Lamoneda ICO Will Eliminate High Fees and Revolutionize the Event Ticketing Industry

In 2010, when the United States Justice Department approved the merger of the two most dominant companies in the event ticketing industry, Live Nation and Ticketmaster, the decision was met with suspicion. Consumers were concerned that the combined forces of LiveNation and Ticketmaster—which already enjoyed an 80% market share before the merger—would result in a monopoly.

Please Note: This is a Press Release

In 2018, it’s clear they were right. Today, Ticketmaster controls ticket sales in 80 of the top 100 arenas in the country and Live Nation is the nation’s largest music promoter, managing most of the nation’s top acts and venues. StubHub and other exchange companies control the remaining market—leaving consumers with few choices.

Consumers are more frustrated than ever with ticket purchasing processes and understandably so. Ticket companies aren’t transparent, purchases aren’t guaranteed, ticket prices are higher than ever, and service fees are exorbitant. With so many problems running rampant, it’s clear the multi-billion dollar event ticketing industry is in dire need of disruption.

Enter Lamoneda. Using blockchain as the foundation, Lamoneda will provide a decentralized event hosting and ticket distribution network. Lamoneda’s distribution network will make it possible for companies and individuals to buy and sell “SmartTickets” through unforgeable cryptographic signatures stored on the ethereum blockchain.

These SmartTickets will drastically lessen ticketing fraud and scalper activity, which are rapidly degrading the industry. Shady practices on the part of resellers and scalpers—including the particularly damaging trend of employing legions of bots to snatch up tickets—has resulted in millions of disappointed consumers who are willing and able to purchase tickets, but unable to find anywhere to buy them from. With Lamoneda, the process of buying a ticket is secure, straightforward, and fair.

Individuals and others will be able to purchase these SmartTickets directly on the Lamoneda network through a variety of payment gateways including via Lamoneda’s own LMDA token. Users will then be able to exchange LMDA tokens for any other currency of their choice, including ethereum, other cryptocurrencies, and fiat currencies. Tickets are electronic (event goers can attend events using only their mobile phones) and can be transferred instantly from one user to another.

And here’s where things get interesting; Lamoneda has built-in a guarantee on their commitment to lower fees and prices. Each Lamoneda SmartTicket is programmed with a fixed markup percentage to avoid high markups on the secondary market—and markups these days are huge.

For context, large ticketing companies like TicketMaster charge fees that amount to, on average, 27% of the original ticket price. Resellers such as StubHub charge an average markup of upwards of 31%. In some cases, event goers may pay fees that are nearly the cost of the ticket itself. It’s come to the point that many event goers have been pushed out of the market entirely—the level of markups and fees charged by ticket conglomerates is simply out of their budgets.

Lamoneda is determined to eliminate these high markups and provide a transparent ticket purchasing and selling platform that holds no surprises for consumers when it comes to pricing and exchange of services.

Join in on the action as Lamoneda transforms the event ticketing market with the future of electronic ticketing. Don’t miss out on Lamoneda’s presale opportunity—for a VERY limited time, Lamoneda is offering LMDA tokens at a 20% discount. You can purchase tokens at lamoneda.co and be one of the first to join the event ticketing revolution.

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