Secondary ticketing platform Ticketswap has launched a new feature that aims to make the second-hand ticket market more future-proof by dividing profit on tickets equally between the seller and event promoter.

The new feature, FairShaire, will allow for fewer fraudulent or overpriced tickets to be in circulation. Tickets may only be resold for a maximum of 20% more than face value through TicketSwap.

The feature will only allow barcodes on the tickets to be released a few hours before the start of an event. Until then, the buyer can also choose to resell the admission ticket within this system.

Amsterdam-based Ticketswap, founded in 2012, formally launched in the UK last year, after building a 1.5 million user base in the country. It also has offices in Brazil, Sweden, Germany, France, Spain, Italy and Poland.

TicketSwap CEO Hans Ober said, “The events industry, as well as fans, are facing challenges. For example, the profit margins of organizers are increasingly under pressure and extortionate prices are a great frustration for fans. With the introduction of FairShare, we are making the ticket market a lot fairer again. This is how we invest together in the events industry.”