Some info that maybe the cause for12 Jun 2019 10:16
Excitement “TechFinancials started out as a provider of software to online spreadbetting/CFD sites but its focus has switched to blockchain projects. The most interesting is a blockchain-based sports ticketing business.
Investors have been waiting for the announcement of the first football club to sign up and there should be a positive reaction by the share price.
The idea is to use blockchain technology to enable the sports club to take control of the initial sale of a ticket and any secondary ticket transactions. Because the ticketing is fully digital it will prevent ticket touts and highly inflated resale prices.
Tickets can be resold via the platform and the club will take a share of any profit over the ticket price. The club can also track attendance and make specific merchandise offers to fans.
TechFinancials is developing the ticketing venture with Footies Tech Ltd. The new joint venture company will licence the blockchain technology from TechFinancials, which will hold a 75% stake in the venture. TechFinancials is injecting up to $500,000 into the company, once a client is signed up.
Longer-term, more cash will be required so that stake may be diluted. However, it is also likely to lead to an uplift in the value of the stake.
Former Liverpool FC chief executive Ian Ayre is chairman of the new company. This makes it most likely that a football club will be the first to sign up for the venture. The system will work for other sports.
TechFinancials has been a disappointment but signing up a club to its ticketing system will go some way to recovering past share price losses.”
In the UK investor mag...
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