Ticketmaster is aiming to enhance the event-going experience through NFTs via the power of blockchain technology.
The online ticketing platform has added an ability for event organisers to issue NFTs when buying tickets for numerous events such as music, sports, theatre, art, comedy and more before, during and after the event.
The digital collectible offering will look to create a ‘unique opportunity’ for customers to extend their live event experience, also being able to be shared online or earn the chance to win loyalty rewards whilst giving organisers a new way to engage with the consumer.
Ticketmaster states it has minted more than 5 million NFTs for event organisers on the Flow blockchain, seeing “significant traction” in its early outings.
“Event organisers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale,” said Brendan Lynch, EVP of Enterprise and Revenue at Ticketmaster.
“This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”
Developed by Dapper Labs, Flow blockchain runs a decentralised, consumer-tailored platform which has scaled experiences for products such as NFL ALL DAY, NBA Top Shot, and UFC Strike.
The ticketing platform utilised Flow to distribute more than 70,000 one-of-one virtual commemorative ticket NFTs at Super Bowl LVI for each attendee’s seat location at the NFL flagship event.
Ticketmaster’s tools aim to unlock unique integrations across the fan journey as different organisers may have different uses and goals for NFT-based products.
Mickey Maher, SVP Partnerships of Dapper Labs, commented: “Our partnership with Ticketmaster will enable millions of live event fans to immortalise, share and enhance their IRL experiences through digital collectibles.
“Ticketmaster has quickly become a leader in this space, so we’re excited to support their work in empowering event organisers to deliver even greater value to fans through the benefits of blockchain.”