UEFA Collaborates With AlphaWallet To Provide Tickets Using Blockchain
The UEFA has collaborated with the Ethereal mobile wallet to provide AlphaWallet to trade 20,000 VIP tickets for the UEFA Euro 2020 by blockchain technology.
It is the second time that AlphaWallet will be operating with football after allying with the Chinese sports organization, ‘Shankai,’ for the FIFA World Cup. Throughout the partnership, the UEFA will be capable of tokenizing tickets, and fans’ tickets can be validated without applying UEFA’s centralized ticketing system.
In a report to the Digital Journal, AlphaWallet’s CEO Victor Zhang stated that by tokenizing tickets, fans would view “lower ticket prices, due to a more robust and more efficient marketplace.”
Additionally, the means of ticket purchasing can be controlled in both the primary and secondary markets. He remarked that this implies expensive ticket prices won’t endure, along with “no more paper, no more sign up or log in, no more copy or paste.”
“It means no more primary or secondary market, there will be only one free, open and regulated market,” Zhang stated. “Free means (fewer) fractions; (open means) open to anyone who wants to participate; Regulated means rules are defined using smart contracts.”
During the joint venture, UEFA will also be equipped to govern the sale of tickets and limit the number of resales. Late last year, the UEFA declared that it would cap ticket prices for away supporters in the Europa League and UEFA Champions League.
Ticket prices will be capped at a maximum of €70 in the Champions League and €45 in the Europa League to assure that the amount of ticketing for the visiting team does not surpass the price paid for tickets of an equivalent category sold to enthusiasts of the home team.
This new rule supports UEFA’s “fan first” ticket strategy for Euro 2020, which was published after supporters faced problems scoring tickets to the Champions League and Europa Final last year, calling allocation “measly.”
Ticket sales will be segregated into three phases, with 2.5 million tickets put away for fans of the participating teams and the general populace.