Ticketmaster, the world’s largest ticket marketplace, has introduced non-fungible tokens (NFTs) for ticket purchases, marking a significant step towards Web3 technology. The move enables Ticketmaster to offer fans a new way to purchase tickets while ensuring the authenticity of each ticket sold. By introducing NFTs, Ticketmaster can also provide a new revenue stream for artists, teams, and venues. The company’s first attempt at using NFTs was with iconic American heavy metal band Avenged Sevenfold through its own NFT, ‘Death Bats Club,’ to purchase tokenized gate tickets. Working with Avenged Sevenfold has proven the concept of token gating mainstream events over crypto-based conventions. The introduction of NFTs is the latest step by Ticketmaster to stay at the forefront of innovation in the ticketing industry, with mobile ticketing and contactless entry being some of the new features they’ve already introduced to enhance the fan experience. By becoming the first band to offer NFT ticketing through Ticketmaster, Avenged Sevenfold has helped shine a light on emerging blockchain technology.
Ticketmaster Introduces NFTs for Ticket Purchases with Avenged Sevenfold
Ticketmaster, the world’s largest ticket marketplace, has made a significant step towards Web3 technology with the introduction of non-fungible tokens (NFTs) for ticket purchases. With this move, Ticketmaster offers fans a new way to purchase tickets while ensuring the authenticity of each ticket sold. The company’s first attempt at using NFTs was with iconic American heavy metal band Avenged Sevenfold, through its own NFT called the “Death Bats Club,” to purchase tokenized gate tickets.
NFTs are unique digital assets that can be bought, sold and traded on a blockchain network, providing an immutable record of ownership. They can provide a new revenue stream for artists, teams and venues, and can provide a whole new level of security. The introduction of NFTs is the latest step by Ticketmaster to stay at the forefront of innovation in the ticketing industry. The company has already introduced several new features including mobile ticketing and contactless entry to enhance the fan experience.
“This is an important step towards mainstream adoption of Web3 technology,” said Jonathan Pullinger, Managing Partner at W3S Group. “By tokenizing tickets, Ticketmaster can ensure their authenticity, provide exclusive access, and provide more value to our customers.”
By working with Avenged Sevenfold, the first band to offer NFT ticketing through Ticketmaster, the company has proven the concept of token gating mainstream events over crypto-based conventions. The band was able to partner with Ticketmaster because they already had their own NFTs, and by working with the entertainment giant, they have helped shine a light on emerging blockchain technology.
It remains to be seen what Ticketmaster will do next, but they could potentially introduce NXT ticketing for additional events in the coming months or expand the fan experience by offering new revenue streams for artists, teams and venues. This development is a significant step towards the mainstream adoption of blockchain technology in the ticketing industry.
It is worth noting that this press release was not created in association with Markets Insider or Business Insider and was distributed by MarketersMedia Newswire. If you notice any inconsistencies, inaccuracies or problems with the content, please contact MarketersMedia Newswire immediately.
Don’t miss interesting posts on Famousbio
