HUMBL, INC. HUMBL Tickets Delivers An Innovative Digital Wallet and Ticketing Program For AFL Fans
The development and use by HUMBL Tickets of NFT-PMs (Non-Fungible Tokens with Private Metadata) represents a significant advancement in how pro sports, concert and event tickets can be issued, sold, and managed, leveraging blockchain technology to offer unique benefits over traditional paper or digital tickets.
“A major issue in primary and secondary ticketing is secure authentication, sales, and tracking, while maintaining the privacy of the user. This innovative HUMBL Tickets program solves these issues through the use of digital wallets and blockchain technology,” said
Here's a detailed look at the advantages of using HUMBL’s NFT tickets, especially those with public metadata (for public information like date and event location) and private metadata (for more specific event and seating details) to preserve customer privacy.
Control and Flexibility for the Ticket Holder
HUMBL’s NFT tickets put the control directly in the hands of the ticket holder. This means that individuals have the autonomy to sell or transfer their tickets without the need to go through third-party brokers or platforms. This is a direct control mechanism which
- Eliminates Middlemen: Ticket holders can sell their tickets on any NFT marketplace or directly to another individual without the intervention of secondary market merchants. This process is more straightforward and secure, thanks to blockchain.
- Reduces Fees: Traditional ticket reselling often involves high fees charged by brokers or platforms. With HUMBL’s NFT tickets, these exorbitant fees can be significantly reduced, ensuring that sellers can retain more from their sales and buyers don't overpay on junk fees.
Mitigation of Fraud and Counterfeiting Issues
The immutable nature of blockchain technology ensures that once a HUMBL NFT ticket is issued, its authenticity can be verified by anyone, anywhere, without any doubt. This characteristic:
- Prevents Counterfeiting: The unique, cryptographic proof of an NFT ticket makes it virtually impossible to forge or duplicate, addressing a common problem in the ticketing industry around the world.
- Ensures Authenticity: Every transaction (sale or transfer) of an NFT ticket is recorded on the blockchain, providing a transparent history of its ownership. This traceability helps buyers ensure they are purchasing legitimate tickets.
Enhanced Security and Privacy with Private Metadata
HUMBL’s NFT tickets can store essential details like event information and seating arrangements as private metadata, accessible only to the ticket holder and verifiable at the event entrance. This feature:
- Protects Sensitive Information: By keeping specific ticket details private, the system safeguards sensitive information from public exposure, enhancing security and privacy for the ticket holder.
- Offers Flexibility: The ability to update or change private metadata without altering the public identity of the NFT allows for dynamic adjustments, such as seat upgrades or changes, without issuing a new NFT. Upon transfer, the private metadata is no longer available to the previous ticket holder and the QR code for entry is voided and a new QR code is issued to the new ticket holder, preventing the ability to screenshot and sell / transfer the ticket.
NFTs are unique digital assets stored on a blockchain, and they can contain both public and private metadata. Public metadata is accessible to anyone and can include basic information about the NFT, such as the event name and date. In contrast, private metadata is encrypted and contains sensitive details related to the NFT ticket, such as:
- Pricing Information: The cost of the ticket, including any tier-based pricing or discounts applied.
- Seating Arrangements: Specific seat numbers, rows, and sections allocated to the ticket holder.
- Event-Specific Details: Any additional information exclusive to the event, such as VIP access, backstage passes, or special instructions.
Decryption with the Ticket Holder's Private Key
The private metadata is encrypted in such a way that it can only be decrypted using the ticket holder's wallet private key. Requiring the wallet to decrypt data ensures:
- Maximum Privacy: Only the ticket holder has access to the sensitive details of their ticket. This information is shielded from public view and even from the event organizers and ticket issuers after the point of sale.
- Enhanced Security: The use of encryption and private keys adds an additional layer of security, protecting against unauthorized access and potential fraud. It ensures that even if the data were intercepted, it would remain unreadable without the corresponding private key.
Benefits of Safeguarding Details in Private Metadata
- Protection Against Fraud: By keeping critical details encrypted, HUMBL NFT tickets significantly reduce the risk of counterfeit tickets. Fraudsters cannot replicate an NFT ticket without access to the private metadata.
- Data Integrity: The immutable nature of blockchain technology ensures that once an NFT ticket is issued, its details cannot be altered maliciously. This maintains the integrity of the ticket's information from issuance to the event day.
- Personalized Experience: Event organizers can tailor the event experience for individual attendees based on the private metadata, enhancing customer satisfaction without compromising privacy.
- Secondary Market Security: In the event of a ticket resale, the private metadata ensures that only the new ticket holder can access the ticket's sensitive details, providing a secure and seamless transfer process.
Overall Benefits of HUMBL’s Blockchain Ticketing System
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- Innovative Engagement: Event organizers can use NFT tickets to offer additional benefits, such as exclusive content, merchandise discounts, digital collectibles, or future purchase rights, enhancing the overall experience for attendees.
- Environmental Impact: Moving to digital NFT tickets reduces the need for physical tickets, contributing to environmental sustainability efforts.
In summary, HUMBL’s NFT ticketing system revolutionizes the ticketing industry by offering unparalleled security, reducing fraud, cutting down on exorbitant fees, and putting control back into the hands of ticket holders.
“The next generation of customers and digital natives expect the ticketing industry to become more digital, flexible and transparent,” said
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This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control. Except as may be required by law,
Company Information
Email: PR@HUMBL.com
Website: HUMBL.com
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