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Ticketmaster Just Took a Substantial Step Toward NFT Tickets

Ticketmaster Just Took a Substantial Step Toward NFT Tickets

  • A groundbreaking new initiative has been announced by Flow and Ticketmaster. Ticketmaster event organizers can now link NFTs to each attendee's ticket using the Flow blockchain.
  • NFTs provide richer experiences for event attendees who own tickets. By linking NFTs, Ticketmaster hopes to offer eventgoers Web3 analogs to the real-life events where they receive NFTs.
  • By linking NFTs, recipients will be able to enjoy VIP experiences. Otherwise, the NFTs can be used as event memorabilia. NFT ticket tie-ins are implemented by event organizers.

Why it matters:

Ticketmaster-hosted events can integrate NFT-powered Web3 experiences in many ways, but evidence suggests this development will have the greatest impact on the sports industry - an industry poised to make significant progress in embracing Web3. What does this evidence prove? Let's take a broad look at the players.

Before hosting these upcoming Ticketmaster event NFTs, the Flow blockchain was best known for hosting NBA Top Shot. Although its popularity has declined over the past few months, it remains the most popular NFT project on the Flow blockchain. What about the next two? Sports-related projects also dominated Flow's leaderboards, with NFL ALL DAY and UFC Strike taking the second and third spots.

Prior to this new partnership with the Flow blockchain, Ticketmaster has also dabbled in NFTs. Ticketmaster launched an initiative in November 2021 for attendees of NFL games during the 2021-2022 season to mint their ticket stubs as NFTs.

What’s next:

Although the new partnership between Ticketmaster and Flow does not include actual NFT tickets, it is important to note. NFT tickets have already been used to enable unique in-event utilities across the Web3 space. Traditionally Web2 events like music festivals have used NFTs as authentic entrance passes.

Then what is it? This collaboration between Ticketmaster and Flow appears to be an attempt to mainstream attendance NFTs. It should be distinguished from proof of attendance protocol (POAP) NFTs. However, the attendance NFTs will help track some of the highest-volume IRL events. A16z-backed Dapper Labs developed Flow, so Ticketmaster is in good hands.

Hare Are Some More News About NFT:

Cryptocurrency and NFTs: What’s the Difference?How to Determine What NFTs to Buy: A Must-Read Guide

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