This article was originally published on ETFTrends.com.
Looking for tickets to a Broadway show? Showgoers may soon be utilizing blockchain technology in order to do so as theatre operator Shubert Organization is teaming with startup True Tickets to offer tickets using IBM’s blockchain platform.
Per a recent press release:
At the conclusion of the recent inaugural cohort of the Broadway Tech Accelerator, Shubert Ticketing announced that they will launch a pilot project with True Tickets’ secure mobile ticketing service in 2020 to create a better ticketing experience for millions of theater fans.
“At the end of the day, we aim to help our clients develop more meaningful relationships with their patrons”
Shubert Ticketing sells millions of tickets each year through its retail brand, Telecharge, online, at box offices and call centers as well as through hundreds of third-party agents. Across those hundreds of partners, Shubert focuses on standardization in ticket delivery process.
“We’re excited for this pilot with True Tickets to help us explore how to standardize processes across our partners and create a more consistent customer experience,” said Kyle Wright of Shubert Ticketing and Managing Principal of Broadway Tech Accelerator. “We are always looking for solutions that help us work better with our many channel partners, while also providing a secure and convenient ticketing experience. We see True Tickets as a leader in the space and are excited to put their technology to the test on Broadway.”
True Tickets, which is built on the IBM Blockchain, will aim to seamlessly integrate their current secure digital delivery ticketing service into targeted components of Shubert’s ticketing operation – which includes Telecharge.com, Broadway Inbound and several other distribution partners. With the True Tickets service, consumers who receive their tickets to their mobile phones are guaranteed that their tickets are real – reducing fraud risk and creating a closer relationship between a patron and the venue owner.
“At the end of the day, we aim to help our clients develop more meaningful relationships with their patrons,” said Matt Zarracina, Co-Founder and CEO of True Tickets. “This pilot affords us the opportunity to do exactly that in a massive multichannel marketplace.”
Let The Show Begin for Blockchain ETFs
ETF investors sensing an opportunity can look to blockchain-focused funds like the Reality Shares Nasdaq NexGen Economy ETF (BLCN). BLCN seeks long-term growth by tracking the investment returns, before fees and expenses, of the Reality Shares Nasdaq Blockchain Economy Index, which is designed to measure the returns of companies that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their proprietary use or for use by others ("Blockchain Companies").
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