Miguel Afonso Caetano<p><a href="https://tldr.nettime.org/tags/Music" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Music</span></a> <a href="https://tldr.nettime.org/tags/LiveShows" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>LiveShows</span></a> <a href="https://tldr.nettime.org/tags/StubHub" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>StubHub</span></a> <a href="https://tldr.nettime.org/tags/Tickets" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Tickets</span></a> <a href="https://tldr.nettime.org/tags/TicketScalping" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TicketScalping</span></a>: "Rapper Travis Scott’s most recent album, UTOPIA, debuted at No. 1 on the Billboard 200 chart. Two of his songs have two billion plays on Spotify. He is, by any measure, one of the most popular rappers in the world. So maybe it’s not surprising that tickets for his upcoming tour sold out. Check StubHub right now, though, and you can find thousands of tickets to “sold out” shows in many cities for between $10 and $20, far below the face value for his cheapest tickets at $61.50 before fees when they first went on sale. </p><p>In ticket reseller lingo, Scott’s tour is a “bloodbath,” the result of overzealous brokers and noobs “overbuying” tickets based on a miscalculation of the likely value of his tickets on the secondary market. Many brokers now stand to lose a lot of money on Scott’s shows. At least part of this buying frenzy was fueled by a bet placed by PFS Buyers Club, a credit card maxing site I wrote about earlier this week that has recently pivoted from buying rare coins to buying concert tickets. PFS told its members to buy as many tickets to Scott’s shows as possible, according to emails viewed by 404 Media. PFS itself stands to lose more than $1 million on Travis Scott alone when all is said and done, it told members."</p><p><a href="https://www.404media.co/ticket-brokers-bet-on-travis-scott-will-lose-thousands-of-dollars/" rel="nofollow noopener" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">404media.co/ticket-brokers-bet</span><span class="invisible">-on-travis-scott-will-lose-thousands-of-dollars/</span></a></p>