London’s fan3 raises €4.2 million to address ticket reselling and scalpers

A UK-based technology firm, fan3, has successfully raised €4.2 million in seed funding, signaling a growing focus on tackling issues of ticket scalping and fraudulent activity within the live entertainment industry. This development holds particular significance for Europe as it grapples with ensuring fair access to cultural events and protecting consumer rights in the digital age. This new funding allows fan3 to further develop its platform, potentially offering European event organizers a powerful tool to combat the negative impacts of the secondary ticket market. The platform leverages digital passes, stored directly in fans' mobile wallets, which integrate seamlessly with existing ticketing infrastructure. This technology provides priority access to presales and ensures a more secure and verifiable method for fan authentication. Central to this innovative approach is the use of blockchain technology to securely record fan identity and access data, aiming to combat bot activity and the resale of tickets at inflated prices, offering transparency. This technology holds significant implications for both European consumers and event organizers. By reducing ticket fraud and scalping, fan3 aims to enhance the overall event experience and combat fraudulent activity. Furthermore, it contributes to a more equitable distribution of tickets, a key concern for policymakers across the continent. This development aligns with the EU’s broader commitment to digital sovereignty and consumer protection. Looking ahead, the success of platforms like fan3 could inspire further innovation within the European entertainment tech sector. This will provide an increased focus on consumer rights, fair pricing, and a more secure digital experience. This could provide a boost for European alternatives to existing international ticketing services.