Background: Ticketing is at the core of Live-Entertainment and is present in every aspect of it. At OOVAL our aim is to help improve this massively exciting industry - Live-Entertainment ticketing, by using cutting edge technology and a fresh approach to the market.
Be the back-bone infrastructure for the new paradigm in Live-Entertainment
We believe Live-Entertainment ($2T by 2028) is about event organizers providing fans with an unparalleled experience that extends beyond just attending the event.
Hence, our two overarching goals:
Grant organizers freedom, autonomy and live control of their own ticket inventory, both in first and resale markets
Help organizers provide access to a complete universe of entertainment by creating a dynamic interconnected ecosystem.
The market of providing fans access to a universe of experiences through a token has traditionally been called ticketing, but we aim to transform it into something more powerful than a short-lived, limited paper ticket.
Imagine if you, as a leading event organizer, could maximize attendance by leveraging all points of contact with your audience, expanding your reach throughout your entire ecosystem, while maintaining control over the ticket inventory, both in first and resale markets?
We introduce you to the OOVAL ticketing engine.
In this era of unprecedented technological advancements such as blockchain-based markets and advanced AI, a cutting-edge ticketing engine strategically positioned to utilize them can pave the way for a future where fans can buy and trade tickets with confidence, organizers can thrive, and governments do not have to intervene at every step of the way in the ticketing industry to ensure a fair market.
It is high time for the ticketing industry to embrace the power of technology, just as many other industries have done over the past three decades. Event organizers and their customers have been inadvertently sidelined for far too long, and ticketing is one of the last industries to experience the tech revolution.
This is an audacious goal. Because the entire live-events sector revolves around fans entering the event, or what is commonly known as ticketing, ticketing is a crucial infrastructure for the business of event organizers. For this reason, the market has historically been conservative, with the approach of "it's bad, but it works," being slow to adopt innovative solutions.
Our target is clear:
Develop the ticketing infrastructure enabling Live-Entertainment
Use technology to help brands' through automation, AI, and blockchain
Our highly customizable ticketing engine, with advanced inventory management and live oversight capabilities of the markets, along with an eco-system approach, empowers you, the event organizer, to create the ultimate fan experience.
To make our vision a reality, we partnered with like-minded people and organizations like Growth Zone Ventures who share our craziness and passion for sports, innovation & the entire sector of Live-Events.
The ticketing industry faces well-known problems in the consumer segment, such as scalping, price gouging, fraudulent tickets, high fees, and lack of transparency.
However, event organizers also face significant challenges that are often overlooked - they are losing the race for the attention of their ticket buyers. Limited ticket inventory capabilities, no data or brand ownership, a lack of market oversight, and an inability to perform advanced data analytics, coupled with old and monolithic infrastructure, lackluster operational features, and error-prone systems, have left organizers at a disadvantage.
As a result, as an event organizer, you are losing market share to other forms of entertainment.
Ticketing has remained largely unchanged since the days of the Colosseum 2000 years ago. Today, the industry faces problems because it has tried for almost 50 years to adapt outdated, physics-limited, stone-based tickets to the digital era. Our vision is to transform tickets from basic access tokens to programmable gateways that unlock a complete universe of experiences, whether physical or digital.
Thankfully, technological advancements now allow event organizers to capitalize on the shift towards digital goods. By leveraging blockchain technology for distribution, tickets become fully digital & programmable objects that can be tracked throughout their entire lifecycle, from sale to access control and even after the event.
Imagine being an organizer with the ability to indefinetly extend the lifetime of a ticket and reach fans far beyond the event itself thorugh specific activations. With some simple math, by selling 1 million programmable tickets per while controlling the primary and resale markets, you could reach more than 100 million fans in 10 years - and this connection can be kept alive indefinitely.
Our ticketing engine is designed for unlimited flexbility to address the challenges of the modern Live-Entertainment industry. Technology has no intrinsic value by itself, if the user experience is lacking. This is why we aim for a seamless developer & user experience by combining the blockchain infrastructure and AI capabiltities with versatile, developer-friendly APIs. The entire complexity and granularity are abstracted, making everything possible at an API call distance.
Ticketing is at a crossroads, with incredible potential but also significant challenges to overcome. It is crucially important that we plan accordingly to address these challenges and take advantage of the opportunities ahead.
In summary, here is the first phase of our Master Plan:
It's time to build.