TokenStub is thrilled to announce the launch of their Initial Coin Offering (ICO) on August 18th in an effort to provide a fair, secure and decentralized event ticketing infrastructure. The blockchain-based platform aims to disrupt the $33 billion ticketing market by overcoming the pervasive challenges of traditional systems worldwide while creating a more efficient marketplace for both buyers and sellers.
Current platforms for purchasing sports, concert and theater tickets are rife with issues of fraud, lack of scalability, limited seating options and high costs. Resellers use sophisticated bots to make bulk-ticket purchases, which in turn blocks the average consumer from the market. Buyers are forced into the secondary market, where resale prices are often extortionate. This ultimately strips entertainers of any pricing power.
By creating the STUB token, the currency on the TokenStub network, the platform will have far greater control over fraudulent activity. Its technology will ensure that fees are kept to a minimum, enabling buyers to save while also giving sellers access to downstream revenues with newfound levels of transparency.
The TokenStub network relies on a decentralized architecture, which enhances security and reliability. The team behind the technology is led by executives with major industry experience, including Dr. Philip Fernbach, a professor at the University of Colorado; Sean McHale, former CTO of eBooks.com; and Erik Velie, one of California’s most respected attorneys.
“The status quo is unsatisfactory to consumers, retailers and artists alike. TokenStub promises a fair, more efficient and secure marketplace for buyers and sellers,” stated Sean McHale, CEO of TokenStub.