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FIFA’s Onchain Ticket Experiment Hits the NYSE, One Day After the World Cup Final
FIFA's blockchain ticketing experiment, utilizing Ava Labs' Avalanche technology, was showcased at the New York Stock Exchange shortly after the World Cup final. The system issued over 100,000 'Right-to-Buy' tokens, processing more than $25 million in transactions, with resale value flowing back to FIFA. This innovative approach to ticketing is currently under examination by regulators in Switzerland, New York, and New Jersey.
Live Nation settlement avoids breakup with Ticketmaster
Live Nation has reached a settlement with the Department of Justice in its antitrust case, agreeing to pay $200 million to states and implement changes to its business practices, including creating a standalone ticketing system for third-party competitors. The company will also divest up to 13 amphitheaters and avoid retaliation against venues that choose other ticket sellers over Ticketmaster, thus avoiding a breakup with Ticketmaster.