Platinum Digital is aiming to protect buyers and ticket sales within the industry by using blockchain technology.
The Los Angeles-based company, which first arrived in 2018, uses a blockchain digital ledger to track online transactions. By doing so, the company said it is able to “tackle the exorbitant prices charged by Ticketmaster, scalpers, and other resellers and ensure fans buy verified tickets and get to see their events.”
Additionally, the company noted that each ticket purchase has a 100% money-back guarantee.
“Platinum Digital isn’t a digital currency; it’s a way to safeguard the fan experience by protecting online ticketing,” Joseph Goulet, Platinum Digital’s founder, said in a press release. “It’s a feature of the blockchain itself. Every ticket is a unique digital asset, which can’t be illegally transferred or manipulated.”
Goulet formed the company after he bought tickets to a game and found out they had already been used. In an effort to prevent this from happening to himself or anyone else again, Goulet developed Platinum Digital’s approach. An app is now available via Apple.
“From the very first idea of launching Platinum Digital to the launch of our app now, our primary mission has always been consistent – to protect fans and their experiences,” Goulet said.
The company consists of ten entertainment and ticketing experts. Find out more about Platinum Digital here.