Hedera-based Wallet MINGO Unveils NFT-based Ticketing System

Hedera-based crypto wallet MINGO has revealed plans to revolutionize the ticketing industry by introducing an NFT-based Programmable Digital Ticketing (PDT) system.

The system will address several concerns peculiar to the industry, such as fraud, scalping, and resale inefficiencies, with a transparent solution having the backing of big names in sports and entertainment, including World Boxing Council (WBC), Fight Circus, NUCA MMA, Comic-Con Ireland and many more.

As part of the steps towards achieving this, the wallet’s native token, $MINGO, will go live on Coinstore exchange on Wednesday, December 18th, and is expected to be available on more exchanges like Bitmart by the end of the year.

With the new ticketing system and $MINGO token, MINGO is set to accelerate web3 adoption and bring more people into the crypto space.

Key Features of MINGO Tickets

MINGO tickets seek to address several issues associated with the traditional ticketing system. Therefore, The tickets will have features that benefit both event organizers and attendees.

For organizers, the benefits include fraud prevention by ensuring each ticket is tamper-proof, anti-scalping through price caps on resales, additional revenue through secondary sales, and seamless delivery within the MINGO wallet.

Benefits to attendees include perks such as NFT tickets with VIP upgrades and gifts from organizers, digital collectibles for memorable events, enhanced utility with access to more events, and secure resale processes to ensure fairness.

Innovation with High Security, Efficiency, and Sustainability

MINGO tickets are a remarkable innovation in ticketing. They combine practical, real-world applications with blockchain technology, offering benefits that traditional systems lack. Commenting on the new system, Joe Arthur, CEO of MINGO, said:

“We’re honoured to work with leaders across sports and entertainment to address the challenges of ticketing. Our NFT-based system isn’t just about tickets—it’s about delivering unforgettable experiences to fans while adding value for organizers.”

MINGO’s ticketing system benefits from Hedera’s low fees, high-speed transactions, and energy efficiency. The web3 wallet has been working with Hedera since 2018, and this is a significant milestone on its way to promoting the web3 space.

By eliminating fraud, protecting fans, and creating new value opportunities, MINGO sets the standard for event ticketing and makes it easier for millions of fans to enter the crypto space.