Ticketmaster Takes a Enormous Step Towards NFT Tickets

By linking with the Movement Blockchain, Ticketmaster has taken an enormous leap towards NFT tickets, permitting occasion organizers to supply attendees richer experiences.

Through the pandemic, ticket gross sales for reside occasions have understandably plummeted. However issues are slowly going again to regular. This yr, concert bookings are up 44% in comparison with the pre-pandemic numbers.

The demand for reside music remains to be there, which is nice information for the beleaguered live performance trade. And Ticketmaster is main the cost in bringing followers again to reside occasions.

Ticketmaster Embracing Web3

Flow is a Blockchain platform initially designed strictly for gaming. Nevertheless, they’ve expanded their enterprise mannequin considerably within the three years since its launch. If the title appears acquainted, it’s as a result of they’ve one giant venture that’s gotten plenty of consideration prior to now yr: NBA Top Shot.

For these unfamiliar, NBA High Shot is a recreation the place you should buy, commerce, and promote digital collectibles of NBA moments. These “moments” are basically quick movies of a tremendous play or dunk saved on the blockchain.

The Movement platform not too long ago linked up with Ticketmaster to permit occasion organizers to connect NFTs to particular person tickets. In flip, that allows ticket-holders to get unique VIP experiences or entry to Web3 variations of the occasion.

This can be a big transfer by Ticketmaster, and it might have a big effect on the live performance trade as an entire.

Why the Transfer Issues So A lot

Ticketmaster is the world’s largest ticketing firm, so embracing blockchain know-how is an enormous deal. And this transfer isn’t only a cynical advertising and marketing ploy, both.

This transfer might have a big effect on the live performance trade for just a few causes. First, ticket-holders will get extra worth out of their buy. With an NFT attached to your ticket, you will get unique entry to VIP experiences or behind-the-scenes content material.

Second, the transfer might assist Ticketmaster fight ticket scalpers. Tying tickets to an NFT makes it a lot more durable for scalpers to resell them.

Lastly, this transfer might additionally assist Ticketmaster appeal to a brand new era of concert-goers. The younger individuals who grew up with crypto usually tend to be all in favour of an occasion if they’ll get an NFT as a memento.

Does This Matter in a International Disaster

The pandemic may be over, however we’re nonetheless removed from out of the woods. The worldwide economic system remains to be in a recession, and many individuals are nonetheless struggling to make ends meet. So why does this matter?

Merely put, there’s sufficient curiosity in concert events and reside occasions that Ticketmaster is keen to experiment with new applied sciences to enhance buyer expertise.

This yr, around 26% of Americans plan on visiting concert events even when it places them in debt. So, it’s clear that individuals are nonetheless obsessed with reside music, even when they’ll’t all the time afford it.

Ticketmaster is hoping that by providing higher experiences, they’ll deliver much more individuals again to reside occasions.

And step one in doing that’s by embracing NFTs.

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