Every time tickets are released for a high demand event, we read about fans getting locked out from buying and how software and other bots have already posted them on secondary markets at ridiculously inflated prices.
That is why we are building Terrapin Ticketing, a new ticketing marketplace designed to stop scalpers from making money off real fans. The tickets issued on Terrapin are "smart-tickets" which means they are unique digital assets that have their owner and transaction history information embedded into them.
Every time a ticket is transferred to a new owner, it records the purchase price and generates a new barcode to grant access to the show. If a ticket is bought for more money than the original owner paid for it, the difference is automatically sent to the event creator, preventing scalpers and counterfeiters from making money off fans trying to see their favorite artists.
Tickets can be sent to friends or put back on the market with one click.
Tickets can be bought for over face value but the difference is sent directly to the artist, not scalpers.
Tickets are tied to fans' accounts, so they are guaranteed to get them in the door.