London based blockchain ticketing platform Aventus has raised $20m through their Initial Coin Offering. Aventus, which has been dubbed “the Bitcoin of ticketing,” aims to prevent unregulated touting and counterfeit tickets. Co-founder Alan Vey said: “One of the biggest problems plaguing the events industry is touting. Almost everyone has had the experience where they go online to buy tickets for their favourite artist, only to find that they’ve sold out in minutes.”
Blockchain ticketing solution provider Aventus has raised an estimated $20m in an Initial Coin Offering (ICO), which sold out within seven minutes. Its AventCoin (AVT) token sale received more than 60,000 Etherum (ETH) from investors, which is the equivalent of around $20m (£15.1m/€16.7m). Aventus, which has been dubbed “the Bitcoin of ticketing,” aims to prevent unregulated touting and counterfeit tickets. The London-based firm enables secure transfer and resale of tickets with built-in inflation caps that aims to eliminate fraud and ensure that the final user can be identified. The company said this type of technology is of particular importance in light of global terror concerns as it brings an additional security measure for attendees. It boldly claims that its technology “effectively ends the ability for ticket touters to continue in business”.