Riccardo “fluffypony” Spagni |
South
African-based blockchain protocol Tari expects to be leveraged by Big
Neon, a new company developing a blockchain-enabled platform to
modernise the ticketing industry. Big Neon plans to use the Tari digital
assets protocol to manage the issuance and resale
of tickets through its platform to help promoters maximise revenue.
Tari,
an open-source blockchain protocol, started development earlier this
year by a consortium co-founded by maverick South African blockchain and
cryptocurrency
expert Riccardo “fluffypony” Spagni. Tari is being built to manage the
issuance and transferring of digital assets, like tickets, loyalty
points, in-game items, and crypto-native assets like CryptoKitties.
Big Neon is the brainchild of US-based technology and ticketing industry pioneer Dan Teree, who was President of TicketWeb, the first company in the world to sell event tickets online, and an executive at Ticketmaster. Most notably, Teree co-founded Ticketfly, which was sold to Pandora Media for $450m.
Teree
described why it was time to build a new ticketing company: “Over the
last five years, ticketing companies have been more interested in
getting bigger
than getting better. Big Neon aims to modernise ticketing by delivering
the most powerful mobile tools and digitising the entire ticketing
process,” he said.
“I
think live entertainment ticketing and blockchain technology like the
Tari digital assets protocol are on an inevitable collision course. With
blockchain-based
management of digital assets such as tickets, event promoters will
finally be able to recapture revenues that are currently lost to the
secondary market. From my vantage, it’s the biggest innovation in the
ticketing industry since the first ticket was sold
online,” he said.
A
defining characteristic of Big Neon is that its entire platform will be
open-source. Ticketing companies all over the world will be able to
leverage Big
Neon’s codebase to modernise their ticketing platforms. Developers and
entrepreneurs who are working on digital assets projects related to
in-game items, digital collectibles, loyalty points and more will be
able to use libraries, patterns and other code from
the Big Neon codebase to speed development.
“Big
Neon is still very much in development, and we welcome contributors who
are passionate about building the future of event ticketing and digital
assets
to collaborate with us,” said Teree.
Tari’s
Spagni said Big Neon’s use of the Tari protocol underscores his view
that it – and blockchain – had the ability to deliver value to modern
businesses.
“It’s
inspiring to be involved in the development of a digital assets-focused
blockchain protocol that supports the needs of real businesses like Big
Neon,”
said Spagni. “By allowing digital asset issuers to create rulesets
around their digital assets, the Tari protocol will empower them to make
the best decisions that benefit all parties involved.”
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