A new cryptocurrency: the Cultural Coin
The company plans to introduce crypto ticketing in 2019, with all customers being offered a wallet for Cultural Coins. Fees associated with buying entry to exhibitions, galleries, gigs and landmarks would be set at 6 percent - a stark contrast to the 30 percent commission demanded by some current ticketing providers.
This 6 percent fee is going to be divided in four ways. Cultural Places would take a 3 percent share of the revenue, 1 percent would be returned to customers through a loyalty scheme, another 1 percent would go to all users in the ecosystem who hold Cultural Coins, and the remaining 1 percent earmarked as royalties for the institutions offering engaging content to the public.
Audio guides and shop memorabilia would also be on sale through the app, allowing visitors to skip queues and make the most of their time.