TicketSwap introduces new feature FairShare: Profit on tickets now divided fairly between fans and event organizers
TicketSwap introduces FairShare: a new feature that divides any profit on a sold ticket fairly between the seller of the ticket and the event organizer. With this, TicketSwap makes it possible for fans to invest in the event industry and supports organizers in producing unforgettable events in the future. The new feature also ensures that fans have less exposure to fraudulent or overpriced tickets.
Event organizers choose whether to turn on the FairShare feature. This divides the profit on a resold ticket - which at TicketSwap is a maximum of twenty percent* - equally between the seller of a ticket and the event organizer. With this, fans support their favorite artists and events and the used ticket market becomes a lot fairer. When FairShare is turned on and fans enter the price of the ticket they want to sell through TicketSwap, they get insight into the distribution of costs and revenues.
When FairShare is active, the barcode of a purchased ticket is not released until several hours before the event begins. Until then, the buyer can also choose to resell the ticket within this system. This ensures fans that their ticket remains protected until the event begins. The new feature also counteracts ticket traders (who resell tickets for profit), reducing fraudulent or overpriced tickets on unsecured platforms. This leaves more tickets for the real fans who want to get a ticket at a fair price and support their favorite artist or event. Among others, event organizers Rotterdam Rave, Chasing the Hihat, Elevation Events and This is Live Group already use FairShare.