The Chainsmokers – the famous two-man EDM-pop band from the US – has reportedly decided to lend their support to a new ticketing platform, powered by blockchain tech. 

Specifically, the famous DJs that won a Grammy Awards in 2017 – together with their manager Adam Alpert – have reportedly put their money in YellowHeart – a decentralized ticketing tool, particularly built to provide transparency to the ticket selling process for artists in the music industry. 

Established by music expert Josh Katz, the YellowHeart platform comes with a public blockchain, which gives full control to artists and venues over their ticket selling process and recorded sales in secondary markets.

Particularly, the platform aims to completely eliminate the involvement of scalpers – the “middlemen” in the music industry, normally purchases a significant sum of tickets and sells them at an increased price. Alpert claimed that scalpers has been an ongoing matter in the music industry for a long time.

Set to be released in 2020, YellowHeart will give music makers the ability to decide their own highest resale prices, confirm their tickets have arrived in the hands of real buyers, not scalpers, along with profiting from sales via YellowHeart’s secondary marketplace.