SK Planet’s subsidiary Deamus has announced that it has adopted Avalanche to improve the ticketing experience for its users. The idea is to make blockchain-based tickets available to OK Cashbag’s customer base of 21 million.
Avalanche will help Dreamus improve its customers’ ticketing experience and grow its industry share, which is worth approximately $230 million. This specifically relates to the ticketing industry in South Korea. Tickets for events such as musicals, sports and fan meetups are available from OK Cashbag, backed by Avalanche’s blockchain.
Current events that have already used the facility are:
- The ghost of the opera musical
- SEOl Jazz Festival 2023
SK Planet and Dreamus want to strengthen innovation with their Blockchain Ticket Total Solution Service. Problems they will solve with Avalanche are:
- Scalper problems
- Secondary market abuse
- Offers convenient digital transactions
- Problems with counterfeit tickets
At the same time, this shows the well-crafted design of the UPTN subnet, which will now leverage OK Cashbag’s ecosystem. This has also worked well for AVAX, Avalanche’s native token, as its trading price hovers at $9.76. This is an increase of 2.72% in the last 5 days. Avalanche forecast projects that the token could reach $15.01 by the end of this year. In fact, the token could also trade at $36.46 if things fall into place.
In the future, Dreamus and SK Planet plan to launch their own secondary marketplace and launch more features for the ticketing platform.
Gyosu Kim, the Chief Business Officer for B2C at SK Planet, stated that with this partnership, they are working to revive the entertainment industry by improving the ticket booking experience. Gyon has also called blockchain-based tickets phenomenal for fans because they simplify the verification method on the site.
Justin Kim, the head of Korea for Ava Labs, has emphasized that the next phase of their integration is incredibly exciting. Ava Labs will bring together the vision and expertise of Avalanche with SK Planet and Dreamus. Justin expressed his excitement on behalf of Ava Labs, saying that it’s amazing to see real Web3 use cases becoming a reality for the entertainment industry and K-pop fans.
Dreamus supports ticket distribution for some of the most renowned events around the world. This includes Psy, Twice and MissA.
The announcement was made by Avalanche, who shared that SK Planet is launching the ticketing platform. Given the type and level of events that Dreams supports, it is very likely that a large number of fans will benefit from this. Since it addresses issues prevalent in the South Korean industry, other brands could quickly follow the trend and make the transition to this innovation.
Twenty-one million OK Cashbag customers will certainly benefit from the experience and benefits of this ticketing system.