UTIX Review | CoinCodex

Key takeaways:

• UTIX is a blockchain-based ticketing platform, offering efficient online ticket sales for events without physical meet points.
• Pros include stress-free online ticket sales, protection against scalping, regulatory compliance, and low transaction costs.
• UTIX also introduces the UTIX Loyalty Token and maintains regulatory compliance as it expands its services globally, making it a compelling solution for event organizers and users.

The digital age has ushered the world into an era of technological breakthroughs which has birthed extreme convenience with efficient productivity in the economic sector.

Consequently, the advent of blockchain and cryptocurrencies has grown beyond the buying and selling of digital money, it has found its way into every form of financial engagement. As such, it may excite you to know that apart from its presence in gaming, betting, healthcare, education, and many others, blockchain technology has penetrated into the ticketing industry.

With an online ticketing platform like UTIX, event organizers are provided with access to efficient ticketing services while leveraging the potential of blockchain technology. Here’s an article to provide you with an unbiased review of the UTIX ticketing platform, and help you utilize their services to elevate your future events.

About UTIX

UTIX is a blockchain-based ticketing platform that facilitates the online sales of tickets for events. Unlike the conventional style of selling and purchasing tickets, UTIX allows event organizers to sell tickets to their audience without the need for a physical meet point.

Notably, UTIX’s mission transcends beyond facilitating the selling of tickets online, the platform aims to curtail the rising issues of scalping in ticketing while eliminating the stress and hassles that come with organizing.

In 2019, MAXWELL MAYHEW founded UTIX after concerns were raised on preventing scalpers and algorithms from buying tickets from event organizers. These concerns led to curiosity as to whether the decentralized nature of blockchain technology could be a perfect mechanism to curtail the situation.

In a bid to explore the possibilities of this idea, UTIX was launched and powered by blockchain infrastructure to serve as a platform where people can sell tickets for their events online.

While UTIX may have started as a mere item of research, the platform is already thriving in its pursuit of providing an exclusive digitized ticketing experience. In addition to providing online ticketing solutions, UTIX allows event organizers to leverage additional functionalities for their events as they deem necessary.

Before we delve further into all that concerns the platform and how it works, let’s take a brief look into the pros and cons of UTIX.

UTIX Features Review

Through the UTIX platform, organizers can easily create events without the need for any expertise. In essence, users and event organizers can leverage the exclusive features of the platform even if they are not well-versed in the blockchain space. UTIX’s blockchain infrastructure operates behind the scenes while the platform provides exclusive ticketing options for users.

While there are many manipulative actors on the internet, UTIX provides users with authenticity and assures them to hedge over unregulated market challenges. Impressively, users can directly incorporate the UTIX e-ticketing infrastructure on the website via its API functionality.

While UTIX seeks to ensure that every user is provided with easy and hassle-free access to event tickets, its application is available for both iOS and Android users.

Following its design, UTIX charges one of the lowest transaction fees on the market. The platform seeks to help users save more money while they plan for their events. Apart from its low transaction cost, UTIX allows event organizers to influence the secondary market price as it has rendered ticket scalping almost impossible.

As such, event organizers are no longer vulnerable to scalpers, hence they now have little or no cause to worry about their tickets being sold for 3/400% face value.

The platform adopts a loyalty reward system that has seen it launch the ‘UTIX Loyalty Token’. The token serves as a medium of incentivizing the potential audience of its users and event organizers. This token will be listed on BitMart soon.

While it also allows users to enjoy several discounts, the UTIX IVFAO allows the platform to maintain sustainable relationships with users and encourage their commitments to the platform. The token is built on the Ethereum ERC-20 network and allows payment only in ETH.

Let’s take a look at a quick overview of the features of UTIX:

• SaaS scalable e-ticketing mechanism.
• Global investors
• Operates as a regulated digital asset in the EU.
• iOS and Android application.
• Friendly user interface
• Customer service
• BitMart listing.
• Committed user base of 120 EOs.
• UTIX Loyalty Token

UTIX’s Regulatory Compliance 

It is important to note that UTIX has proved its authenticity with several regulatory involvements and compliances. The platform is set to become one of the few VFA (Virtual Financial Asset) in the industry after filing for approval from MFSA. Being a one-stop-hub for event organizers in Europe, UK, Australia and the US, UTIX provides efficient ticketing services while remaining on a keen mission to reach the global audience.

While Europe is known as a country that holds the registration of digital assets in high esteem, UTIX in its game of high regulatory standards has also become a regulated digital asset in the EU. This showcases UTIX’s commitment to extending its innovative e-ticketing services to a broader world.

In addition to this, UTIX is listing a Tier 1 UK investment bond with the LSE. This will provide more room for investors all over the world to participate in the UTIX project.

Following its high regulatory standards, the platform has seen collaboration from big event organizers, including leading cryptocurrency platforms. Notably, the platform is set to launch on BitMart. This can only mean broader recognition for the platform as it adds its e-ticketing solutions to the BitMart ecosystem.

Bottom Line

There is no doubt that the UTIX e-ticketing solution does not only provide event organizers with the opportunity to create events and sell tickets online, but also an exclusive ticketing service with the most blockchain potential.

Following its high regulatory standards, the platform’s authenticity appears uncompromised. Hence, event organizers do not need to worry about falling victim to manipulative operations while organizing their events.

As the platform awaits its launch on the BitMart exchange, there are chances that additional use cases will be included in its ticketing options to allow users to optimize their ticketing experience.