With that in mind , Pike has partnered with EPOS ( electronic point of sale ) company Bleep on the creation of a blockchain-supported cashless payments app that has been tested at events this year , including Wilderness , Latitude , Download Pilot and the Grand Prix at Silverstone .
Pike says the app has been developed with the aim of not only enabling the swift purchasing of food , beverages and merch , but to provide a platform for promotions and discounts via sponsors .
With the app not due to launch until next month , Pike is tight-lipped about the branding , but he says a “ large international promoter is set to adopt the system ”.
“ It is a cashless app tied to a digital wallet that uses blockchain technology ,” he says . “ It will not only enable event owners to gain a better understanding of who is at their events , but will benefit eventgoers and sponsors by enabling promotions and loyalty rewards . It has been developed in partnership with Imagination and Dave Birch of Consult Hyperion .”
Pike believes one of the app ’ s biggest advantages is the fact it gives promoters and event owners the ability to gain a clear picture of exactly who is attending their shows .
He says , “ At festivals , none of the organisers know who ’ s walking through their doors , which in this day and age is incredible . The success of companies such as Tesco is based on the fact that they have developed ways of knowing who their customers are , what they ’ re interested in and what they buy .”
Pike says the app will enable promoters and event sponsors to have a much closer relationship ,
to the benefit of both parties and their customers : “ You have got sponsors spending a lot of money on activations . With an app like ours , it enables them to use the data to create a relationship directly with the attendees who have opted in , and extend the activation programme beyond the event .
“ Potentially it could also help the promoter get additional revenue out of it because instead of the sponsor having to employ an agency , it could employ the promoter to handle it . There ’ s always been a disconnect
“ At festivals , none of the organisers know who ’ s walking through their doors , which in this day and age is incredible .”
Paul Pike between selling sponsorship and activating it , but if the promoter has the opportunity to say ‘ this is what it is going to cost you to be the brand partner , and we will drive it for you ’, it becomes a two-way street . I ’ ve always thought that ’ s the ultimate goal .”
NFTs Mentions of NFTs , or non-fungible tokens , have become hard to miss in the media , and barely a day goes by without their use in the music industry hitting headlines . Essentially , an NFT is a physical asset that has
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