LA Weekly (11/04/22)

Gybsy seeks to give venues and performers access to a Web3.0 commerce platform that supports ticketing functionality, seamlessly generating event tickets and access passes stamped as nonfungible tokens (NFTs). Gybsy's website states that its purpose is to elevate live events and "place power and profits back in the hands of the value creators." Participating venues and performers can take advantage of the platform's proprietary tools to create, distribute, track and confirm event tickets, which will draw consumers who wish to engage in frictionless transactions. Venues, promoters and performers can employ Gybsy's smart contract technology to establish, control and earn commissions from the secondary ticket sales in addition to residual royalties on all NFT sales. Consumers can also be verified through Know Your Customer information, reducing fraud and cultivating trust within the network.

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