Benefits of NFT tickets include:
Increased profitability – Total control and insights over the primary & secondary market. Take in the profit that would have gone to scalpers.
Collectible – Tickets become tradable digital collectibles (NFTs), with a variety of awesome possibilities for fans & event organizers.
Unrivalled data – Clear, verifiable data on ticket ownership, vastly improving marketing efforts.
Pre – financing events – using tickets as colleteral to finance events leveraging the benefits of DeFi and NFTs
Adoptiong is already happening
Major ticketing companies like Ticketmaster and Seatgeek are actively working on implementing NFT ticketing. Seatgeek CEO, Jack Goetzinger, thinks nearly 100% of tickets will include an NFT component in 5-10 years time. Furthermore, Seatgeek hired a blockchain executive as VP of engineering and Seatgeek plans to roll out NFT ticketing for the NFL and NBA. Ticketmaster also launched its own version NFT collectibles tickets, called ticketstub.
NBA team owners Mark Cuban and Ted Leonsis both recognized the potential of NFT ticketing
Mark Cuban has been particularly interested in being monetizing the secondary markets with royalty functionalities on NFTs. In March Cuban stated:
“With the [Mavericks], we’re trying to find a good option for turning our tickets into NFTs,” “We want to be able to find ways so that not only can our consumers, our fans, buy tickets and resell them, but we continue to make a royalty on them.” – Mark Cuban
Ted Leonsis NHL and NBA teamowner also sees the potential of using NFT tickets to monetize the global fanbase of sport frachises using NFT tickets collectibles.
“What if [the Caps were] selling a ticket along with a memory of the night Alex [Ovechkin] scores his 717th goal? Now, people in Russia are buying. They’re [keeping] the memory and then reselling the actual ticket entry into the business. [Our] TAM [total addressable market] is the world—not just people who are Caps fans who want to come to that game.” – Ted Leonsis
Read more on NFT tickets in this extensive FAQ: