The equation of concert planning has always started from and
consisted of concert producers, organizers and artists. KStarCoin
plans to change that equation.
KStarLive will implement a crowdfunding and marketing influencer
protocol to provide a pre-sale + promotional event discounts to
fans, while partnering up with influencers (which may include
fans/users) within the platform for self-promotion of the event.
This allows fans to support their favorite artists and
significantly increase the ability of concerts, of their favorite
artists, to take place in Korea and their local country.
This is accomplished by introducing a smart-ticketing protocol
built upon the Ethereum blockchain that will facilitate the sale of
event tickets by issuing smart tickets to wallet addresses on the
blockchain. The owner of such a smart ticket is also free to
anonymously sell his or her ticket but has to do so within the
decentralized infrastructure of the protocol. This ensures that
ticket trades are done safely and within a set price margin.
Also, influencers are individuals who have a large social media
following and are paid by brands in an effort to direct some of
their traffic to said brands. Though it is a common practice, it
has its challenges since the terms of the contracts vary from brand
to brand and influencer to influencer, without transparency.
Blockchain-based smart contracts can be written to reduce potential
conflicts arising during cross- promotional engagements. These
self-executing smart contracts can automatically pay the influencer
once he or she has published the agreed-upon promotional content.
This would alleviate any potential issues between the advertiser
and the influencer as the terms of the contract and the payment
obligation would be coded into the smart contract.
There are also value added to original players in the market.
Ticket fraud and secondary ticket prices are problems that had
artists and their fans have worried about since the times of
Shakespeare and Seo Taiji. At least 1/4 of all tickets sold are
purchased via bots or scammers and resold at prices that are 200 -
300% or even up to 1000% of the original price. The ticket market
is non-transparent, and inexplicable transaction costs added to
tickets are common practice among ticketing companies.
The solution is a blockchain based event ticketing protocol used
booking companies and marketing influencers that will make
secondary market ticket prices and ticket fraud occurrences
disappear. The protocol will offer these features while providing
absolute transparency for all parties involved from the artist to
Ethereum ERC20 standard token.
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