Yoonew is an electronic exchange that allows buyers and sellers to trade tickets and ticket derivatives like stocks.
For now Yoonew is focusing on football tickets, and the Super Bowl is their big event. People pay $2,000 or more for Super Bowl tickets. If you want a good seat, and buy from a reputable broker, you are quite simply going to be paying a staggering amount of money. If you wait to the last minute you might get a deal, particularly if the teams aren’t a draw. But you also run the risk of paying a lot more, or not getting in at all.
Behind the scenes are the market makers - the very select few individuals who actually have their hands on the tickets. These include players and NFL officials, official partners to the NFL, and the people who purchase tickets from them. How much they pay for those tickets is based on their analysis of the game economics, and they are putting serious capital at risk every year. They then turn around and sell those tickets to the public. If they’re good they make a lot of money. If not, they can lose their business over a single game.
Online tickets is big business and Ebay has done very well through its acquisition of Stubhub.
If Yoonew can gain traction this could turn out to be a success, the real question is whether there are enough people who want to trade tickets via a stock exchange format.
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THE FROSTFIRE BUZZ TEST
1. Is this a unique product? 7/10
2. Is this business/product difficult to replicate? 7/10
3. Is this something that can appeal to a large global audience? 6/10
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