On August 11st and 12nd, the 2018 Global Media Block Chain Summit was held at UCLA. This commit was intended to build an international media communication channel that enables the global blockchain media industry to connect and share win-win results. StoneMatrix Technology from China was invited to the summit. The CEO Grant Yang and COO Jesse Liu at StoneMatrix participated in the event and delivered a speech about their smart solution to ticketing issues.
StoneMatrix currently hosts the operations and major R&D efforts of the StoneTicket (STNT) blockchain platform in China. The leadership team now consists of former senior technical leads from oversea IT giants, previous head of silicon-valley based company at distributed system areas, and experienced investment manager of Nasdaq-listed startup.
Just a few months before, there was a shock in the ticketing market that thousands of Taylor Swift’s concert tickets remained unsold even on days before showtime. The flop was caused by the strategy of Taylor’s team, which meant to maximize ticket prices and minimize scalping. According to Digital Music News, Live Nation, the owner of Ticketmaster, has pointed this strategy that involves highly dynamic ticket pricing. His strategy foregoes the upfront sellout, which is designed to take money normally claimed by scalpers. It was a brave trail but with high, unpredicted costs.
StoneTicket may provide the solution for these ticketing dilemmas. With fewer risks and more feasibilities, the public chain is an innovative model for the ticketing & entertainment industry. The StoneTicket (STNT) blockchain platform is positioned in the “decentralized digital ticketing transaction public chain”, by leveraging the distributed ledger technology, StoneTicket aims to solve the bottlenecks of the entertainment industries during the tickets selling, agency, purchase phases, and ensures the effective and safe circulation of each ticket.
Event organizers can also customize the ticket rules through smart contracts to control the various behaviors of ticket first-sales, resales, exchanges, and make the process transparent.
Ticketing, as a rapidly expanding market, has considerable potentiality. In the future ticketing industry market, the problems that StoneTicket can solve will not only the one-way sale of ticketing for the entertainment industry, but also the analysis and matching of e-commerce, sales, fan economy and long-term marketing data in multiple dimensions.
StoneMatrix is committed to using blockchain technology as the core driver to connect Business to Customers, and create a better business environment. Their vision is to promote and lead the next era through professional technology and their enthusiasm for the industry.
More worth mentioning，during their trip in states, StoneMatrix Technology was also invited to attended a business conference with the Commercial Office of the Consulate General of People’s Republic of China in Los Angeles. During the meeting, Grant and Jesse actively explored the possibility of cooperating with governmental resources, and looking forward to the future innovation of business models in the pan-entertainment industry for both China and the United States.
Through the exploration and study with the business, academic, and political circles in Los Angeles, StoneMatrix has further defined the next development direction.
What will be the future of this world which is gradually changing by blockchain technology? Let us wait and see…
For further information and contact:
Thousands of Taylor Swift Tickets Remain Unsold — Just Days Before Showtime. April 28. 2018. Digital Music News. Paul Resnikoff. Retrieved from: https://www.digitalmusicnews.com/2018/04/29/taylor-swift-reputation-tickets-unsoid/
Company Name: Beijing StoneMatrix Technologies, Co.Ltd.
Contact Person: Lilian Jiang
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