August 31, 2022

Ticketmaster to let event organizers create NFTs on Flow Blockchain

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Flowverse

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The events ticketing giant, Ticketmaster, will now let event organizers create NFTs on Flow Blockchain.

This means that millions of event fans will be able to immortalize their IRL experience through digital collectibles. The NFTs can also enable special experiences like exclusive access to experiences and loyalty rewards.

This news comes at a particularly exciting time for Flow given the recent Flow NFT Instagram integration where users can now connect their Dapper Wallet direct to Instagram and share NFTs in a dedicated section on their profile.

It's not hard to imagine a world where people attend IRL events like concerts or sports matches, and then show off their passion direct on social media via Flow NFTs.

Ticketmaster have already launched NFTs on Flow previously, announcing last month that it would offer commemorative Flow Blockchain NFT tickets in partnership with Ticketmaster.

NFL Super Bowl LVI Virtual Commemorative Tickets on Flow (Source: NFL)

The Commemorative NFT tickets will be given to attendees of 101 total 2022 season games. This is a 5x increase from 2021 and more notably they are swapping away from Polygon to Flow Blockchain.

Why Commemorative NFT tickets, and what utility do they have?

  • Fans value having something that they can remember the experience of attending an event with
  • The NFTs can also be resold on the Ticketmaster marketplace but we are unable to determine what secondary market volume has been like to date
  • In the future, the NFL have said they will explore further utility or functional NFT ticketing as opposed to just commemorative ticketing

Ticketmaster is not the only Flow Blockchain project experimenting with NFT tickets.

  • FLOAT: While not strictly ticketing, FLOAT NFTs are given out as a commemorative NFT/ souvenir for people attending events
  • Tokenproof: An NFT ticketing app used to verify ownership and issue tickets for events like ApeFest. Reportedly it will support Flow in the near future
  • Raceday NFT: Raceday NFT sells commemorative tickets for well-known motorsport events
  • CanesVault: CanesVault let fans bid on a VIP Experience NFT for the Miami Hurricanes x Virginia Tech game offering a VIP experience for the winner and 19 of their friends and family
  • NBA All-Star VIP Pass NFT: 1-of-1 NFTs for each of the league's 30 teams that provide their owners with unprecedented, VIP access to the next 5 NBA All-Stars, starting in 2023
  • Hoodlums: Holding a Hoodlums NFT enables you to gain access to premium real-life events

Flowverse hot take: NFT ticketing may succeed if companies focus on expanding the market for tickets overall instead of aiming to disrupt existing ticketing processes. For example, commemorative ticket NFTs may serve to increase the market size for attending events, and hence for tickets overall. The ability to also share NFT tickets on Instagram and other social media platforms has enormous potential - both as an online place for fans to show off their memorabilia and for companies looking for a new way to organically market events.

Flowverse is looking forward to when we can go to a football match, watch our favourite player score a last-minute goal and go home with an NFT moment of this.