Ticketmaster, the global provider of event ticketing services, has launched “token-gated sales,” allowing fans access to concert tickets using non-fungible token (NFT) technology. The first to use the service is the metal band Avenged Sevenfold (A7X), whose “Deathbats Club” NFT collection gave owners early access to the group’s shows in Los Angeles and New York City. Following the ticket sales, Ticketmaster announced that it had built and launched a token-gated service for the upcoming A7X shows.
Ticketmaster’s New Token-Gated Sales Service Allows for NFT Access to Concert Tickets
On March 27, Ticketmaster revealed it has created a new NFT-gated ticketing service, and the metal act Avenged Sevenfold (A7X) is the first band to trial the service. “Building on its NFT capabilities, Ticketmaster has launched the ability for artists to offer token-gated ticket sales – meaning that a sale can only be unlocked or accessed with a specific NFT,” the company said in a press statement.
A7X previously sold an NFT collection called “Deathbats Club,” and the NFTs gave owners access to purchasing tickets to shows in Los Angeles and New York before the general public. A7X and the team Bitflips worked with Ticketmaster on the functionality and “Ticketmaster built and launched the token-gated service for A7X to provide their fan community with first access to tickets for upcoming shows.”
Ticketmaster’s EVP of Global Music, David Marcus, explained that the new service “allows artists to get special access and rewards to specific fans they want to super-serve.” “Artists like Avenged Sevenfold are using Web3 and NFTs to build deeper relationships with their fans, and we’re proud to help foster that connection through live events,” the Ticketmaster executive added.
Ticketmaster has revealed intentions to dabble with NFT technology for quite some time. In August, the event ticketing company disclosed that it was working with the Flow blockchain. The company explained on Monday that the token-gated sale service is one of several “tech solutions that artists can use to get their tickets to their fans.” The company explained that the firm’s token-gated sales are Ethereum compatible and work with Web3 wallets like Metamask and Coinbase.
What are your thoughts on Ticketmaster’s new NFT-gated ticketing service? Do you think this will revolutionize the way we access and purchase event tickets in the future? Share your opinions in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer