What are Ticketmaster NFTS & how do they work?

The NFTs are positioned to offer ticket-owning event attendees richer experiences. Primarily, the linked NFTs hope to offer Ticketmaster eventgoers Web3 analogs to the IRL events, where they receive the NFTs. Recipients of linked NFTs may gain access to “VIP experiences,” according to Flow.

Are NFT tickets a good idea?

Although NFT tickets are still a relatively new idea and are not yet widely used in the ticketing industry, they have the potential to gain popularity as a means of managing and representing event tickets in the future. They can provide a more secure, transparent and adaptable method of handling ticket sales and distribution.

What is a nonfungible token (NFT) ticket?

Customers will receive an NFT on top of a regular ticket purchase for select events. According to Flow, a digital engagement layer-1 blockchain created by Dapper Labs, Live Nation's subsidiary Ticketmaster has unveiled nonfungible tokens (NFTs) tickets for event organizers minted on its blockchain.

How does NFT work?

Once they set the sale or auction price, payment from a buyer will trigger a smart contract. The NFT ticket will then be sent to the buyer's digital wallet, allowing them to access it anytime via their phone.