Big Neon was billed as music’s first blockchain ticketing company when it launched at the end of 2018 and announced plans top become a token-based system by 2020 and the eventual “spiritual successor” to Ticketfly. But 27 months after launching, the mobile-based ticketing system has run out of money and is now shutting its doors, co-founders Dan Teree and Ryan O’Connor confirm to Billboard.
Earlier this week, Teree and O’Connor sent to a note to venue clients like the Midway and Bimbo’s 365 in San Francisco, the Gas Monkey in Dallas and The Exit/In in Nashville announcing Big Neon’s plans to close effective March 30.
“It is with great regret that Big Neon has decided to cease operations,” the letter read. “This was an extremely difficult decision for the Big Neon team. Our goal was to build a new type of ticketing company based on a mobile-centric approach. Unfortunately, growing an early stage company in the current COVID environment was untenable.”