Freedom has launched Fan2Fan, a new service that marks its entry into the secondary ticket market. According to Yerlan Yessimseitov, executive director of Freedom Lifestyle Group, the platform is designed to facilitate secure ticket resales between users. More broadly, the initiative aims to bring transparency to the largely unregulated resale market and reduce the risk of fraud.
Speaking at the Freedom Impressions Talk on June 3, Yessimseitov introduced the new service, which is integrated into the company’s SuperApp. The process is straightforward: sellers list tickets they have already purchased on the platform and buyers pay the listed price and immediately receive an electronic ticket. However, the seller does not receive the funds until after the event. The payment is held by the app and released only afterward.
This mechanism is designed to protect buyers from counterfeit tickets and virtually eliminate ticket-related fraud.
A marketplace without price caps
One of the platform’s key features is the absence of limits on resale prices. Sellers are free to set their own prices. For example, they may choose to sell a ticket for several times its original value if demand is high and the event has sold out. Conversely, tickets can also be sold below face value if a seller’s plans change unexpectedly.
According to Yessimseitov, the company chose not to impose price caps because current legislation does not prohibit markups on ticket resales.
«This is a marketplace for our buyers and sellers. If we impose restrictions, users may turn to classified ads platforms instead. They may be able to sell tickets at higher prices there, but they could also encounter scammers. That’s why we’re not imposing any restrictions for now. We’ll test the model and see how it develops,» Yessimseitov told Kursiv.media.
Early results
The ticket-listing feature is already available to SuperApp users for all active events in the system. The company previously tested the service at several events, including an FC Kairat match and a concert by the band KeshYOU.
According to Yessimseitov, approximately 100 tickets for the KeshYOU concert were resold through the platform. Notably, the highest markup recorded did not exceed twice the tickets’ face value.
Freedom Lifestyle Group is a subsidiary of Freedom Holding Corp. that oversees the company’s non-financial and consumer services businesses. The group includes projects in e-commerce, travel, entertainment, telecommunications and online services. Its primary goal is to develop a digital ecosystem that complements the holding company’s financial products while increasing customer engagement through an integrated platform of services and mobile applications.
