The UTIX platform is a SaaS product that offers e-ticketing solutions to event organizers and consumers. Built on Ethereum, the UTIX platform uses smart contracts to monitor and control the movement of tickets through the e-ticketing ecosystem. The product generates revenue by charging a small fee on each ticket sold, which is paid by the consumer. Event organizers can use it for free.
UTIX Solution
The UTIX solution allows users and event organizers to seamlessly use smart contracts to control each of the variables that would otherwise lead to market inefficiencies. The UTIX protocol eliminates the possibility of counterfeit ticket sales, provides control over secondary pricing, and allows event organizers to enjoy all the benefits of using a blockchain system without the hassle.
The product works on the SaaS principle, so as ticket sales grow, costs will decrease and UTIX's profits will only grow, as the company already has a
- a small, established user base,
- a brand,
- a technology built to test the concept,
- an infrastructure with sales and office space ready to be deployed internationally.
UTIX has adopted a contingency plan in case the events industry lags behind for whatever reason. There is also a development plan in place to integrate all online events/conferences/webinars and promote a gaming ticketing platform.
Upon registration on the UTIX platform, a UTIX Ticket NFT wallet and a UTIX Loyalty Token wallet are automatically generated and assigned to each user. Users will need to confirm their identity.
An Event organizer (“EO”), being an authorized user of the UTIX platform, can create an event with multiple ticket classes and tickets. Each event must have a name, date and venue. Typically, a ticket class covers a block of tickets with the same viewpoint and/or distance from the stage, etc. There is EO can specify several parameters for a ticket class, such as starting price, resale price range, and others. When all tickets are sold, the EO has the option to withdraw the funds accumulated from the ticket sales.
There is no fee to EO for using the Event Ticketing System (“ETS”) to create events and tickets.
A ticket buyer (“TB”) may purchase tickets for any upcoming event. The TB may resell tickets at a predetermined resale price range for that ticket class. A fee is charged for each ticket purchase, which is paid by the TB and collected by ETS.
At the entrance to the event, each ticket is checked by Ticket Verifiers (“TVs”) to allow valid ticket holders into the event and to identify counterfeit, duplicate/redeemed tickets. TVs interact directly with ETS and the blockchain via the TV app and are in the event entry control environment. They are pre-approved users based on the event and are typically employees of the event organizer. As the main gatekeepers of the event, working under time pressure, ease and speed of ticket validation is paramount. Therefore, ticket validation is accomplished by scanning a QR code or using the alternative technology provided in TB's UTIX ticket wallet.
System Administrators (“SA”), who are super users and UTIX employees, shall approve EOs and TVs, validate documents submitted as part of the know-your-customer (“KYC") requirements, approve EOs’ ticket related fund withdrawals and perform management and exception processing.
There shall be two data storage subsystems: Ethereum blockchain; and dedicated database.
The dedicated ETS database shall be used to store:
- user account profiles;
- FIAT payment ticket transactions;
- KYC document submissions;
- ticket state caches.
The blockchain and smart contracts, with support from the dedicated ETS database, shall be used to track event tickets, UTIX Loyalty Token movements, use, user balances and applied discount use, and all associated buyer transactions on an individual ticket basis. Ownership and state related data is stored as part of the ETS smart contracts.
Secondary market distribution methods
The event organizer has the ability to control some of the parameters of ticket redistribution. Event organizers may allow or restrict the free movement of tickets between users, or, if they wish, tickets that users no longer need or want may (only if they wish) be re-listed on the Platform for purchase by any user.
- Ticket Exchange - In order for a user to transfer a ticket to another user, both must be registered and verified on the UTIX Platform. The ticket is only transferred once payment has been made. This ensures that both parties fulfill their part of the agreement.
- Ticket re-listing - If a user decides to sell their ticket, they can simply log into the platform and click the re-list button.
Event Entry methods
QR code 2FA - two-factor authentication by QR code. The UTIX app will have a tab that will display available tickets for each user. When entering the event, a ticket with a QR code will become available. This code only allows access to a second QR code that will facilitate entry, while the first one is simply a verification procedure to show that the person in the app is the true ticket holder. This could end the practice of users taking a screenshot of their QR code ticket, sending it to a secondary buyer, and then charging an optional, sometimes excessive, fee for the ticket.
Timed entry system is the ability to not print a QR code until a certain time before the event itself. This is to deter ticket touts from waiting at the event entrance, printing QR codes and unregulated ticket sales. The event organizer will only have the option to allow QR code viewing 20/30/45/60 minutes before the event itself, giving the secondary market only a very small window to operate.
Paper Tickets. Before the start of the event, the user must choose to receive a paper ticket, which will be sent by e-mail 24 hours before the start of the event. Upon entry, the QR code will be scanned and identity verification will take place. It will consist of:
- Manual verification by the event validator using their own judgment as the user's photo will be displayed on the scanning app
- An automated system using a camera on a device that has the event entry software installed.
Ticket NFT Contract
This smart contract maintains the storage and control of:
- event data;
- ticket class data;
- ticket data.
Tickets are represented as tokens conforming to the ERC-721.
When the ticket(s) is (are) purchased by the TB, the ticket's NFT is created and the ownership is transferred to the TB.
When the ticket(s) is (are) re-sold to the TB, the NFT of the ticket is transferred to the new TB together with the corresponding loyalty points (UTIX loyalty tokens). When the EO ticket(s) is canceled, the ticket owner is set to none.
Tickets are valid until the date and time of the event, after the event they will be destroyed. NFTs remain in the user's wallet but cannot be used on the Platform or by other users.
