Ticketmaster has announced that it will use the Flow blockchain from Dapper Labs to mint non-fungible tokens (NFTs) for select events. Using the Flow blockchain, Ticketmaster will be able to mint NFTs that serve as "proof of attendance" for ticket holders before, during, and after events. The tickets can then be traded and sold in the future as they retain value, similar to real-world memorabilia, but they could also be used to unlock premium virtual content related to the event, as well as discounts on future tickets or merchandise.
Dapper Labs and Ticketmaster have quietly launched an NFT pilot program over the past six months. In it, Ticketmaster automatically issued ticket NFTs as souvenirs to attendees of certain events, such as this year's Super Bowl LVI. According to Dapper, more than five million Flow NFTs were issued in the pilot program over the course of six months, and the events included the Apollo Theater, Sebastian Maniscalco, The Black Crowes, and Gael DeGraw.
Ticketmaster has created a digital wallet and marketplace for users to store their commemorative NFTs as a result of the partnership. Using the wallet and a gallery, users will be able to view and display their tickets, ideally in the same manner that concert and event attendees would show off posters and T-shirts to their friends.
In a blog post, Brendan Lynch, executive vice president of enterprise and revenue at Ticketmaster, stated, "Event organizers who choose to offer fans an NFT with their ticket have the opportunity to make this new technology relevant and relatable at scale." "We are partnering with Flow because their blockchain was built specifically for fan engagement and frictionless customer experiences."
Dapper Labs is best known for NBA Top Shot, a marketplace where basketball video clip NFTs can be bought, sold, and traded by sports fans. NBA Top Shot was initially introduced in 2020 and launched on the Flow blockchain with over 1.5 million users, 20 million marketplace transactions, and $1 billion (approximately Rs. 8,000 crore) in volume traded.
