Bitfin Capital Cryptofund to invest on blockchain tickets platform crypto.tickets

Total amount of investments was not disclosed, however, according to the Bitfin Capital fund partner Julian Zegelman, the deal was made in cryptocurrency.

According to Zegelman, tokenization organically combines with p2p-businesses, where it is important to balance a large number of transactions with low operating costs and transparency, that is why the ticket industry is an excellent case for the implementation of blockchain technologies: the current state of affairs does not suit both the artists and their spectators. Too many intermediaries and closeness of the industry lead to ineffective distribution of tickets, fraud in the secondary market and the overpriced tickets.

“The Crypto.Tickets team are the first to offer the market a decentralized and transparent alternative, where tokens and smart-contracts create a harmonious relationship between artists, event areas and spectators. Therefore, BitFin Capital invested in the ICO project at the very beginning.”

Tickets Cloud partner and the director for strategy and development of crypto.tickets Katerina Kirillova notes that this investment brings the ICO project closer to the implementation of the first item outlined in the project` road map. “We are talking about the creation of a crypto.tickets solution in the ecosystem that will allow us to regulate the relationship between all market participants with the help of blocking technology. Activities in the system will be created as smart contracts. Actions include all the main processes, such as processing payments, issuing, returning and exchanging crypto-tickets.

The official start of the ICO is scheduled for October 05.

Bitfin Capital is also known for its investments in the Cindicator token sale.

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