Ticketing giant Ticketmaster has announced that it will adopt the Flow blockchain from Dapper Labs for minting tickets as non-fungible tokens (NFTs) for select events. Using the Flow blockchain, Ticketmaster will be able to mint NFTs for ticket holders before, during or after events that will provide “proof of attendance” for ticket holders. The tickets can then be traded and sold in the future as they will retain value, like real-world memorabilia, but they could also be used to unlock premium virtual content related to the event and possibly discounts for future tickets or merchandise.
Over the past six months, Dapper Labs and Ticketmaster quietly launched an NFT pilot program. In it, Ticketmaster automatically issued ticket NFTs as memorabilia to attendees of specific events like the Super Bowl LVI this year. In the pilot program, more than five million Flow NFTs were minted in a six-month period, according to Dapper, and the events have included the Apollo Theater, Sebastian Maniscalco, The Black Crowes and Gavin DeGraw.
With the partnership, Ticketmaster has created a digital wallet and marketplace for users to store their commemorative NFTs. Using the wallet and a gallery, users will be able to view and display their tickets – ideally in the sort of way that people who have gone to concerts and events would show off posters or T-shirts from attendance to their friends.
“Event organisers 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 and Revenue, in a blog post. “This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”
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Dapper Labs is best known for NBA Top Shot, a marketplace where sports fans can buy, sell and trade NFTs featuring basketball video clips. Initially introduced in 2020, NBA Top Shot also launched on the Flow blockchain and has grown to over 1.5 million users and 20 million marketplace transactions and $1 billion (roughly Rs. 8,000 crore) in total volume traded.