CM.com, a company specializing in conversational commerce, has announced the acquisition of GUTS Tickets, an Amsterdam-based business focused on blockchain ticketing. This acquisition is expected to integrate GUTS Tickets’ fraud-resistant ticketing system into CM.com’s offerings. The move highlights a growing interest in blockchain technology in ticket sales, aiming to provide more security and transparency for both event organizers and attendees. With a recent funding round, CM.com is expanding its portfolio to address issues in the ticketing industry.
CM.com has previously expanded its services through acquisitions and product innovations. The company has been increasingly integrating new technologies to enhance digital communication and transactional services. Blockchain ticketing, which has been explored by other companies in the past, has seen slow adoption due to the complexity of implementation. However, growing concerns around ticket fraud and resale price inflation have made such solutions more relevant. The acquisition of GUTS Tickets aligns with CM.com’s strategy of providing secure and seamless digital experiences for consumers.
How does GUTS Tickets prevent fraud?
GUTS Tickets employs blockchain technology to register ticket ownership, ensuring that each ticket is unique and cannot be duplicated or resold at inflated prices. Unlike traditional ticketing systems where PDF tickets can be copied or resold multiple times, GUTS Tickets generates dynamic QR codes that change with each transaction. If a ticket is resold, its previous code becomes invalid, preventing unauthorized transactions.
Maarten Bloemers, the founder of GUTS Tickets, emphasized the company’s commitment to fairness in ticket sales, stating,
“Since establishing GUTS Tickets in 2016, we have had one clear goal: making the ticket sales process fairer and more user-friendly for fans and event organisers. Thanks to the acquisition by CM.com, our blockchain technology becomes accessible to a large portion of the market, taking an important step in realizing our mission.”
What does CM.com aim to achieve with this acquisition?
CM.com plans to integrate GUTS Tickets’ blockchain-based system into its existing ticketing services to enhance security and transparency. By leveraging blockchain, CM.com seeks to address two major concerns in the industry—fraudulent ticket sales and excessive resale pricing. This move follows the company’s €20 million capital raise, which signals an effort to expand its capabilities.
Jeroen van Glabbeek, CEO of CM.com, highlighted the importance of this technology, stating,
“This blockchain technology provides a solution to the biggest challenges in the ticketing market: fraud and price gouging in the secondary market. Unique and dynamic QR codes ensure that tickets are fully traceable and fraud-resistant. This gives fans a safe and fair way to participate in events, while organisers can count on transparent ticket sales.”
CM.com has built a reputation for enabling digital engagement between businesses and consumers. Established in 1999, it provides services such as mobile messaging, voice applications, payment solutions, and customer data management. The company operates globally, offering a range of digital engagement products across various industries.
Blockchain ticketing has been proposed before as a solution to ticket fraud, but widespread adoption has been limited. While GUTS Tickets has worked on this issue for several years, other companies have also attempted similar approaches with varying levels of success. The challenge remains in convincing industry players to shift away from traditional ticketing models. With CM.com’s involvement, the adoption of blockchain-based ticketing could accelerate, but its success will depend on how well the technology is integrated and accepted by event organizers.
