Ticketing startup Festy lands blockchain investment

Cork, Ireland-based ticketing startup Festy has announced a partnership and investment deal with South Korean internet company Kakao, which will focus on the development of blockchain payment and analytics applications.

Launched in 2016, Festy initially allowed the storage of payments and ID data on music festival wristbands. The company has since evolved into a blockchain ticketing and payments mechanism for retailers, festivals and conferences, using a distributed ledger to record transactions.

The company has partnered with Ground X, a subsidiary of South Korean internet conglomerate Kakao. Ground X is building a blockchain platform called Klaytn for developing services on top of existing technology.

Festy’s ticketing system allows users to check in and out of clubs and other live event venues. This function is of particular interest…

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