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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 the customer base of 21 million at OK Cashbag.
Avalanche will help Dreamus improve its customers’ ticketing experience and widen the industry’s market share, which is worth approximately $230 million. This specifically pertains to the ticketing industry in South Korea. Tickets for events like musicals, sports, and fan meetups will be available at OK Cashbag, backed by Avalanche’s blockchain.
Current events that have already leveraged the facility are:
- The Phantom of the Opera Musical
- Seoul Jazz Festival 2023
SK Planet and Dreamus aim to strengthen innovation with their Blockchain Ticket Total Solution Service. Issues that they will resolve with Avalanche are:
- Scalping issues
- Secondary market abuse
- Providing convenient digital transactions
- Issues with counterfeit tickets
This simultaneously displays the well-crafted design of the UPTN Subnet, which will now tap into the ecosystem of OK Cashbag. This has also worked well for AVAX, the native token of Avalanche, as the trading price is floating at $9.76. This is an increase of 2.72% in the last 5 days. Avalanche prediction projects that the token could touch $15.01 by the end of this year. As a matter of fact, the token could also be traded at $36.46 if things fall into place.
Moving forward, Dreamus and SK Planet are planning 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, has stated that they are, with this partnership, working to revitalize the entertainment industry by upgrading the experience of booking a ticket. Gyon has also called blockchain-based tickets phenomenal for fans since they simplify the verification method on the site.
Justin Kim, the Head of Korea for Ava Labs, has highlighted 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 has expressed excitement on behalf of Ava Labs by saying that it is amazing to see real-world Web3 use cases become a reality for the entertainment industry and fans of K-pop.
Dreamus supports ticket distribution for some of the most renowned events across the globe. This includes Psy, Twice, and MissA.
The announcement was made by Avalanche, who shared that SK Planet is launching the ticketing platform. Considering the kind and level of events that Dreams supports, it is very likely that a large number of fans will benefit from this. Since it deals with issues prevailing in the South Korean industry, other brands could soon follow the trend and make the shift to this innovation.
Twenty-one million OK Cashbag customers are certain to benefit from the experience and advantages of this ticketing system.
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