Ticketmaster launches NFT-powered ticketing platform – Cryptopolitan

World-renowned ticketing company, Ticketmaster, has launched a token-gated ticketing platform that allows artists to offer unique and exclusive ticketing experiences to their fans using NFT technology.

Ticketmaster’s plans

Designed to create stronger connections between artists and fans, the new tool gives fans access to special pre-sales, premium seats, exclusive concert experiences or even customized travel packages, all unlocked by specific NFTs.

Token-gated ticket sales mean that fans can only access specific sales or events through a specific NFT. The new feature builds on Ticketmaster’s existing NFT capabilities and allows artists to reward fans who hold specific NFTs with exclusive access to upcoming concerts or events.

Avenged Sevenfold (A7X) and their team Bitflips inspired the development of this tool. A7X’s Deathbats Club, a collection of 10,000 unique Deathbat NFTs that act as fan club membership cards to unlock perks and access to events, needed a way to reward fans.

In partnership, Ticketmaster built and launched the token-gated service to give the fan community their first access to tickets to upcoming shows.

David Marcus, EVP of Global Music at Ticketmaster, said: “This new feature allows artists to get special access and rewards to specific fans they want to super serve.

Artists like Avenged Sevenfold use Web3 and NFTs to build deeper relationships with their fans, and we’re proud to help foster that connection through live events.”

Token-gated sales are currently compatible with tokens minted on Ethereum and stored in dApp wallets such as MetaMask or Coinbase. This means that the new tool is available to a large number of fans who are already familiar with cryptocurrencies.

The benefits of the token-gated sales platform

The new token-gated sales platform brings many benefits to artists and fans alike. The token-gated system is an innovative way for artists to create deeper connections with fans and reward them for their loyalty.

Fans who own specific NFTs can receive exclusive benefits, including access to pre-sales, premium seats and exclusive concert experiences, providing a more personalized and valuable experience.

The platform also provides an extra layer of security and eliminates fraudulent ticket sales. With token-gated sales, only those who have specific NFTs can access specific sales or events, thus preventing scalpers from obtaining tickets in bulk for the purpose of reselling at a higher profit.

Ticketmaster’s ongoing efforts to provide more technical solutions for artists to connect with their fans have been well received. The current suite of artist-driven tools includes Face Value Ticket Exchange, Verified Fan and Ticketmaster Request, all designed to limit ticket transfers, filter out scalpers and bot users, and eliminate the traditional rush of sales by allowing artists to sell tickets at high prices. – demand shows through a request and fulfillment model.

Ticketmaster’s new token-gated sales tool is a game changer for the live event market. It’s a big deal because it improves the quality of interaction between performers and their audience and gives the audience more of what they want.

More and more buying services, inspired by Ticketmaster’s success with token-gated sales, are likely to emerge as NFT adoption increases.