Event ticketing leader Ticketmaster has partnered with Dappers Labs to develop NFTs on the Flow (FLOW) blockchain. In total, more than 5 million NFTs have already been issued in this way.
Ticketmaster launches into non-fungible tokens (NFT)
Ticket masterthe world leader in the sale of show tickets, decides to accelerate its use of non-fungible tokens (NFT).
A new feature of the platform is now available to event organizers. Indeed, these will have the ability to issue NFTs before, during and after concerts and other shows.
A concrete use case was, for example, tested last season in American football with the National Football League (NFL). When spectators scanned their entry ticket during a game, they were eligible for a commemorative digital souvenir in the form of a non-fungible token.
Thus, 500,000 NFTs were distributed during the last season and the experience must be repeated this year on a selection of 100 games.
More generally, this novelty could also have an advantage in the fight against fraud, when an NFT replaces a conventional ticket. This is also a point that was underlined last June after the incidents at the Stade de France.
On the other hand, it would seem that this is not the primary function of this partnership. Live Nation, the parent company of Ticketmaster, focuses instead on the “memorabilia” dimension at first.
The choice of the Flow blockchain (FLOW)
To meet the technical needs of its new project, Ticketmaster turned to the Flow (FLOW) blockchain. Specially designed for optimize the use of NFTsthe latter is the creation of Dapper Labs.
Mickey Maher, Vice President of Partnerships at Dapper Labs, expressed his excitement about the collaboration:
“Our partnership with Ticketmaster will allow millions of fans […] enhance their real-life experiences through digital collectibles. Ticketmaster has quickly become a leader in this space, so we’re thrilled to support their work to empower event organizers to deliver even more value to fans through the benefits of blockchain. »
In total, there are already more than 5 million non-fungible tokenswhich were issued on the Flow blockchain by Ticketmaster.
For his part, Brendan Lynch, from Ticketmaster, was convinced of the added value brought by NFT technology:
“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant […] in large scale. That’s why we’re partnering with Flow, as their blockchain is tailor-made for fan engagement and frictionless consumer experiences. »
So, although the work is still long before a real replacement of paper tickets by NFTs, we can note that the giants of the sector are moving in a promising direction.
👉 Also in the news – World Cup 2022: FIFA is about to launch its NFT platform
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