Dreamus, the pioneer in entertainment events and streaming that supports popular K-pop stars and dominates South Korean concert ticket sales, has announced its adoption of Avalanche, a blockchain platform.
The 21 million loyalty users of Dreamus’ ticketing app, OK Cashbag, can now purchase Avalanche-backed tickets with just a few clicks. The move is aimed at enhancing the ticketing experience and further solidifying Dreamus’ position in the $230 million Korean concert ticket industry.
OK Cashbag is accessible to all South Koreans, and music fans in the country are already utilizing the platform to purchase Avalanche-backed tickets for events like the Seoul Jazz Festival 2023 and the Phantom of the Opera Musical. These tickets are backed by a dedicated Avalanche Subnet.
Avalanche, along with SK Planet’s UPTN Subnet, which was launched earlier this year, is focused on revolutionizing blockchain applications for mass consumers and tapping into the growth of South Korea’s music, live concerts, and fan meet-up industry.
Dreamus and SK Planet are leveraging Avalanche to build a “Blockchain Ticket Total Solution Service.” The platform aims to facilitate easy digital transactions, address scalping issues, prevent secondary market abuse, and eliminate counterfeit tickets. OK Cashbag already has on-chain ticket issuance and storage, and the companies plan to launch a secondary marketplace later this year with expanded features.
Gyosu Kim, Chief Business Officer (B2C) at SK Planet, highlighted the benefits of blockchain-based anti-scalping tickets for fans, simplifying the authentication process and enhancing the overall event experience. Justin Kim, Head of Korea at Ava Labs, the team behind Avalanche, expressed excitement about the real-world adoption of Web3 use cases in the entertainment industry and for K-pop fans.
Dreamus has been responsible for the distribution and organization of events for globally recognized K-pop stars such as Twice, Psy, and MissA. The integration of Avalanche was first mentioned at Avalanche House Seoul.
Ava Labs, the company behind Avalanche, aims to simplify the deployment of high-performance solutions for Web3 platforms. Founded by Cornell computer scientists and partnering with Wall Street veterans, Ava Labs is revolutionizing the way people create value with Web3 technology. Avalanche, known for its scalability and speedy transaction finalization, is a smart contracts platform at the forefront of innovation.
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