Leadership / 11.14.19
YellowHeart Founder/CEO Discusses New 'Socially Responsible' Ticketing Platform
Pollstar (11/05/19) Pittman, Sarah
YellowHeart is an autonomous and fully decentralized live event ticketing platform, billed as the first of its kind to be socially responsible. YellowHeart founder and CEO Josh Katz says the platform will operate on a public blockchain, and let artists and their teams sell directly to fans. Artists will be able to set maximum resale prices and earn a share of tickets resold via YellowHeart. Katz says because the platform is built on a public blockchain, "this allows for all transactions to be consensus driven and makes it impossible for third parties to game the system. It keeps everyone honest and identifies any bad players." Katz says both primary and secondary ticket sales will go through the platform, because "once a ticket is on YellowHeart, it is always controlled by YellowHeart, including when listed on secondary markets and via third party resellers, and all sales/transactions of that ticket will be connected, verified, and monitored through the platform." Tickets can only be sold through YellowHeart with artists' approval, and this will not affect the ticket-buying experience for users. "The change is in the transaction of the tickets, as all primary, secondary, etc. vendors will have to adhere to the rules of the tickets," Katz notes.
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Tags: Music , News , Leadership