YellowHeart is attempting to handle an issue that ought to be recognizable to any individual who has at any point attempted to purchase a ticket to a prominent concert. Those tickets frequently get grabbed by hawkers, who, at that point, exchange them at a higher price. Josh Katz, the startup’s CEO, noted that he established the firm because he was a music fan and was exhausted of getting ripped off by hawkers. Simultaneously, Josh said this wasn’t an issue for concertgoers. Rather, he said that it was a dilemma that the fans and the organizers on the ground go through. On the other hand, the performers don’t bargain when ticket prices are increased.
Josh announced that YellowHeart could permit a performer, a show scene, or other occasion initiators to set up guidelines for how their tickets will be resold. Josh Katz announced that he’s trusting that some bold specialists will recognize the fact that tickets can’t be sold at an increased cost. However, he anticipated that many individuals would hike the prices and direct that any resale benefits are then split among the dealer, the artist, and a charity of the artists’ picking. Josh added that no matter the location where the tickets are sold, sales must adhere to the guidelines that have been stipulated. This is because all ticket sales will be going through YellowHeart.
Katz noted that the arrangement was in place to dispatch the ticketing platform in the second quarter of the year. Katz noted that clients ought to have the option to sell their tickets on any commercial center that works with YellowHeart’s smart agreements. Nevertheless, he recognized that it will require some investors to speed up the plans and for the integrations in the plan to go live.
Josh also argued that the blockchain technology approach had plenty of benefits. He mentioned that one significant fact is that each ticket will have a unique key that will be on a client’s identity and seat. A user’s virtual wallet will have a key on both the identity and the seat. Katz noted that virtual wallet technology would eradicate forgery. He added that the entire ticketing process would be digitalized. However, the venues for the concerts will have the option to print the tickets. Josh Katz has extensive experience in the music industry. Recently, he established the El Media Group, which develops custom playlists for restaurants, hotels, and other customers.