Los Angeles, CA, June 27, 2024 (GLOBE NEWSWIRE) -- The company's technology aims to solve longstanding issues with ticket bots and scalpers that have plagued the industry for over 175 years.
In a recent webinar, IdBase CEO Alan Gelfand highlighted the persistent problem: "From PT Barnum in 1850 to Taylor Swift today, nothing has changed. Scalpers have had their way with every single thing they've done." Watch the full replay here: https://vimeo.com/969281986
IdBase's solution leverages biometric technology to authenticate attendees' true identities before allowing ticket purchases. This system:
- Neutralizes ticket scalping bots
- Guarantees equal access to tickets for legitimate fans
- Elevates event security by linking identities directly to tickets
- Optimizes venue operations by eliminating delays
The company's approach differs from competitors by focusing on identity verification, not mere facial image reading: "It's not about the ticket; it's about creating a true infrastructure that enables proper data capture and verification of a true identity," Geland explained.
Why now is the moment to act:
- Potential UK legislation following the July 4th election2 could require identity verification to enforce ticket resale price caps, impacting a population of 66 million. IdBase can fulfill that requirement.
- The US BOSS & SWIFT Act3 calls for enhanced measures to prevent unfair ticket practices, which IdBase's technology can support.
- Recent high-profile incidents have highlighted security concerns at live events, increasing demand for identity-linked ticketing.
- Artists and venues are seeking comprehensive solutions to ensure fair ticket access for fans while enhancing event security.
These government mandates can potentially prove a major boon to our business. If regulations such as these make IdBase’s technology a “must-have” for live events, the possibilities are endless, with vast potential applications even beyond music and sporting events.
IdBase's identity verification system can help address credit card fraud and chargebacks by linking tickets to verified identities, making it more difficult for fraudsters to use stolen credit card information for purchases.
IdBase has partnered with Aware Biometrics and Regula, leveraging their decades of experience in identity verification for government agencies. The company has also qualified for Tickets.com's developer registered partner program, potentially opening access to 150 major and minor league baseball teams.
"Our platform is not focused around the ticket but around the gate. So it works for every single type of ticket format for festivals, for wristbands, for special events (like the Masters golfing events) that will never allow a mobile ticket, for older generations that are still using printed home tickets," Gelfand explained. "That's the key - we're verifying everyone's true identity based on their biometrics, enhancing security, and ensuring fair access across all ticketing systems."
Interested investors can learn more and participate in the final day of IdBase's equity crowdfunding campaign at http://investinidbase.com/.
About IdBase: IdBase provides an identity verification platform for the live events industry. Its technology leverages biometrics to authenticate attendees' true identities, defeating ticket scalping bots and ensuring access to face-value pricing across all ticketing systems. By linking identities to tickets, IdBase enhances security while optimizing venue operations. The company aims to create a better ecosystem for fans, artists, teams, and venues.
Source:
- Live events industry includes music, sports, conferences, and more. Source: https://www.alliedmarketresearch.com/events-industry-market
- https://www.timesofisrael.com/new-polls-show-uks-labour-trouncing-conservatives-in-july-4-elections/
- https://www.blumenthal.senate.gov/newsroom/press/release/blumenthal-hirono-and-markey-introduce-boss_swift-act-to-protect-consumers-from-predatory-ticket-sellers--fees
