Ticketmaster, a well-known leader in event ticketing, is once again experimenting with NFTs that give certain token holders exclusive access and discounts to events.
Ticketmaster has integrated a cryptocurrency wallet for the next Avenged Sevenfold tour to allow these perks to select users.
Fan club members get perks
Ticketmaster introduces special perks for ‘Deathbats Club’ holders for Avenged Sevenfold Tour.
According to OpenSea, the fan club has a collection of 10,000 NFTs on the Ethereum blockchain. As per the reports, the holders will have priority for tickets without queue and allotted seating.
Rob Abello, founder of Where’s the Music Going, called it the best version of “Verified Fan”. According to the executive, 1,000 Deathbats holders bought early access to the NYC and LA shows scheduled for June. He also appreciated the ticket conversion rate of 10%.
However, the premier booking provider left Twitter users divided over the NFT-gated sale. “This is one of the most important use cases for NFTs, showing how your interactions with an artist in one field can open doors in others,” Abello continued. Furthermore, he tagged interoperability as a “superpower”.
NFT-gated ticketing amid Ticketmaster monopoly claims
Ticketmaster has been reprimanded multiple times with anti-competitive claims. Most recently, Munch apologized to Taylor Swift and her fans before a US Senate hearing. Many ‘Swifties’ were unable to buy tickets for the concert, as demand for her Eras Tour overloaded the system.
Trax, a social marketplace for music, said that Ticketmaster’s endorsement of independent artists is not fair. The platform responded to Abello, “Artists deserve a platform that prioritizes creator-owned monetization, not monopolists playing catch-up.”
Last year, the US ticketing company expanded its NFT offering in partnership with Flow Web3 Networks. Ticketmaster and Dapper Labs, the operators of the Flow blockchain, ran a number of NFT tests ahead of the launch.
According to Billboard, Ticketmaster has given out more than 5 million NFTs to people attending live sporting events and shows. These NFTs were mainly limited to post-event commemorative tokens.
As BeInCrypto previously reported, NFTs could potentially change the ticketing landscape by giving fans more ownership and control over their tickets. By ensuring the validity of tickets, this method of ticketing can also reduce the incidence of fraud and forgery.
At the same time, the NFT sector is grappling with major long-term hurdles related to security, user experience and declining brand interest.
BeInCrypto has reached out to the company or individual involved in the story for an official statement regarding the recent developments, but has not yet received a response.