Ticketmaster, a known leader in event ticketing, is once again experimenting with NFTs that give certain token holders exclusive access and discounts to events.
Ticketmaster has integrated cryptocurrency wallets for the next Avenged Sevenfold tour to allow these perks to selective users.
Fan Club Members Get Perks
Ticketmaster has rolled out exclusive perks for the ‘Deathbats Club’ holders for the Avenged Sevenfold tour.
According to OpenSea, the fan club has a collection of 10,000 NFTs on the Ethereum blockchain. According to reports, the holders will have priority access to tickets and allocated seating without queues.
Rob Abelow, the founder of Where Music’s Going, called it the best version of “Verified Fan.” According to the executive, 1,000 Deathbats holders purchased early access to NYC and LA shows scheduled for June. He also applauded the ticket conversion rate of 10%.
However, the premier booking provider divided Twitter users on the NFT-gated sale. Abelow went on to say, “This is one of the most important use cases for NFTs, showing how your interactions in one area with an artist can open up doors in others.” In addition, he tagged interoperability as a “superpower.”
NFT-Gated Ticketing Amid Ticketmaster Monopoly Claims
Ticketmaster has been rebuffed with anti-competitiveness claims numerous times. Recently, the platform apologized to Taylor Swift and her fans before a U.S. Senate hearing. Several ‘Swifties’ could not purchase tickets for the concert after its system was overloaded by demand for her Eras Tour.
TRAX, a social marketplace for music, stated that supporting Ticketmaster does not do right by independent artists. The platform responded to Abelow, noting, “Artists deserve a platform that prioritises creator-owned monetisation, not a monopolistic incumbent playing catch-up.”
Last year, the American ticketing company extended its NFT offering in partnership with the Flow web3 network. Ticketmaster and Dapper Labs, operators of the Flow blockchain, ran several NFT trials before the launch.
According to Billboard, Ticketmaster has given out more than 5 million NFTs to people who attended live sporting events and shows. These NFTs were mainly restricted to post-event commemorative tokens.
As BeInCrypto pointed out previously, NFTs can potentially change the ticketing landscape by giving fans more ownership and control over their tickets. By ensuring the validity of tickets, this method of ticketing could also lower the incidence of fraud and counterfeiting.
At the same time, the NFT sector continues to struggle with major long-term obstacles related to security, user experience, and waning brand interest.
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