NFT Ticketing

Speed up the ticket production process and create new revenue from your event. Guarantee the veracity of your tickets, control resale and get money from royalties thanks to blockchain and NFT technology.

What is an NFT ticket?

Understanding that an NFT is a contract with blockchain technology that guarantees the ownership and authenticity of a specific work or object, an NFT ticket obtains the benefits of this technology.

Why do I need an NFT ticket?

We know that it is possible to falsify the information in a ticket. Thanks to blockchain technology, we can guarantee the ownership of a digital asset, since by finding all the content in the blockchain, it is possible to verify who owns the token or event ticket.

In addition to verifying the authenticity of a ticket, you can also offer added value to people who go to a concert, a movie, the theater, etc. Can you imagine having an exclusive NFT of a party and having the opportunity to meet your favorite artist? Or have access to all editions of a festival for life? You can add so many utilities as you want to your NFT!

How does NFT ticketing work?

NFTs are unique digital tokens stored on the blockchain. Once created, they can be sold to customers completely digitally. Customers then store NFTs in a secure wallet that they can access on any device.

In the ticketing system, event organizers can mint the required number of NFT tickets on a given blockchain. They can code the NFTs to set a sale price or run the sale as an auction where people can bid on tickets.

A buyer purchases NFT tickets from the company issuing those tickets. Upon receipt of payment, a smart contract is activated and a ticketing database sends an NFT ticket to the buyer.

Ticket holders also have the ability to resell their NFT on the secondary market. In case the company does not want there to be ticket resale, this function can also be programmed in the smart contract.

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Disadvantages of using traditional inputs

Fraudulent practices when buying tickets

In the ticketing industry, a very common practice is to use bots to buy tickets in bulk and then sell them in secondary markets at very high prices, forcing the user to compromise their security to buy them.

Impossibility to track the ticket once bought

It is impossible to trace the ticket once it has already been sold by the company, which leads to certain frauds in the secondary market. When a ticket is sold again on the secondary market, it no longer represents any ownership of the original purchaser whose details are held by the event organizer. Therefore, the event organizers do not know who has actually attended their own event. Because the tickets are issued in a way that does not allow for changes in the secondary market, there is no ability to change the ticket holder’s name or control how many times it will change hands.

Customer confidence

One of the main concerns of customers when buying tickets from third parties is whether they have paid for a real ticket or a fake one. Sometimes customers buy fake tickets from websites posing as ticketing companies, resulting in loss of money and customer disappointment.

Advantages of using NFT tickets

NFTs can potentially transform the ticketing experience for both buyers and organizers. Some of its benefits are the following:

Prevention of fake bills and scams

Blockchain provides a trusted source for ticket buyers and organizers. The transfer of NFTs from initial sale to resale is immutably stored on the blockchain so that all parties can prove the authenticity of the ticket. In cases where ticket resale is prohibited, NFTs may be developed as non-transferable, banning the  move to another buyer.

Cost reduction

The costs associated with selling and minting NFTs are insignificant compared to the traditional ticketing system. You can produce an unforgeable ticket for a lower production cost, and customers and organizers can validate each ticket’s authenticity on the blockchain and track ownership history.

Fast production

Contrary to the traditional way of digitizing tickets, you can create and mint NFTs in much less time. An NFT can be minted and ready for sale in less than a minute.

Lifetime income

NFT ticketing has unlimited potential to generate new revenue opportunities, for example, reselling NFT tickets as collectibles, using NFT as tickets to provide in-event food and rewards offers, and rewarding loyal customers. who have bought many tickets for events of the same brand.

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What opportunities do NFT tickets offer attendees?

They receive benefits and incentives from event organizers.

They can sell tickets for upcoming events that they can't attend.

They can sell exclusive NFTs tickets to big collectors who are willing to pay for them.

Possibility to save their tickets safely in a wallet.

Receive rewards, gifts and discounts once the event is over

What opportunities do NFTs offer for events?

They can create artistic tickets that represent the history of an event for people to collect for the long term.

They can prove the authenticity of each entry and verify the owner of each ticket.

They get a share of the profit when a ticket owner sells it on the secondary market.

They can access useful data that they can use to improve future events.

They can easily distribute NFT tickets via email or SMS.

They can carry out marketing strategies once the event has finished

Control or generate more business through royalties and ticket resale.

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