Korean Entertainment Giant Powers Ticketing Platform with Avalanche
Dreamus, the entertainment events and streaming pioneer supporting globally known K-pop stars and most South Korean concert ticket sales, is now using Avalanche. The 21M loyalty users of its popular ticketing app, OK Cashbag, can now buy Avalanche-backed tickets in just a few clicks.
Dreamus, a subsidiary of the tech giant SK Planet, is using Avalanche for two purposes: to improve the ticketing experience and to widen its sizable lead in the $230M Korean concert ticket industry.
OK Cashbag is available to all South Koreans.
The country’s music fans are already using OK Cashbag to buy Avalanche-backed tickets to events like Seoul Jazz Festival 2023 and the Phantom of the Opera Musical.
Tickets are backed by a dedicated Avalanche Subnet. Launched earlier this year, Avalanche and SK Planet’s UPTN Subnet continues to demonstrate innovation with blockchain for mass consumer use cases, tapping into OK Cashbag’s 21M loyalty users and the explosive growth of South Korea’s music, live concerts, and fan meetup industry.
Dreamus and SK Planet are harnessing Avalanche to build a “Blockchain Ticket Total Solution Service.” They are using Avalanche to improve ticketing in major ways, including:
- Enabling easy digital transactions
- Circumventing scalping issues
- Curbing secondary market abuse
- Fixing issues with counterfeit tickets
OK Cashbag already has on-chain ticket issuance and storage. (Check out a sample ticket sale for the Seoul Jazz festival on Avalanche’s Subnet explorer.) Later this year, Dreamus and SK Planet plan to launch a secondary marketplace with loyalty and other expanded features.
“Blockchain-based anti-scalping tickets are phenomenal for fans because they simplify the onsite authentication process, and allow event organizers to greatly improve the overall event experience," said Gyosu Kim, Chief Business Officer (B2C), SK Planet. “Through our collaboration with Dreamus and Avalanche, we are revitalizing the entertainment industry by vastly upgrading ticketing processes."
“It is truly amazing to watch these dynamic, real-world Web3 use cases come to life for K-pop fans and the entertainment industry at large,” said Justin Kim, Head of Korea, Ava Labs. “The next phase of our integration with ecosystem partners SK Planet and Dreamus, combining their vision and expertise with Avalanche’s industry-leading blockchain protocol, is incredibly exciting.”
Dreamus is behind distribution and events for globally recognized K-pop stars like Twice, Psy, and MissA.
This exciting integration was first publicly mentioned at Avalanche House Seoul.
About Ava Labs
Ava Labs makes it simple to deploy high-performance solutions for Web3, led by innovations on Avalanche. The company was founded by Cornell computer scientists, who partnered with Wall Street veterans and early Web3 leaders to execute a promising vision for redefining the way people build and use open, permissionless networks. Ava Labs is redefining the way people create value with Web3.
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Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.