e-ticketing startup UTIX has inked a listing partnership with BitMart.
The duo is bolstering the e-ticketing landscape through blockchain technology and compliance.

UTIX, a blockchain-based e-ticketing platform, is currently making waves as it revealed that its native cryptocurrency reward token, $UTIX, will soon be available for trading on the BitMart exchange, starting October 31. 

BitMart Partnership With UTIX

The recent listing of the $UTX token on the BitMart exchange is a significant milestone in UTIX’s journey. This move enhances the utility of the $UTX token, enabling users to earn loyalty rewards and trade them for value or use them for discounted tickets. 

BitMart is a well-known global crypto exchange with over 2 million users worldwide, ranking high in user count and trading volume. The addition of $UTX/$USDT and $UTX/$BTC trading pairs on BitMart starting from October 31 will undoubtedly increase the exposure of UTIX and the $UTX token, bringing more liquidity to the market and further value to the UTIX community.

Max Mayhew, Managing Director of UTIX, expressed his excitement about the listing on BitMart, highlighting the project’s potential to dominate the broken e-ticketing market and its novel utility. BitMart, as the first major global crypto exchange to list the $UTX loyalty rewards token, recognizes UTIX’s transformative mission and its promising use case for blockchain technology.

“With $UTIX now available to trade on our platform, it’s a project that’s rapidly approaching maturity,” a BitMart representative said in a statement.

The UTIX E-Ticketing Platform

UTIX was established as a solution to several issues plaguing the traditional event ticketing industry, such as high service fees, fraud, and scalping. The integration of blockchain ensures tamper-proof ticketing and virtually eliminates the resale of counterfeit tickets.

The UTIX platform is a software-as-a-service (SaaS) solution that offers comprehensive and highly customizable e-ticketing services to event organizers worldwide. What sets UTIX apart is its utilization of the Ethereum blockchain, which empowers it to employ smart contracts for monitoring and controlling the sale of tickets through its e-ticketing ecosystem. This approach enhances transparency, security, and efficiency throughout the ticketing process.

One of UTIX’s distinguishing features is its revenue model. Rather than charging event organizers for platform use, UTIX sustains itself by collecting small fees on each ticket sold. This ensures that event organizers can access the platform without incurring costs, making it a financially attractive choice for event management.

The $UTX ERC-20 loyalty token is central to UTIX’s strategy to promote user loyalty and incentivize repeat usage of their platform. Users earn $UTX tokens each time they purchase e-tickets through UTIX. These tokens can be redeemed for discounts on future events listed on the platform. This dynamic rewards system creates a compelling incentive for users to choose UTIX for their ticket purchases, benefiting event organizers who gain a loyal customer base.

Moreover, it is worth noting that UTIX’s commitment to regulatory compliance has set it apart. The platform has registered its Whitepaper with the Malta Financial Services Authority (MFSA), placing it among a select few digital assets to achieve such a high level of regulation.

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Filed under: Bitcoin - @ October 24, 2023 2:12 pm