Secure Event Ticketing System Using NFT ERC721 Tokens

Abstract

This research study aims to develop a blockchain-based ticketing system to solve the problem of counterfeiting tickets and scalping. With the help of blockchain, the event ticketing system of various events such as concerts, festivals, and exhibitions would be secure, tamper proof. The proposed method uses ERC 721 NFT tokens which makes the token unique and non-fungible. Traditional ticketing systems face challenges like counterfeit tickets and price hike in the secondary market which affects transparency, attendees' trust gets lost, and event organizers get affected. To solve this problem, the proposed method mainly focuses on the resale market, that is the secondary market. ERC 721 is used to make tickets unique, which makes them secure and resistant to tampering. In the secondary market, the ticket is transferred between the users, that is the linking of tickets to wallet addresses gets changed. It enhances traceability of the tickets. In the secondary market, there would be a price cap for the tickets and when the ticket is sold royalty would be given to the event organizer too. The objective is to create a secure ticketing solution and ensure good resale practices. The proposed method indicates that this approach could significantly enhance the security and fairness of ticketing processes, benefiting both event organizers and attendees.