By Celebrity Access
Ticketmaster announced the launch of new technology that will provide event organizers with a new way to integrate collectible NFTs into the fan experience.
According to Ticketmaster, event organizers who sell tickets to live events through Ticketmaster will now have the ability to issue collectible NFTs before, during, and after live events.
The new system has already caught on and Ticketmaster reports ‘minting’ more than 5 million NFTs for event organizers on the Flow blockchain.
The NFTs can be shared online or activated to access loyalty rewards around an artist or event through digital keepsakes, including VIP engagement opportunities and more.
The technology is powered by the Flow Blockchain, which has been designed as a commercial product and has already delivered programs experiences like NFL ALL DAY, NBA Top Shot and UFC Strike.
As well, the Flow Blockchain consumes less energy than traditional blockchain technology and according to independent auditor Deloitte, NFTs minted through Flow consume less power than a post on a social media site.
Ticketmaster is no stranger to the Flow technology and has already used the platform to distribute more than 70,000 one-of-one virtual commemorative ticket NFTs at Super Bowl LVI with each attendee’s unique seat location on the NFT itself. For the 2022 season, the NFL will offer Flow-minted NFTs to every attendee at more than 100 games, including at least 3 home games for each team.
“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale,” said Brendan Lynch, Ticketmaster EVP of Enterprise & Revenue. “This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”
“Our partnership with Ticketmaster will enable millions of live event fans to immortalize, share and enhance their IRL experiences through digital collectibles,” added Mickey Maher, SVP Partnerships of Dapper Labs. “Ticketmaster has quickly become a leader in this space, so we’re excited to support their work in empowering event organizers to deliver even greater value to fans through the benefits of blockchain.”