Tixbase partners with Passo to transform ticketing via Avalanche

Blockchain-based ticketing platform Tixbase has announced that it has moved ticketing to the Avalanche blockchain through an exclusive partnership with Turkish event ticketing firm Passo.

The five-year partnership is the largest deal a blockchain ticketing company has signed to date, according to a press release on August 29.

Tixbase and Passo will leverage the Avalanche (AVAX) network to address common issues in the ticketing industry, such as security, transparency, and user experience. Avalanche’s blockchain technology will also enable companies to monitor and regulate secondary market sales while addressing concerns such as counterfeiting, black marketeering, and inflated prices.

Why is this big?

Offering and managing ticket sales since 2014, Passo is Turkey’s largest ticket provider. The company serves 38 teams and is the official ticket partner of the Turkish National Team as well as the most important European football competitions such as the UEFA Champions League and Europa League.

Passo processes more than 25 million tickets annually covering a variety of sporting events, concerts, theater performances and festivals. This partnership could significantly impact the online event ticketing market, which is expected to reach $107 billion by 2032.

Passo to integrate TixChain

The collaboration will use TixChain, an Avalanche layer-1 chain that complies with the European Union General Data Protection Regulation (GDPR) and other data privacy laws in the jurisdictions in which it operates.

We are excited to partner with Passo, a visionary leader in the Turkish ticketing industry. This is the largest deal signed for any blockchain ticketing company to date, proving the value of our technology and paving the way for global adoption of Tixbase’s new solution that benefits all participants in the ticketing ecosystem.

Emil Ljesnjanin, founder and CEO of Tixbase.

The use of blockchain will allow Tixbase to issue non-fungible tokens of tickets, enabling collectible digital assets that fans can collect, trade, or sell. NFTs will also play a key role in overall fan engagement and Passo’s loyalty program.