AlphaWallet, an Ethereum mobile wallet, has said they will tokenize 20,000 VIP UEFA Euro 2020 tickets. In an interview with Digital Journal, CEO of AlphaWallet CEO Victor Zhang, disclosed the progress.
During the next year’s UEFA Euro 2020 Tournament, the VIP ticket holders will make use of the blockchain technology made available by AlphaWallet.
The tokenization platform was developed using Ethereum blockchain.
The first phase, according to him, was tested during the FIFA World Cup 2018 in Russia. The blockchain firm during that time solved some of the biggest issues like regulatory issues and fraud in the ticketing firm.
Victor said AlphaWallet confirmed a partnership with UEFA’s official Sales Agent, Shankai, in October, and the firm has granted them permission to tokenize +20,000 official VIP tickets using blockchain.
AlphaWallet had a successful experience with Shankai during the FIFA World Cup 2018, when they were made the exclusive sales agent during the game.
While Shankai provides money, tickets and trust anchor, AlphaWallet is to offer the technologies. He said the security of the platform is as high as that of the Ethereum blockchain.
According to him, Blockchain is very important for modern businesses considering that it does the same thing, as trusted third parties in the past economies.
“In 5 to 10 years from now, if you ask a business ‘Do you have tokens?’ they will have the same feeling as if you ask them, ‘Do you have a website?’”
Blockchain technology is being applied in several businesses across the world. Stryking, a blockchain platform centered on selling sport NFTs to sport lovers. Stryking, just completed its Christmas Auction for FC Bayern Munich NFTs, generating more than 240ETH, around $30,000 in sales.