Bombo: the startup that combats fraud in the sale of electronic tickets

Bombo: the startup that combats fraud in the sale of electronic tickets

Bombo is an application developed by a pioneering startup when it comes to electronic tickets. Launched in Argentina, it was designed to reduce fraud, since it uses solid blockchain technology to offer its services in the field of concerts. Specifically, the application offers electronic ticket sales for concerts and events. These are tickets that work with NFT –Not Fungible Tokens– technology. In this way, purchases are much more secure.

Another advantage of the application is that it has the ability to sell tickets without requiring a virtual queue or waiting time. A record that the startup holds is that it recently sold ten thousand tickets in a little more than half an hour. The application already has more than one hundred and fifty thousand users in the South American country. The figure was achieved in just four months since its launch. At the same time, the startup also has its own network that allows for promoting interaction between the different actors in the sector.

Zero fraud and resale

The system that uses the Bombo application for the sale of electronic tickets reduced fraud, as well as the fraudulent resale of tickets, to zero. The application is certainly novel, as it offers a comprehensive experience of the different participants in the entertainment sector.

Its creators claim that the inspiration for the development of Bombo was the need to end the problems that happen at electronic music events. These are events in which there is usually a high rate of attempted fraud. In turn, the illegal sale of tickets has a historical average of 10%. With the implementation of the Bombo application and the sale of its electronic tickets, NFT Tickets, the fraudulent resale rate was reduced to zero.

In mid-September, the application was successfully used in the city of Mar del Plata, in the Mariano Mellino show held at a nightclub where the sale of a thousand tickets was achieved. It was learned that this is the first step that the startup takes in the city in the face of the nightlife next summer.

Exceptional experiences

In addition to the sale of electronic tickets with NFT technology, another of the startup's objectives is the democratization of the electronic scene. Company sources assured that they seek to ensure that emerging artists or producers with a low budget can create exceptional experiences, since each ticket that arises from the system becomes an authentic work of art, collectible and unique.

The use of blockchain technology in this initiative stands out. It should be remembered that blockchain technology allows the creation of unique values, backed by smart contracts. This allows us to guarantee the transparency and security of operations, in this case the sale of tickets for events.
Another point in favor of the application is that it is capable of selling large volumes of tickets simultaneously. Its developers assure that it is a unique application, since it combines the characteristics of web 2.0 with web 3.0 and blockchain technology.