An overview of Guts tickets
Guts Tickets uses blockchain technology to distribute original and reliable tickets. Their target audience is organizers, companies, and anyone seeking an effective way to issue digital tickets for their events.
The company is at the forefront of combating the issue of hiked secondary priced markets and ticket fraud. The company aims to provide you with digital tickets by using innovative benefits for fans and organizers that you can't access elsewhere. Resultantly, Guts tickets provides its users with total control and insight during the event lifecycle. This control will fully offer real-time data on ownership and activity. The ticketing system is based on the blockchain, where visitors use their smartphones to mitigate fraud. The platform enables the creation, validation, and sale of tickets in a controlled way. Guts tickets platform also provides a singular place for unlimited ticket types and upsells. The system is meant to benefit both buyers and sellers of tickets through real-time data on ownership and revenues respectively.
Key Features
Real-time data on ticket cycle
Digital smart tickets
A Mobile app
Problems faced by Guts tickets
In their attempt to revolutionize the ticketing industry, Guts tickets experienced several problems. The company approached us and stated that they had realized how it's difficult to track customers or exchange data. This challenge is due to the expansion that moves beyond the supplier.
There is also no exchange protocol which creates fraud in the secondary niche. For example, even when digital ticketing involves selling a ticket on the secondary market, it no longer represents the original buyer's ownership whose details the event promoter gets. It is almost impossible for the event producer to know who their event is due to the lack of exchanges on a secondary market. In some instances, Guts tickets has found itself acting as a secondary market as they themselves may not be aware how many times a ticket may change hands. Additionally, customers can buy fake tickets on websites that post as Guts tickets which may affect its brand and lead to a loss of revenue.
Solutions provided
We analyzed the Guts tickets business strategy and recommended adapting NFT ticketing. NFTs are unique digital tokens belonging to a blockchain. A blockchain platform creates an exchange protocol that facilitates data exchange.
A creation on the blockchain is stored in a secure wallet that the buyer can access on any device. NFTs can be created as non-transferable, and therefore it is a secure platform for both ticket holders and organizers.
Technology stack used
We recommended that Guts ticketing adopts a technology stack based on state-of-the-art tools, data storage, security, user experience, and data scalability. A quality technology stack would create a ticket system with an easy UX experience and assure security for buyers and sellers. The best frontend client-side technology stack is angular, while the best backside technology stack is Nodejs.