Nevis-St.Kitts, June 28, 2022 (GLOBE NEWSWIRE) — Traditionally, people buy tickets for events and concerts through authorized ticket brokers. With subsequent innovations, the industry has explored digitally transmitted tickets through online channels and websites and, more recently, issuing tickets as NFTs. However, the disproportionate relationship between supply and demand has caused people to look to unofficial sources, leading to fraudulent purchases and scams.
Buying tickets on the internet is an extreme sport these days. While blockchain technology and decentralized finance have undoubtedly made obtaining authentic tickets easier, it also has apparent weaknesses. In recent months, NFT ticket sales have been through the roof, and fake NFT ticket purchases have reached all-time-high levels.
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Common ticket scams
Ticket scams occur in different forms, but selling counterfeit or stolen tickets is the most common scheme. Scam artists frequently pose as genuine sellers online or through classified ads, advertising cheap tickets, or access to sold-out events to potential buyers.
According to a poll of 1,000 American adults from ticketing technology firm, Aventus, 12% of consumers purchased scam concert tickets online. Statista reports that for every 94 million people who attend concerts in the United States, 11…
