CJ OliveNetworks to introduce NFT ticketing at BIFF

By Song Su-hyun
  • Published : Sept 27, 2021 - 15:52
  • Updated : Sept 27, 2021 - 16:15

(CJ OliveNetworks)
CJ OliveNetworks will introduce the country’s first “non-fungible token” tickets at the Busan International Film Festival next month, the company said Monday.

A type of blockchain technology, NFTs are unique and not interchangeable. NFT-based tickets, therefore, allow ticket issuers to track holders of each ticket and prevent scalping or fraud.

The company has named the ticketing service “One Order Ticket.”

CJ has partner with domestic blockchain platform firm Blocko for the technology.

The CJ affiliate has been trying out the system with CGV.

“We have mulled measures to prevent unfair ticket transactions at BIFF over the 10 years,” said Kim Hee-sung, an official at CJ OliveNetworks. “The company hopes the NFT system satisfies both users and consumers.”