No NFT, no ticket? Ticketmaster has just started making use of non-fungible token (NFT) features for certain reservations. A model that could be democratized in the future.
Tickemaster offers benefits for NFT holders
Ticketmaster announced the launch of these new features yesterday. They were first offered to fans of metal band Avenged Sevenfold, via its own collection of NFTs. Fans of the band who have at least one NFT from the Deathbats club collection had access to an advance sale of tickets for two concerts in New York and Los Angeles.
A total of 1,000 tickets have already been sold this way, according to singer Matt Sanders – better known as M. Shadows. He further explained that it allowed fans to avoid certain inconveniences related to the reservation of tickets :
Yes, we have integrated @DeathbatsClub into @Ticketmaster ensuring that fans get the best tickets at the best prices without Bots, scalpers and long wait times. More info to come but there is 3 hours left. So if you have a Deathbat head here… https://t.co/lB8hlLCkkF
— Mr. Shadows (@shadows_eth) March 15, 2023
“Yes, we have integrated the Deathbats club with Ticketmaster, to allow fans to have the best tickets at the best prices avoiding bots, scalpers and long queues.»
The prices of NFTs in the collection rose sharply after the announcement of these new booking methods. They are currently reaching a floor price of $175.
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New ways to build fan communities
For bands testing NFT-related features, these are new ways to connect with their audience, and reward fan loyalty. Ticketmaster Executive Vice President David Marcus confirmed that it was of a first initiative destined to be recreated with other groups :
“This new feature allows artists to distribute privileged access and rewards to specific fans that they particularly want to serve.»
This follows another initiative proposed last August, which allowed groups to launch their own collections of NFTs on the Flow blockchain.
These initiatives however, sometimes encounter resistance from fans unaccustomed to this type of functionality. As Shadows points out, this is therefore just as much a job of educating on the benefits of blockchain, and he hopes other groups will follow Avenged Sevenfold’s lead.
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Source: Ticketmaster, press release
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