Ticketmaster enters the music NFT market

Dapper Labs, the Warner Music founder of NBA Top Shot, recently revealed Ticketmaster’s newest NFT action plan, which allows event planners to submit NFTs earlier, throughout, and after sports broadcasts.

Ticketmaster has already generated over 5M NFTs for event organizers so far. Live Nation is opting to issue the cryptocurrencies on Dapper’s Flow public ledger. And as previously stated, these virtual collectibles are available across all on-platform, not just athletics games.

Earlier, Ticketmaster and NFL utilized Flow to produce special virtual vouchers in the shape of NFTs to commemorate Super Bowl LVI, for example. A few are looking to sell these virtual products on eBay for exorbitant prices. At the same time, the NFL anticipates making Flow-minted NFTs accessible to all attendees at over 100 chosen games this year.

While the specifics of Ticketmaster’s latest NFT project remain unknown, Dapper’s official release persists that the goods are intended to improve ticketholder experiences and provide planners with a new method of communicating with people watching their events.

What about the crypto winter?

Higher-ups emphasized the perceived value of linking NFTs to distinctive loyalty bonuses and VIP community engagement. Despite a virtual currency winter and general economic difficulties, many other enterprises have noted strong sales with previous frameworks, in which tokens award owners exclusive benefits.

Brendan Lynch, Executive vice president of organization and income at Ticketmaster, addressed the agreement in a declaration, emphasizing the potential long-term impacts of prevalent NFT adaptation at live sporting events.

According to the retired Ticketmaster SVP and now NFL team president, event planners who decide to include an NFT in their ticket system have a genuine chance to render this modern tech pertinent and believable at magnitude. They are collaborating with Flow, whose blockchain is designed specifically for fan interaction and effortless customer interactions.

OneOf, a music NFT system, declared the ending of an $8M session last month, while Meta enlarged Instagram’s NFT cover across over 100 nations. Meanwhile, Kobalt debuted a selection of NFTs named “An Electro Revival.” It also was revealed that Muse’s newly released NFT discography might become chart-eligible within the United Kingdom. Currently, the 28-year-old band has several concerts planned, along with checkpoints in Europe and North America.