Traditionally, people buy tickets for events and concerts through authorized ticket brokers. With subsequent innovations, the industry has explored digitally transmitted tickets through online channels and websites and, more recently, issuing tickets as NFTs.
However, the disproportionate relationship between supply and demand has caused people to look to unofficial sources, leading to fraudulent purchases and scams.
Buying tickets on the internet is an extreme sport these days. While blockchain technology and decentralized finance have undoubtedly made obtaining authentic tickets easier, it also has apparent weaknesses.
In recent months, NFT ticket sales have been through the roof, and fake NFT ticket purchases have reached all-time-high levels.
REV3AL is promising to provide robust multi-layered authentication and copyright protection for digital assets, including tickets.
REV3AL Technology is a multi-layered authentication and copyright protection tool that prevents digital asset counterfeiting on and off the blockchain. Its digital asset protection solution upholds the intellectual property rights of digital brands, creators, artists, and collectors.
It also creates the infrastructure for blockchain-based innovations to develop and deploy their solutions on a secure platform.
The problems plaguing the digital advertising industry are not limited to counterfeiting and illegal distribution. Contract disputes are also common, especially when one party fails to meet preset agreements such as traffic or impressions.
It would be impossible to implement a single ‘silver bullet’ to resolve the various vulnerabilities that enhance digital counterfeiting. That is why REV3AL’s system provides a toolkit that features multiple solutions to avoid the increasing cases of digital media fraud.
The multi-layered ownership and original content rights make it difficult to counterfeit, duplicate or even distribute digital media without the appropriate intellectual property rights.
In practical contexts, a cyber attacker’s success rate reduces exponentially when they need to crack the right biometric, code standard, and other layers of authentication to gain access to protected material.
Integrated blockchain features in REV3AL
Blockchain technology improves different systems, including digital advertisements. While it is in its early stages, REV3AL leverages the best parts of the technology. It aims to build one of the most secure, fast, robust, and potent digital anti-counterfeiting systems for every user.
Distributed ledger technology enables smooth and transparent on-chain transactions between advertisers and publishers. This technology removes the role of intermediaries and improves efficiency in interactions among industry participants. Users no longer have to deal with multiple intermediaries.
For most businesses, conducting a transparent interaction with advertisers and publishers is becoming an on-chain experience. It also helps resolve contract disputes efficiently, saving time and other essential resources.
REV3AL-backed decentralized advertising benefits
Cost-efficiency
Blockchain technology and immutable transactions will help solve contract disputes between businesses, advertisers, and publishers. It also saves time and costs. The advertising industry thrives on trust, and marketing departments no longer have to commit so many resources to verify trust with each partner.
Privacy and Security
REV3AL’s authentication layers can help interacting parties encode private communications, personal data and IP in plain sight, maintaining data security and privacy. The external decoder can also help encode and decode information on and off-chain for participatory parties.
Efficiency
Authentication layers integrated into the NFT listing platform promotes security without sacrificing efficiency and trust.
Fraud detection
Decentralization upholds a trustless system, where transparency is paramount. A digital ledger will provide an audit trail for all creations and transactions on the platform. Hence, it helps prevent fraud, promotes genuine interactions, and authenticates the validity of digital media and assets.
Common ticket scams
Ticket scams occur in different forms, but selling counterfeit or stolen tickets is the most common scheme. Scam artists frequently pose as genuine sellers online or through classified ads, advertising cheap tickets, or access to sold-out events to potential buyers.
According to a poll of 1,000 American adults from ticketing technology firm, Aventus, 12% of consumers purchased scam concert tickets online.
These fraudulent schemes follow a similar pattern, with minor modifications between them. The process starts with an offer of early access to tickets for a popular event or one that is already sold out officially.
Undelivered tickets
The standard process after purchasing a fake ticket is to wait for delivery. Some even tell you that a representative will meet you at the venue with your ticket – but you never get it.
After completing the steps, your calls no longer connect or are not answered when you try to contact the business that sold you the tickets.
Occasionally, you may get the tickets, but they turn out to be counterfeited on the day of the event.
REV3AL technology ensures real-time NFT ticket delivery and maintains the evidence on the blockchain.
Fake websites
It is pretty easy for fraudsters to create phony ticket websites and make them appear genuine using easily accessible technology.
REV3AL technology resolves this problem by helping ticket hunters authenticate the genuineness of every website they interact with.
Overpricing
Scammers, including individuals and fake resale firms, capitalize on ticket scarcity to charge multiples of the original value of a ticket.
They may counterfeit tickets by copying genuine barcodes and logos from verified ticket businesses. These scammers may also sell fake tickets to different buyers and email duplicates to them. Some offer tickets over the internet and attempt to steal credit card details.
REV3AL can resolve the issues of overpricing through tamper-proof and inflation-immune ticketing systems.
Tamper-proof
REV3AL technology protects creators, brands, IP owners, and collectors. It leverages blockchain technology to ensure the validity of NFT tickets and prevent fraud through immutable and irreversible public records of each transaction.
REV3AL’s innovative solution simplifies ticket authenticity verification and makes it almost impossible to sell fraudulent NFT tickets.
Copyright protection
REV3AL presents a unique business model where buyers and sellers are protected within its ecosystem.
The multilayered approach to copyright protection assures trademarks, authentic designs, and NFT ticket holders that their assets can not be duplicated or resold without their consent.
Decentralized
Projects, communities, supporters, and fans can utilize REV3AL technology to make secure purchases and protect the digital license – another layer of protection – associated with each unique NFT ticket they buy.
REV3AL leverages decentralization to allow users to preserve the digital license to their tickets, making it difficult for fraudsters to sell their tickets to anyone else.
