SBT for token gating

If you’re looking for a type of ticketing system that prevents scalping and unauthorized resale, you may want to look into a concept called “token gating”. Token gating is a practice that involves using non-fungible tokens (NFTs) to control access to certain events or products. In the case of concert tickets, for example, official ticket sellers can sell tickets with a special type of token called an “SBT” that is not tradeable, but can be transferred between wallets.

By using an SBT, official ticket sellers can ensure that the tickets are only sold to legitimate buyers, and that they cannot be resold at a premium by unauthorized scalpers. To resell the ticket, the buyer must sell the entire wallet address containing the SBT, which allows for various constraints to be placed on the resale process.

This approach has several advantages over traditional ticketing systems. First, it helps to prevent scalping and ticket fraud, which can be a major problem in the entertainment industry. Second, it can help to create a more transparent and secure ticketing system that benefits both event organizers and ticket buyers. Finally, by using NFTs and blockchain technology, token gating can provide a new level of flexibility and control that is not possible with traditional paper or digital tickets.

In summary, if you’re looking for a way to prevent unauthorized resale and scalping of tickets, token gating may be a solution worth considering. By using non-fungible tokens and blockchain technology, it offers a more secure, transparent, and flexible ticketing system that benefits everyone involved.

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