Slate Entertainment Group (SEG) Unveils Slatix: A mobile, blockchain-ticketing platform

Toronto, Canada — — Slate Entertainment Group (SEG) has unveiled their new blockchain ticketing application: Slatix.
Slatix is a decentralized entertainment ticketing solution that will be designed to slash end-user fees, prevent fraudulent peer-to-peer sales, and become the trusted conduit for payment by Slate for movies, concerts, sporting events, and anywhere tickets are required for entry. Since blockchain technology tracks, shares, stores and verifies information, tickets purchased with Slatix would be impossible to counterfeit. Blockchain technology provides a secure platform for enterprise to accept Slate digital tokens as payment for tickets, memberships and merchandise.
Recently, SEG has partnered up with famed film festival Sitges. With this partnership, Sitges International Fantastic Film Festival will become the first to begin the entertainment revolution by accepting cryptocurrency as a form of payment. SEG’s token , Slate(SLX), will be used to purchase tickets for the Sitges festival.
Now, we have to understand that Slatix is not just for the cryptocurrency community. Currently, when we buy tickets for events, movies, etc…, we are stricken by fees that might make our tickets 50% more expensive. We know at SEG that this is an issue that bothers everyone that wants to have a convenient, affordable platform to purchase tickets.
How do we end this issue? By using blockchain technology, a peer-to-peer network, we eliminate the middleman that marks up the prices. It is incredibly frustrating to see one price for a ticket online and by the end of the transaction, an accumulation of fees has increased the price, perhaps, 1.5x more than expected.
As a decentralized blockchain driven application, Slatix service fees are expected to be a fraction of the price of other service providers. In addition, payment by Slate token should result in further reductions through the elimination of higher fees associated with credit cards. The Slatix business model is not dependent on large fees but rather smaller fees on a larger volume of transactions. The goal of Slatix is two-fold: i) improving the utility of the token, and ii) create awareness to a large Slatix application user base.
Again, as complicated as some of the technology behind the platform sounds, this application is for the common person. By using Slate (SLX) as a form of payment, we have quick, easy, and transparent transactions that will bring a functional and simple solution to the ticketing marketplace.

Let’s walk through the customer experience on a traditional ticketing app :

The Want

John wants to see his favourite artist, Childish Gambino, perform at Madison Square Garden this summer. John works at a coffee shop during the summer to pay for his education. We know that Gambino’s popularity means tickets are going to be fairly expensive from the get go. So he already knows that right off the bat, he is going to look for nosebleed seats. John logs on to his ‘insert platform here’ account and begins looking for seats. The 300 level costs, on average, $100.

The Rundown

John then selects his seats with a chart that shows him what is available. John also has a friend that he is buying a ticket for so he selects the only two together in that section and hits the checkout button.

The Info

John then enters the ‘checkout’ section of the platform and sees his final price for two tickets. He notices the price, with taxes and unidentifiable service fees, has given him a total of $300. Reluctantly, John hits buy tickets, even though, when taking into account the original price, he has paid for a third ticket in fees and taxes.

The Ticket

John and his friend get to the Garden when doors open for the show with printed out tickets in hand. They get through the security check and present their tickets to the ticket taker. The tickets are scanned, but something is wrong. The ticket taker says they are not scanning. The tickets are fraudulent. John bought them on a secondary sale site because they were a little less expensive than the primary market. $300 spent and nothing to show for it because of the non-transparent secondary market.

Now let’s see how this all goes down if John were using SEG’s Slatix instead :

The Want

John wants to see his favourite artist, Childish Gambino, perform at Madison Square Garden this summer. John has been eager to go see him since he started reading reviews of his shows via the Slatix app. John opens the app to go buy his tickets and sees that the show is at the top of his suggested events because of the preliminary research on the show. Tickets for nosebleeds on the traditional market are $100.

The Rundown

John looks for the seats he wants to buy through a traditional seating chart on the Slatix app. He finds two tickets in the 300s section for 10 SLX a ticket. He selects these tickets and heads to the checkout section of the Slatix app.

The Info

John has 500 Slate (SLX) in his Slatix wallet. John bought his SLX when it was worth just $1 a piece. Now, the token is worth $10. So John is able to get his tickets at a lower price based on how much the token cost him in the first place! John buys two tickets: one for him and one for a friend. Because his friend also has the Slatix app, he can pay back John immediately with SLX with one push of a button. The price of the tickets together is 20SLX−based on the current market price of the token. No fees, completely transparent and affordable. When John hits the purchase button, he gets a notification from Slatix saying he has been ‘Leveled Up’ because of his loyal purchases through Slatix. He has now been entered into an exclusive draw for upgraded tickets at the show.

The Ticket

John is supposed to meet his friend outside the stadium before the show, turns out he can’t make it! So John now has an extra ticket. Through the Slatix App, he puts his second ticket up for sale to be immediately transferred to the purchaser upon payment. His ticket is sold quickly, as tickets for the show are in high demand. John goes to the ticket taker and shows his QR code for his ticket on the app, gets into the show on time, stress free, with a non-fraudulent ticket.

Why Slatix :

Not only are we incentivizing customers to use Slate (SLX), we are giving them a transparent, fair and enjoyable experience. No longer will we have to complain as much about tickets being too expensive, unfairly purchased by bots, and so on. When you break it down to the core level, we all just want to buy a ticket to some form of entertainment. If we have a lousy experience before we even get to the event, then it already leaves a sour taste in your mouth. Entertainment is here for us to escape into another world in some form or another. If unfair scenarios to get there strike us, then we aren’t able gain access to that truly unexplainable world we are brought to through entertainment.