LOS ANGELES (CelebrityAccess) – The Chainsmokers and their manager Adam Alpert, who is also the CEO of Disruptor Records, have thrown their support behind a new ticketing platform called YellowHeart.
Founded by music executive Josh Katz and set to launch in 2020, the platform is fully decentralized and runs on a public blockchain. According to TechCrunch, YellowHeart aims to allow musicians, concert venues or other ‘event initiators’ to set up rules for how their tickets are sold and traded by setting maximum resale prices, ensuring tickets are distributed to ‘genuine fans’ and electing to earn a share of tickets resold in YellowHeart’s secondary marketplace. The platform also enables users to determine who shares in the profits.
Josh Katz, YellowHeart Founder and CEO, said: “The plague of the scalping industry is something I’ve talked to artists and friends about for years, and with the unprecedented growth of this underground system, we knew it was time to find a real solution. While technology and secondary ticketing sites are to blame for the growth of scalpers, we believe that technology is also our solution. Blockchain offers us the unique ability to track the entire ticketing lifecycle, which means the tickets end up in the hands of the fans, and no one else.”
Alpert added: “With The Chainsmokers, we’ve been outspoken about the issue of scalpers for years, and are excited to partner with YellowHeart to provide a smart and effective solution that gives control back to artists and fans. As we continue to build this platform, we are focused on the issues that matter to us and our peers across genres. As you would expect, we’ve received incredible support from others in the industry who plan on joining our mission over the coming year.”