Business Insider – The Most Promising Retail Startups of 2022

Recommended startup 1: Tixologi

Relationship: Investor

Total startup funding: $2.25 million

What it does: Tixologi makes blockchain-based ticketing software designed to eliminate the “pain points” of the ticketing experience, Asher Weiss, the CEO and cofounder of Tixologi, told Insider.

Why it’s on the list: The ticketing industry is due for a refresh. Tixologi and its investors, including KB Partners, think blockchain is the answer. Blockchain is essentially a permanent digital ledger. When used for ticketing, it can prevent counterfeiting by letting fans easily trace back to see if a ticket is authentic.

It can also help event companies gather data on fans because in order to accept a ticket, a fan must have a Tixologi account. The account’s data can be used to make marketing efforts more targeted and effective.

Tixologi’s platform also can convert tickets into non-fungible tokens or digital collectibles.

“In the future, all tickets will be blockchain-based and all will likely be NFTs,” Weiss told Insider. “We feel confident we can be the industry leader.”

The company is nearing its official launch after raising $2.25 million in venture capital. While sports is a natural first market for Tixologi, Steve Ahern, a partner at KB Partners, said there’s significant room to expand.

“One of the things that’s exciting about the ticketing space is there’s an application beyond purely sports,” he said. “There’s a really solid market there. Some of the biggest success stories in sports have been ticketing companies.”

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