Here is a breakdown of how Phinge technology will address these issues:
Stopping bot buying
Bots thrive on creating thousands of fake accounts to bypass purchase limits and scoop up large volumes of tickets. Phinge's approach removes this possibility at the source.
- Hardware-based authentication: All users are required to register and be verified through a proprietary Phinge patented mobile device. Netverse is not an app you can download onto a general smartphone. It is a patented app-less platform and ecosystem accessible only through its hardware. The hardware-based verification will ensure every account is linked to a single, real person, making it virtually impossible for bots to be used.
- Eliminating fake accounts: The hardware dependency also prevents the creation of fake or "synthetic" accounts, a common tactic for evading anti-fraud systems. This blocks bots from getting access to the ticket inventory in the first place.
Counterfeit tickets succeed because traditional ticketing systems lack a secure, public record of a ticket's authenticity and ownership. Phinge's Netverse technology resolves this.
- Unique verified tickets: Tickets would be issued as unique verified tickets. This will make each ticket a unique digital asset that is impossible to duplicate or forge. They will be tracked from the time they are purchased until the time of redemption.
- Verifiable ownership history: Netverse will provide a tamper-proof, transparent record of every transaction for a given ticket. Any attempt to sell a counterfeit ticket would fail because it wouldn't have a verifiable history on Netverse. Tickets may be sold to any verified user on Netverse.
Scalpers rely on a fragmented secondary market where they can resell tickets for inflated prices. Netverse would address this through the use of verified contracts through its ecosystem.
- Enforced resale rules: Smart contracts can program specific resale conditions directly into the ticket. This would allow event organizers to set an individual ticket maximum per individual and enforce a maximum resale price, capping it at or near face value or a % above.
- Controlled secondary market: All resales would be required to occur on the verified Netverse platform, eliminating the ability for scalpers to profit on external, uncontrolled marketplaces.
- Direct-to-fan sales: By removing the middleman, organizers can sell directly to verified fans. With bot-buying eliminated and resale prices capped, the incentive for scalping is drastically reduced.
Phinge's "app-less" technology is a core part of its security strategy.
- Exclusive ecosystem: Netverse cannot be accessed through other vendors hardware or traditional apps on devices from Apple or Google, which creates a closed and secure ecosystem. This prevents external services and malicious software from interacting with the platform.
- Minimized vulnerabilities: By controlling the hardware and software through Netverse, Phinge will minimize vulnerabilities that are typically exploited by hackers and bots on open platforms. The reliance on built-in, systemic security reduces the need for constant, external cybersecurity updates and software.
- Increased perks to fans by artists: Artists can incentivize their fans based on factors, such as frequency of concerts they attend, total dollar amount of their purchases or referral rewards they make for the artist. These perks could include early opportunities to purchase tickets, additional quantities available per event or early releases of songs or bonus tracks. Artists can incentivize their fans with extra rewards for certain types of engagement in real-time. This is great if venues have not sold out.
- Current ticket seller platforms: They are notorious for their high and often hidden service fees, which have led to billions in consumer payments. A portion of these fees is often shared with venues and promoters, creating a financial incentive to stick with the system and keep fees high.
- Netverse: Will only charge a fixed, lower 10% commission on point-of-sale transactions. Artist will get a minimum amount of free advertising for each event to drive sales and visibility. This is especially beneficial for up-and-coming artists. This transparent pricing model, which replaces current big ticket seller platforms variable and sometimes exorbitant fees, would be more equitable for consumers.
- Current ticket seller platforms: Has no integrated reward system for customers across different events. Loyalty programs are often limited or tied to specific vendors.
- Netverse: Will features a universal rewards system that can be earned and redeemed same-as-cash across the entire Netverse ecosystem. A fan could use rewards earned from buying a concert ticket to purchase merchandise from another vendor on the platform, fostering a more engaging and rewarding experience.
