There’s a chance you’re already a part of the revolution. We are on the cusp of the global take-over of one of the most exciting new use cases for mainstream blockchain purposes: NFT ticketing.
Everyone from ticketing industry giants to Sharktank billionaires has been expressing their interest in the potential that NFT technology brings to the ticketing experience, both for fans and those selling the tickets.
Potential? Spell it out for me
There are several elements for NFTs that provide immediate advantages. An obvious one from the fan point of view is the possibility of obtaining a custom, scarce digital collectible from an event they attended.
The artist or event organizer can make custom visual art around a specific event or tour, and even send out extra rewards for fans who hold specific or multiple NFTs. Thanks to the use of blockchain, event organizers know 100% for sure that they are reaching their ticket holders – a never-before-seen opportunity for fan engagement and loyalty rewards.
Alright, but when will this happen?
The best part about this all is that it’s already happening. Users may in fact have already purchased an NFT ticket without even knowing so. There are close to a million of them already sold for hundreds of mainstream events where non-cryptocurrency-minded people attended a music show, museum, or theater performance.
Who’s issuing NFT tickets?
Of course, this is all transparent and public data. Users can even track the majority of all NFT tickets as they are issued, sold, and validated by ticketing companies across the globe in the NFT Ticket Explorer, made by GET Protocol:
On the explorer, users can see the price paid per ticket, along with the lifecycle of each individual ticket as it changes hands and eventually is validated and potentially claimed by the ticket holder as a collectible.
Just two weeks ago Dutch ticketing company Yourticketprovider, averaging over 2 million tickets per year, announced the integration of GET Protocol’s Digital Twin product, allowing them to issue NFT tickets to their end-users.
But that’s not (nearly) all there is to this utility.
With the rate of innovation currently taking place, there is a lot more to be excited about. Going beyond the collectible features, the upcoming iterations of NFT use cases will provide structural benefits to event organizers in a variety of ways. From pre-financing future events to earning programmed perpetual revenue over ticket re-sale, it’s all in the works.
Chances are that before long every ticket issued worldwide will be an NFT – undoubtedly a change for the better.