We're thrilled to announce that our blockchain-based smart ticketing start-up has just won a grant of $200,000 from XRPL Grants! This funding will allow us to take our innovative platform to the next level faster, bringing the benefits of distributed ledger technology to the ticketing industry and with that, solving long-standing issues related to ticketing.
Solving long-standing ticketing issues
BPM Wallet’s smart ticketing platform is designed to streamline the event ticketing process. By using distributed ledger and NFT-based technology, we are making the ticketing process more efficient, secure, and transparent. We are using this emerging technology to solve issues that have plagued traditional ticketing systems for years. Issues such as fraud, scalping and fake tickets can be eradicated using this new innovative technology.
Our platform allows event organisers to issue digital tickets as NFTs that are stored on a distributed ledger, ensuring that they can't be duplicated or altered. This makes it much harder for scalpers to profit off of reselling tickets, and it also helps to ensure that only legitimate tickets are being used at events.
In addition to improving security and reducing fraud, our platform also makes the ticketing process more efficient. With traditional ticketing systems, there are often multiple intermediaries involved in the process, each taking a cut of the ticket price. By using blockchain, we're able to streamline the process and reduce the number of intermediaries, which helps to lower ticket prices for event-goers.
Funding short & medium-term project goals
We're excited to put this grant from RippleX to good use and continue developing our platform. One of our immediate goals is to complete development of the MVP (Minimal Viable Product) of our Application, and this funding will play its part in helping us to achieve that.
We’ve created the $BPM token, offering exclusive rewards and opportunities to earn real value and to transfer value within the BPM ecosystem — as part of an initiative to achieve the goal of revolutionising live event experiences. $BPM can be used to transfer value within the BPM ecosystem.
We believe that blockchain technology has the potential to revolutionise the ticketing industry, and we're committed to making that a reality. Stay tuned for updates on our progress and for more information on how our platform is changing the way tickets are bought and sold.
One of the key benefits of BPM Wallet’s smart ticketing platform is the ability the platform provides to create a more personalised and engaging experience for event attendees. By using blockchain, we're able to store data about ticket holders on the blockchain, which allows event organisers to create customised experiences for each individual attendee.
For example, an event organiser could use data stored on the blockchain to send personalised recommendations for food and drinks to attendees based on their past purchases. Or, they could use the data to create customised marketing campaigns, targeting specific individuals with ads and offers that are tailored to their interests.
In addition to providing a more personalised experience, our platform also makes it easier for event organisers to gather data about their attendees. By storing data on the blockchain, event organisers can easily access and analyse data about ticket holders, which can be used to improve the event experience and make informed decisions about future events.
Another benefit of our platform is the ability to create more seamless and convenient experiences for event attendees. By using blockchain, we're able to eliminate the need for physical tickets, which can be lost or forgotten. Instead, attendees can simply use their mobile phones to access their digital tickets stored on the blockchain. This not only makes the ticketing process more convenient for attendees, but it also helps to reduce waste and contribute to a more sustainable event industry.
XRPL at the heart of this innovation
Overall, our blockchain-based smart ticketing platform is helping to create a more efficient, secure, and personalised event experience. We are aligned with XRPL Grants in terms of our thoughts on the use of the XRP Ledger (XRPL). Some time ago, we came to the understanding that building our platform on top of XRPL ticked all the boxes in terms of what we needed to accomplish.
Using XRPL, transactions are fast and cheap. The network is reliable and sustainable, with a proven consensus protocol. Central to our platform build-out is XLS-20, a newly launched protocol for NFTs on the XRPL that we are harnessing to drive this smart ticketing innovation. This funding from XRPL Grants allows us to continue building on the XRPL and to develop and improve our platform.
We're excited at the prospect of seeing the positive impact our innovative approach is about to have on the ticketing industry. Thank you to RippleX and XRPL Grants for supporting our vision and helping to bring the benefits of blockchain technology to the ticketing industry.
This funding will allow us to speed up development of our platform, as we move towards integrating our NFT-based ticketing solution with existing ticketing platforms, in line with our roadmap towards market adoption.