Ticketmaster has launched a new feature that takes the next step in NFTs. This allows artists to give owners of an NFT special access to events. This is an innovative application of NFTs in the real world. The new function has already been used by a large band.
The feature is also referred to as “token-gated ticket sales.” A statement released by Ticketmaster on Monday said that this feature can be used with Ethereum-minted tokens stored in digital wallets at the likes of MetaMask or Coinbase.
Function is already applied in practice
The heavy metal band Avenged Sevenfold (A7X) first used the feature through Ticketmaster. The owners of the Deathbats Club NFT Collection, which launched at the end of 2021, were rewarded. Owners of this collection could buy tickets earlier. Artists could also expand the feature by offering rewards such as special seats or travel packages to the NFT owners.
The lead singer of Avenged Sevenhold, M Shadows, tweeted last week that owners of the Deathbats NFTs had “the easiest ticketing experience ever.” “Let’s hope more bands start doing this,” M. Shadows said on Twitter.
Ticketmaster already had experience with NFTs
This launch of Ticketmaster was not unexpected. In August of last year, a range of NFTs was already introduced on the platform. This gave sellers, in this case artists, the opportunity to sell NFTs before, during or after major performances and events.
At the time, Ticketmat had already minted more than 5 million NFTs on the Flow blockchain, Dapper Labs said in a statement. blog post. Dapper Labs is the company behind CryptoKitties and NBA Topshot and developed the Flow blockchain in 2019. Ticketmaster also used Flow in the past to distribute more than 70,000 NFTs during Super Bowl LVI in 2022.