Blockchain-based ticketing platform Tixbase has entered into an exclusive partnership with Turkish event ticketing giant Passo, bringing the latter’s ticketing operations onto the Avalanche blockchain. Announced on August 29, this five-year collaboration marks the most significant deal ever secured by a blockchain ticketing company.
The partnership between Tixbase and Passo aims to address major challenges in the ticketing industry, such as security, transparency, and user experience, by leveraging the capabilities of the Avalanche network. Avalanche’s blockchain technology will enable the two companies to better monitor and regulate secondary market sales, combat counterfeit tickets, and curb scalping and inflated prices.
Why This Partnership Matters
Passo, established in 2014, is Turkey’s leading ticketing provider and manages ticket sales for 38 teams, including the Turkish National Team and top European football tournaments like the UEFA Champions League and Europa League. Handling over 25 million tickets annually for various events, Passo’s collaboration with Tixbase could have a significant impact on the global online event ticketing market, which is projected to reach $107 billion by 2032.
Integration of TixChain for Enhanced Ticketing
As part of the partnership, Passo will integrate TixChain, an Avalanche Layer-1 blockchain that complies with the European Union’s General Data Protection Regulation (GDPR) and other relevant data privacy laws. This integration is expected to enhance the overall ticketing process, offering a secure and efficient platform for both event organizers and attendees.
Emil Ljesnjanin, the founder and CEO of Tixbase, expressed his excitement about the collaboration, stating, “This is the largest deal signed to date for any blockchain ticketing company, proving the value of our technology and paving the way for global adoption of Tixbase’s novel solution that benefits all participants in the ticketing ecosystem.”
The partnership will also see Tixbase issuing non-fungible tokens (NFTs) for tickets, transforming them into collectible digital assets that fans can trade, sell, or keep as mementos. These NFTs will play a key role in enhancing fan engagement and will be integral to Passo’s loyalty programs, further solidifying the collaboration’s potential to reshape the ticketing landscape.
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