Benefits of NFT tickets include:
- Preventing scams and fake tickets: The blockchain provides a single source of truth for both organisers and ticket holders. The transfer of NFTs from initial sale to any subsequent resale is recorded immutably on the blockchain, so all parties involved can easily verify the authenticity of the ticket. Even cooler, in cases where resale of tickets is strictly forbidden, NFTs can be programmed as non-transferrable, so they physically cannot be moved to another buyer.
- Perpetual revenue: As programmable digital assets NFTs can have built-in rules for resales, merchandise, content and royalty splits. This means that the organiser can determine profit sharing percentages for any future resales or downstream creative content on secondary markets, and reliably receive these funds knowing they are unalterable within the NFT’s coding.
- New revenue opportunities: NFTs put tickets into the realm of programmable money, opening up unlimited potential for new revenue opportunities. For example resale of NFT tickets as collectables, using NFT tickets as a gateway for giving food and drink deals, even rewarding super fans who have collected a certain number of event tickets.
Over the past year the NFT tickets have gained more attention in the crypto space. I have compiled extensive list of developers, investors, financial instintutions, ticketing companies and NBA owners that have advocated the benefits of NFT ticketing
Mark Cuban – Entrepreneur, shark and owner of the Dallas Mavericks
Gary Vaynerchuk – CEO of Vaynermedia, Creator of veefriends
Jack Groetzinger – CEO Seatgeek
Ted Leonsis – owner of NBA's Wizards, the NHL's Capitals, the WNBA's Washington Mystics
Barry Ritholtz – co-founder of Ritholtz wealth mangement – 2 billions usd under management
Joe Rogan Experience
Grayscale – Worlds largest crypto asset manager
Vitalik Buterin – co-founder Ethereum