Aventus Protocol Goes Live On Ethereum MainNet
Aventus is a blockchain-based protocol that ensures increased trust, security, and control for the live-event ticketing industry. It weeds out counterfeit tickets and illegal scalping. The protocol empowers rights holders to establish rules throughout the ticketing supply-chain including all stakeholders like promoters, venues primary or secondary agents.
Aventus, an open-source ticketing platform, today announced the deployment of the Aventus Protocol onto the Ethereum MainNet. Aventus’ mission is to ensure the transformation of the live entertainment industry with a fair and secure means of ticketing events by diminishing the trickery and scalping that is bothering the current sector. Transparency is guaranteed through documented ticket ownership. Details of transfer data establish an open audit trail for data integrity and compliance.
The protocol’s open-source code is now live on the Ethereum blockchain and can be used by any business to create events and build complementary software applications. Organizations can also explore collaboration with Aventus to develop unique ticketing solutions tailored to their activities.
“We’re very pleased—though not surprised—that the audit report identified no critical issues,” said Andy Grant, Chief Technical Officer at Aventus. “We worked very hard on the first release of the protocol, so it’s great to see that hard work paying off.”
The deployment of the protocol would help businesses such as ticketing agencies, venues, artists or teams to advance their ticketing processes through improved security and stability. Consumers would save time and money by eliminating ticket fraud and steep markups. Event organizers get command over the prices of resale tickets and ensure event attendees do not get duped by fake tickets.
“The positivity of this first audit report is a testament to the hard work and diligence of the Aventus software development team,” said Andrew Ford, Chief Marketing Officer of Aventus. “As we progress along the Aventus roadmap, building out tangible solutions to the challenges faced by the ticketing industry, we will continue both to engage with the industry, and to audit and update the open-source code, and white paper, in accordance with major milestones and releases. This will ensure that the Aventus protocol remains secure and performant.”
Aventus venturing into sports ticketing space cannot be ruled out given the ticketing volume and frenzy various kinds of sports generates. Blockchain-based sports platforms have enjoyed collaboration with exchanges like Binance. Crowdfunding for sports through blockchain is gaining momentum as well. It remains to be seen whether Aventus can leverage its platform to tap into sports ticketing.
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