Bitcoin is on the rise in Argentina as of late. Not only are more and more people showing an interest in the “open ledger” aspect of blockchain technology, but there is also a coffee bar in Buenos Aires accepting Bitcoin payments. And that is not all, as you can also buy concert tickets with Bitcoin in Argentina, thanks to EntradaFan!
EntradaFan – Peer-to-peer Online Ticket Marketplace
When it comes to purchasing event tickets online, you usually rely on a central point of failure. Eventbrite, Ticketmaster or Teleticketservice are just a few of the platforms allowing you to purchase any event ticket online. In Argentina, the major ticket platform is called Ticketek, and EntradaFan was created to become a major competitor for them.
In April of this year, the EntradaFan service was launched in Argentina,, which would serve as a peer-to-peer ticket marketplace. A brave move, considering Argentina is a rather closed-down ecosystem in all aspects of daily life. Not only is the local population forced to use a high-inflationary currency, but government officials also frown upon new and disruptive technology such as Bitcoin.
Keeping that in mind, it might come as a surprise to some of our readers that Entrade Fan recently decided to accept Bitcoin payments. Then again, by building a peer-to-peer marketplace, it only makes sense to use true peer-to-peer payment methods as well, giving Bitcoin a leg up over any other traditional payment method.
EntradaFan has partnered with Argentinian Bitcoin firm BitPagos, who will act as a digital currency payment processor. BitPagos has been in existence since 2013 – when it emerged out of the Boost VC accelerator program – and managed to raise over US$150,000 during its very first year of operations.
But that is not the only reason for the partnership, as BitPagos is also processing quite a high transaction volume on a monthly basis. Despite Argentine officials not being too keen on Bitcoin payments in their country, BitPagos was already processing over US$150,000 worth of BTC transactions on a monthly basis. That number will have only increased by now, making this a very powerful partner for EntradaFan.
First Ticket Purchased With Bitcoin
And it didn’t take long until the very first ticket was bought with Bitcoin through the EntradaFan website. On September 25th, there will be a Queen concert at the GEBA Stadium in Buenos Aires. Former American Idol star Adam Lambert will be singing the vocals for Freddie Mercury, the Queen frontman who passed away in 1991. Adam Lambert has been taking up this role since 2011.
It will be interesting to see what kind of impact Bitcoin can have on the Argentinian event ticket market in the future.
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