Live entertainment and events company Ticketmaster sees NFTs as a unique way for millions of people to immortalize, share and enhance their real-life experiences.
Ticketmaster has launched a new NFT feature that allows event organizers the ability to mint NFTs before, during, and after live events using the Flow blockchain, developed by Dapper Labs.
According to the company, event organizers will be able to enhance the experiences they offer their audiences and fans through digital collectibles in NFT format.
In particular, Ticketmaster plans to issue NFT tokens to each attendee of the upcoming season of National Football League (NFL) games.
The company has been experimenting with NFT tickets for some time, indicating that these have seen significant traction with the public. So far, Ticketmaster has issued more than 5 million tickets as non-fungible tokens using the Flow blockchain, it reported in a recent statement.
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NFTs have gained significant traction
Ticketmaster’s new NFT feature for live event organizers gives fans a unique opportunity to extend their experiences through digital memorabilia.
In fact, Ticketmaster noted that each event organizer has different reasons for issuing their own NFTs, so they can use these digital assets to unlock VIP participation opportunities for their users or to give them the possibility of accessing loyalty rewards, among other things. Additionally, for users, the NFTs will serve as a unique digital souvenir of the events they attend.
On Twitter, Dapper Labs CEO Roham Gharegozlou also mentioned that NFT tickets serve as proof of attendance at live events; that is, they will allow their holders to prove that they were present at a particular event. This is in order to unlock special advantages or utilities.
Gharegozlou also said that Ticketmaster NFTs will serve as a gateway to Web3 for the next billion people.
Non-fungible tokens also give live event organizers a whole new way to interact with audiences and fans attending their events, Ticketmaster said.
Ticketmaster to issue NFTs for over 100 NFL games
Live Nation Entertainment, the Ticketmaster company, announced that for the 2022 NFL season, which begins this month on September 8, the professional American football league plans to offer NFTs minted on the Flow blockchain to each of the people who attend the more than 100 selected games. This will include several of the home games of the 32 American football clubs that make up the professional league, the company said.
Over the past 6 months, Ticketmaster has minted over 5 million NFTs for different event organizers on the Flow network. This includes the tokens issued last February as commemorative entrance tickets for Super Bowl LVI, the 52nd championship of the National Football League.
Why did Ticketmaster choose the Flow network?
Ticketmaster is launching its NFTs on the Flow network because of the blockchain’s ability to support consumer-scale decentralized applications. With Flow, Dapper Labs has developed a next-generation blockchain designed to create more efficient, secure, scalable, and frictionless digital experiences on blockchain, it said.
Flow is in the Top 30 of the main cryptocurrencies in the market, with a capitalization of more than $2.100 billion at the time of writing this article. In addition, it is one of the most efficient blockchains at the energy level, as indicated by the global professional services company, Deloitte, in February of this year.
Flow is home to major NFT projects, such as the NBA Top Shot, which has generated sales of more than $1.000 billion since its launch.
Also, different companies like Meta are using this blockchain to mint their own NFTs. Even the NFL is using Flow to share the most iconic moments of its players on the field, as digital “moments” on the blockchain.
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