How Can We Prevent NFT Tickets From Being Scalped? Hyundai Card Has A Solution
Most recently, interest has been focused on Jang Beom Jun’s concert as it was revealed that scalping tickets were blocked using NFT tickets. According to Hyundai Card, the key factor is using blockchain technology such as macro blocking, transfer blocking, and lottery systems.
Only authenticated users can purchase tickets using this system, and NFT tickets cannot be resold once purchased. Also, using a mobile app-centered UX blocked access to macros used on websites.
Hyundai Card stated, “The biggest key factor for ticket scalping is using macro, which secures many tickets. Due to this, consumers had no choice but to buy tickets from scalpers, spending extra money.”
They also prevented abuse of using multiple accounts by verifying CI (identity authentication) when signing up for the app. Hyundai revealed that it uses blockchain data to monitor patterns of abuse.
They were also able to block not only ticket purchases but also transfers. With ticket scalping techniques evolving, by using NFT tickets, one must go through additional identity verification even if you transfer the purchase account.
Since the entire process, including purchase, storage, and use, is done only within the app, attempts to re-trade or leak outside the app can be prevented.
Hyundai Card started taking measures to solve the problem of ticket scalping after Bruno Mars’ performance last year, which had a lot of ticketing issues. Previously, the Record Label Industry Association of Korea filed a petition to revise ticket scalping laws.
The Record Label Industry Association Of Korea Files Petition To Revise Ticket Scalping Laws
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