fan3 raises $5M from Improbable to fix broken ticketing

A European entertainment technology company has secured significant investment to combat ticket scalping and improve fairness in event ticketing. This initiative directly addresses concerns about digital monopolies and the challenges faced by European citizens trying to access cultural events, aligning with the push for fairer digital practices across the continent. The core aim is to put tickets into the hands of genuine fans. The company received $5 million in funding to scale its innovative platform. The platform works through a digital pass stored in a user’s phone wallet, granting priority access and using blockchain technology to securely verify fan identity and access rights. This approach leverages decentralization and security to create a more transparent and reliable ticketing ecosystem for both consumers and event organizers. This technology has significant implications for event attendees and the wider European entertainment industry. By reducing opportunities for scalping and bot activity, more authentic fans gain access to events. This, in turn, fosters a more vibrant and accessible cultural landscape, bolstering the experience for European citizens and supporting the sustainability of the entertainment sector. Looking ahead, the newly secured funds will be used to broaden the platform's reach and strengthen integrations with existing ticketing systems across Europe. This evolution points toward the potential for wider adoption and a shift towards digital solutions designed with fairness and transparency in mind, reflecting Europe's ongoing digital sovereignty initiatives.