Incredible experiences define key moments in our lives, and purchasing tickets to those events creates the first impression of that experience. The legacy ticketing system is plagued by high fees and low user-friendliness. Parrotly is redefining event experiences with Web3 technology so buying tickets to an unforgettable night is unremarkable; as it should be. The NVS (NFT Verification System) is the first key infrastructure product by Parrotly Finance that utilizes NFTs for virtual and physical gating.
The NVS will harness the power of a secure blockchain connection to reduce fraud and ensure the authenticity of every ticket with precise, verifiable data on ticket ownership. Utilizing NFT and blockchain technology will reduce exorbitant prices caused by counterfeiters, scalpers, and bots and allow venues total control and insight over the primary and secondary markets. While pilot testing will take place on the Polygon Network, the NVS is compatible with any EVM network allowing event hosts to easily tap into the NFT industry and expand to new revenue streams. The NVS will enable venues and artists access to revenue from secondary ticket sales, something inaccessible with the legacy ticketing system.
The NVS will add a non-invasive blockchain layer to already existing ticketing activity; no knowledge of crypto or blockchain is needed. Parrotly processes all blockchain transactions, providing venues with all the benefits of the blockchain with no integrational risk. Ticket buyers will have access to a simple and rigorously tested user interface utilizing an integrated fiat on/off ramp that allows purchases with a credit or debit card like any other online purchase. This will make the transition from legacy ticketing platforms effortless, even for the most crypto-averse.
The NVS will also utilize DLT (digital ledger technology) in conjunction with an in-house database to provide a secure, non-fungible way to innovative user experience services unlike anything from legacy ticketing systems. Venues will be able to collect data from current and previous ticket holders, establishing the ability to incentivize and reward loyal fans with more enhanced experiences depending on their past interactions.