Ticketmaster Introduces NFT Pre-Sale for Avenged Sevenfold Tour
- Ticketmaster is experimenting with NFTs once again, offering exclusive access and discounts to certain token holders for the upcoming Avenged Sevenfold tour.
- The ‘Deathbats Club’ holders, with a collection of 10,000 NFTs on the Ethereum blockchain, will be able to access priority tickets and seating without queuing.
- This move highlights the potential of NFTs to improve the ticketing experience and reduce ticket fraud while creating a sense of exclusivity for fans.
Ticketmaster, the world’s leading ticketing company, is again exploring the potential of non-fungible tokens (NFTs).
NFTs are digital assets that represent ownership of unique items, such as digital art or collectibles. This time, Ticketmaster has integrated cryptocurrency wallets to offer exclusive access and discounts to certain token holders for the upcoming Avenged Sevenfold tour.
The ‘Deathbats Club’ holders, with a collection of 10,000 NFTs on the Ethereum blockchain, will be able to access priority tickets and allocated seating without queuing. This significant move enables Ticketmaster to offer exclusive benefits to certain customers and create a sense of exclusivity.
According to Rob Abelow, the founder of Where Music’s Going, this is the best version of “Verified Fan”. The NFTs provide a way to verify the authenticity of the fan, which is an essential step in reducing ticket fraud and ensuring that genuine fans can get access to tickets.
Although the initiative has received praise, it has also divided opinion among industry stakeholders. Ticketmaster has been criticized before for anti-competitiveness claims, and some independent artists have argued that supporting Ticketmaster does not prioritize creator-owned monetization. TRAX, a social marketplace for music, responded to Abelow’s comments, noting that independent artists deserve a platform that prioritizes creator-owned monetization, not a monopolistic incumbent playing catch-up.
Last year, Ticketmaster 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, mainly restricted to post-event commemorative tokens.
This move by Ticketmaster highlights the potential of NFTs as a tool for ticketing, and it will be interesting to see how the market develops. The integration of cryptocurrency wallets into the ticketing process could be a game-changer for the industry, and it could help to solve some of the long-standing issues around ticket fraud and scalping. It remains to be seen how this will impact the industry, but it is clear that Ticketmaster is committed to exploring new ways to improve the ticketing experience for fans.
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