Leveraging BBTS and NFTs for Ethical Ticketing in Live Events

Abstract

This research presents an innovative Blockchain-Based Ticketing System (BBTS) that leverages blockchain technology, smart contracts, and non-fungible tokens (NFTs) to revolutionize the ticketing industry. The architecture comprises a User Interface, Smart Contracts Layer, Blockchain Network, Tokenization Layer, Ticketing Process, and Administrative functionalities. BBTS addresses the pervasive issue of ticket reselling, ensuring fair access to event tickets for all fans and equitable compensation for artists.Through the creation, buying, and reselling of NFT-based tickets, the platform leverages blockchain technology and smart contracts to automate ticket transactions and enhance transparency, effectively mitigating exploitative secondary markets. The system allows for the creation of NFTs associated with artists, preventing scalping and fostering a sustainable and artist-friendly ticketing ecosystem. The main aim of BBTS is to deter ticket reselling practices, ultimately benefiting both fans and artists by ensuring affordable access to events while fostering a fair compensation model. This research demonstrates the potential of blockchain-based ticketing solutions to revolutionize the event industry, establishing a foundation for fair and ethical ticket distribution.