RHUNA, a new fintech platform co-developed by global festival organizer UNTOLD Universe and technology firm CryptoDATA, has officially launched to reshape the events and entertainment industry using Web 3.0 and blockchain technology. The platform aims to enhance user experiences, improve security and transparency, and foster a more engaged global community.
One of RHUNA's key features is its decentralized ticketing system, where tickets are issued as non-fungible tokens (NFTs). This ensures authenticity, ownership, and a secure, transparent secondary market, effectively eliminating fraud and scalping. The modular architecture allows large event organizers to customize management—especially ticketing and payments—with speed and precision.
Integrated Digital Wallet and Smart Contracts
The platform includes a built-in digital wallet supporting multiple cryptocurrencies, enabling seamless payments for tickets, merchandise, and services while reducing fees. Smart contracts automate key transactions from ticket sales to performer payouts, ensuring efficiency and trust. RHUNA also prioritizes user privacy through decentralized identities, giving attendees control over their personal data.
Token Rewards and DAO Governance
In an industry first, RHUNA introduces a token-based loyalty program, allowing users to earn tokens for activities and redeem them for exclusive experiences, merchandise, or discounts. The platform also pioneers the use of Decentralized Autonomous Organizations (DAOs) for event planning, giving the community a voice in decisions like themes and artist lineups.
“RHUNA is more than a technical solution; it's a dynamic system connecting social and technical elements,” said Bogdan Mărunțiş, Head of Global Strategy at CryptoDATA. “It optimizes resources like time, people, and costs for the entertainment industry.” Bogdan Rădulescu, Co-founder and CBO of UNTOLD, added: “We are redefining event organization and engagement, pushing festival finance into the 21st century.”
Debut at UNTOLD Festival
RHUNA will make its debut at the 9th Edition of UNTOLD Festival in Cluj-Napoca, Romania, enhancing the experience for over 400,000 attendees. UNTOLD Universe attracts more than 1.5 million visitors annually and ranks among the top five festivals globally. The platform's user-friendly interface caters to all technical backgrounds, marking a significant step for Web3 adoption in large-scale entertainment. For more details, visit RHUNA.io.