Blockchain Ticketing Platform UTIX Lists Its Token on Uniswap

chainwire

UTIX, a blockchain-based e-ticketing platform, enhances its accessibility by listing its native UTX token on Uniswap, enabling on-chain trading and bolstering its innovative ticketing ecosystem.

Blockchain ticketing platform UTIX is listing its native token on Uniswap. The UTX token will now be traded onchain via Uniswap’s AMM and from DEX aggregators that utilize Uniswap liquidity. By making UTX tradable on Uniswap, UTIX will increase access to its native token and e-ticketing ecosystem.

On December 21st, the UTX token will be added to Uniswap, the leading Ethereum decentralized exchange. A UTX-ETH liquidity pool will be created, and allow users to purchase UTX using ETH and other popular tokens. As an ERC20 token, UTX can be traded non-custodially on Uniswap and through aggregators such as 1inch and DefiLlama Swap.

Uniswap has become the first DEX where UTX can be swapped. Its addition follows a recent listing on BitMart, giving holders a choice of centralized and decentralized platforms to trade. In addition to buying and selling the token on Uniswap, UTX holders can add liquidity, allowing them to receive a percentage of swap fees while retaining ownership of their tokens.

UTX is at the heart of the e-ticketing platform that UTIX has developed. It aims to solve many of the long-standing problems with event ticketing. The industry is afflicted by touting and price gouging that reward middlemen while pricing fans out of seeing the artists they love. UTIX is creating a digital ticketing ecosystem in which buyers and sellers can exchange tickets through a transparent P2P marketplace.

Built on the Ethereum network, UTIX allows event organizers to create fully customizable ticketing solutions. Smart contracts are used to control the sale of tickets, supporting a fair ticketing market that ensures fans aren’t priced out of attending events. The platform is free for event organizers to use, with UTIX charging only a small fee on tickets sold.

The UTX token plays a pivotal role in incentivizing the adoption of the UTIX platform and rewarding positive behaviors. Users who purchase tickets on UTIX are rewarded with UTX, which can also be used to earn discounts on future purchases. From the perspective of event organizers, UTIX allows control over the secondary market, preventing touts from reselling tickets for a premium. The use of blockchain also prevents fakes by providing an immutable ledger that tracks legitimate tickets.

By abstracting blockchain components, UTIX delivers a web3 platform that feels like a web2 application. This ensures there is no learning curve required to access its e-ticketing solution and to interact with the smart contracts that power it. The addition of UTX to Uniswap will maintain UTIX’s close ties to the Ethereum ecosystem while onboarding new users to its e-ticketing platform.

About UTIX

UTIX is a blockchain-based online e-ticketing platform that enables event organizers across the world to sell online tickets with minimal hassle and greater control. Powered by Ethereum, UTIX aims to eliminate the efficiencies associated with legacy e-ticketing platforms through the use of smart contracts.

Users and event organizers will be unaware they are using the blockchain, yet by harnessing its unique capabilities, UTIX allows full control of event-specific variables that would otherwise be impossible. In addition to eliminating the threat of counterfeits, UTIX provides a way to set the secondary market price for e-tickets, permanently solving the problem of ticket touts who routinely try to sell tickets at a massive markup.

Learn more: https://www.utix.us/

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

  • Read this next

    Digital Assets

    SBF claims “zero loss” to FTX customers, 100-year sentence is “grotesque”

    Sam Bankman-Fried, the former FTX CEO who was found guilty of fraud charges last year, is facing his sentencing next month. But before that day arrives, he’s making a plea for what he considers a fair shake.

    Digital Assets

    Bitcoin nears $62,000, sparking retail buying frenzy

    Bitcoin dashed past the $61,000 barrier on Wednesday, a peak it hadn’t touched since the waning days of November 2021.

    Market News

    OPEC+ Extension of Oil Output Cut Causes Rally

    The dynamics surrounding crude oil are indeed fascinating, given its unique role as both a globally traded commodity and a vital energy source deeply influenced by the OPEC+ alliance’s decisions.

    Institutional FX

    DKK reports 226% growth in 2023 with eyes on African expansion

    “Our numbers are beginning to show how we are powering, the growth required by emerging markets, and we plan for the success of our strategies to continue to thrive in 2024.”

    Industry News

    ‘WTF’ as in ‘What The Fraud?’, Sumsub’s new podcast on digital fraud

    “We found a lack of informative podcasts talking about digital fraud threats and prevention for business owners. So, we decided to dive in and share our expertise along with industry top minds in the ‘What The Fraud?’ podcast.”

    Digital Assets

    Coin Metrics integrates market data from Cboe Digital

    “We are pleased to work with Coin Metrics and believe that having quality and timely data, and systems to analyze that data, will help crypto markets mature as well as evolve to become a core component of a diversified investment portfolio. We are focused on providing access and solutions to the spot and derivatives crypto market in a way which mirrors an investor’s experience with traditional markets.”

    Fintech

    AU10TIX launches KYB solution to address regulatory requirements

    “Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world. Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024.”

    Digital Assets

    Japan Is Rapidly Emerging As A Global Leader In Compliant Crypto Payments

    Japan is often hailed as one of the most forward-thinking nations in the crypto industry, with its government taking a very positive stance on the potential of concepts such as Web3. 

    Digital Assets

    Kraken launches institutional arm

    “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

    <