Ticket Resale Marketplace XP Raises $6.2 million

XP, the ticket resale marketplace founded by former Grubhub exec Michael Saunders, has raised $6.2 million in funding led by Blockchange, with participation from L1D, Reflexive, and others.

Why it matters:

• As per its press release, XP currently offers more than 50 million tickets to major concerts, sporting events and shows nationwide.

• XP claims the funding will accelerate its "mission to build the most fulfilling ticketing experience for fans, which starts with transparent, fair-market pricing, and a platform centered around fan identity."

• It intends to harness AI and blockchain technology to invest in identity-driven features that will enhance personalization and create smarter, more trustworthy interactions.

How it works:

• XP blends Web3 technology with transparent pricing.

• It offers price alert notifications, letting fans know when their ideal ticket price becomes available in their desired seat selection.

• Another feature is an AI-powered Chrome extension called Tixpy that compares all-in prices for the same tickets across major ticketing sites, helping fans secure the best deal.

• It has USDC payment integration that allows users to convert their stablecoin assets into real-life experiences, without credit card transactions.