Ticketmaster had originally collaborated with Ethereum-based blockchain Polygon this past November, to roll out digital ticket coupons for NFL buffs throughout the season.
Ticketmaster Entertainment Inc, a California-based ticket sales and distribution firm, has adopted the Flow blockchain from Dapper Labs to mint tickets as Non-Fungible tokens for some very specific events. The popular ticketing giant in the United States has enabled event managers to put their tickets up for sale as NFTs.
The tickets have a window to be sold before, during, or even after the events on Dapper Labs-designed Flow Blockchain.
Non-Fungible tokens, which represent an exclusive collection of blockchain tokens to prove ownership, will operate as a virtual keepsake, but can also be utilized as evidence of their presence. In the last half a year, Dappers Labs and Ticketmaster rather silently inaugurated their first NFT pilot project, wherein, Ticketmaster inherently authorized ticket NFTs as collectibles to customers of special gaming events like the Super Bowl LVI.
But the recent project revealed by Ticketmaster in collaboration with Dapper Labs has a wider reach and advantage. The company has also rolled out around 5 million NFTs on Flow for Apollo Theatre, the Black Crows, Gavin DeGraw, and many other customers from the organizational side.
Recently, Flow blockchain has been in the news for allowing web3 occurrences associated with virtual, fictional sports and gaming. Before adopting Flow, Ticketmaster had originally collaborated with Ethereum-based blockchain Polygon this past November, to roll out digital ticket coupons for NFL buffs throughout the season. Eventually, the firm shifted to Flow Blockchain this year to give away virtual memorabilia to more than seventy thousand Super Bowl LVI ticket owners.
The company will again develop its association with the NFL this season, where it intends to authorize NFTs to all customers of hundred selected games, which also comprises at least three home games for all thirty-two competing teams. The firm acknowledged that it has very recently curated over 5 million NFTs on Flow via different associates following its Super Bowl debut.
While Ticketmaster does seem on a roll with its back-to-back Blockchain-based projects, Dapper Labs recently raised around $250 million at a $7.6 billion valuation. The firm is popular as the developer of NBA Top Shot, an NFT marketplace for people who love basketball, where they can trade cards of players and the best junctures in the history of the sport. Banking on this famous idea, the firm also inaugurated equivalent marketplaces for UFC and NFL buffs.
Several ticketing companies over the recent years have sought NFT-based tickets to diminish the possibility of fraud or tickets being sold at a higher rate. However, there is still no foolproof way to ascertain that no harm could happen to the process of ticket sale and purchase via blockchain.
Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.
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