Core business model
| Feature | Netverse Ticketing Model | Current Big Ticket Sellers Model |
| Platform | A centralized-decentralized, "app-less" ecosystem. Organizers and fans operate on a common, verifiable ecosystem. | A centralized, proprietary system controlled by them. They operate as gatekeepers for event entry. |
| Revenue | Revenue is generated through transparent, fixed, transaction fees codified in smart contracts. A portion could be paid to artists, cutting out excess fees charged to fans. | Revenue comes from multiple sources, including service fees to fans, fees to venues, and profits from the secondary market, which may include cooperating with scalpers. |
| Control | Puts control back into the hands of artists and event organizers. They can set quantity limits, fair resale prices and receive royalties from secondary market sales. | Exerts centralized control over the primary and secondary ticket markets by owning venues and signing exclusive contracts. |
| Data Ownership | Customer data is decentralized and tied to individual verified identities who own their data, potentially giving organizers more direct access to fan behavior and preferences with their prior permission. | All data is proprietary and owned by them, which they use to further their market dominance and business strategy. |
Technology and security
| Feature | Netverse Ticketing Model | Current Big Ticket Sellers Model |
| User Identity | Patented, hardware-based authentication is required for access, linking a real person to their ticket. This prevents bot creation and fake accounts. | Identity verification is based on software-level checks, which are susceptible to bots and sophisticated fraud. |
| Ticketing Security | Tickets are issued as unique trackable contracts making them tamper-proof and impossible to duplicate. | Traditional digital and paper tickets can be vulnerable to counterfeiting and fraud. |
| Resale Market | Enforces rules through Netverse for a controlled, verified secondary market. Smart contracts automatically enforce price caps and distribute royalties. | Resale occurs on their own platforms or through affiliated partners, where they profit from additional fees. They can profit from inflated resale prices. |
| Ecosystem Access | A closed, secure ecosystem that bypasses traditional app stores. This removes high app store commissions and minimizes software vulnerabilities. | They rely on traditional app store infrastructure for mobile purchases, with potential exposure to external risks and fees. |
Market dynamics and disruption
| Feature | Netverse Ticketing Model | Current Big Ticket Sellers Model |
| Market Entry | Focuses on providing a platform for event organizers to bypass big ticket seller platforms to sell directly to a verified audience for increased profits and control. | Uses their existing network of venues, contracts, and market dominance to maintain control. It makes it difficult for competitors to enter the market. |
| Fan Experience | Uses transparent Netverse technology to give fans assurance that they are purchasing a valid ticket at a fair price. Its reward system will create direct engagement with the artist. | Consumers often face frustrating experiences with high fees, technical issues during on-sales (e.g., Eras Tour), and lack of price transparency. |
| Regulatory Risk | Potential to offer a solution that aligns with consumer protection concerns and anti-monopoly efforts that target current big ticket seller models. | Constantly under legal and political scrutiny, facing multiple lawsuits over antitrust violations and alleged illegal resale tactics. |
Netverse will be a safer, cost saving alternative to current, big ticket sellers platforms, primarily by eliminating the centralized monopoly that leads to high fees, bot-driven scalping, and a poor user experience. By leveraging a verified, app-less platform accessed through its own proprietary hardware, Phinge aims to create a more transparent, secure, and rewarding ecosystem for artists, businesses, and fans.
You may learn more about Netverse and it's patented, magnetically attachable smartphones and devices by visiting Phinge's websites at
https://www.phinge.com
To get on a contact list please fill out the online form here
https://www.phinge.com/netverseai.html
About Phinge Corporation
Phinge was founded and through Netverse® is being developed to disrupt today's outdated App technologies, including the App-store duopoly, by partnering with and giving its users and businesses ownership and control of their data, enhanced privacy and a better overall mobile experience including their ability to monetize it.
Phinge through its upcoming patented Netverse App-less technology platform with proprietary AI, will be a better, safer, verified and rewarding alternative platform and technology for users and third party businesses and developers to today's App stores, operating systems and ecosystems of Apple, Google and Android.
Netverse will not be an App or Super App that resides on the major technology platforms of today.
Instead, it will be a standalone, all-in-one, app-less platform, accessible only through Phinge's revolutionary, patented, Mobile Hardware which includes Magnetically Attachable/Detachable Phones, Tablets, Mobile Gaming Systems and peripherals like the stylish, wireless earbuds with interchangeable batteries and built-in sensor screens for continuous usage without recharging and Smart Watches that never need to be charged as they come with stylish external, interchangeable bezels with built~in rechargeable batteries and come in a variety of colors, patterns and finishes.
Netverse will be a verified, centralized-decentralized platform.
Centralized in the way it provides universal safeguards through verification of all users, businesses, organizations, entities and IP through Phinge's patented Netverse technologies and hardware.
Centralized because Phinge and Netverse will be compliant with all government regulations regarding data and privacy.
Decentralized because all thirty party platforms will be compliant with all government regulations regarding data and privacy as soon as they are verified and join Netverse.
Decentralized because its users, businesses, organizations and entities will have the power to live, work and thrive in a verified world.
Netverse will benefit all verified users and approved, verified third party businesses, developers and platforms on Netverse in ways not possible with today's technology, including total verification of all users, businesses, organizations, platforms and entities.
Photos: (Click photo to enlarge)
Source: Phinge Corporation
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