Snoop Dogg: “NFTs will replace all ticketing”

dfmines Cryptocurrency News January 19, 2022 | 0

Benefits of NFT ticketing

Preventing fake tickets and scams
Blockchain provides a single source of truth for both ticket holders and organizers. The transfer of NFTs from the initial sale to resale is stored on the blockchain immutably so that all parties can prove the ticket’s authenticity.
In cases where the resale of tickets is forbidden, NFTs can be developed as non-transferrable, not to be moved to another buyer physically.
Reduce costs
Costs associated with selling and minting NFTs are negligible as compared to the traditional ticketing system. You can get an unforgeable ticket for less production cost so that customers and organizers can validate the authenticity of every ticket on the chain and track the history of ownership.
Perpetual revenue
Since programmable NFTs can have built-in rules for merchandise, content, resales, and royalty splits, it means that the organizer can analyze profit sharing percentages for future resales or creative content on secondary markets and receive funds knowing they are unalterable within the NFT’s coding.
New revenue opportunities
NFT-based tickets act as programmable money, providing unlimited potential for new revenue opportunities. For example, the resale of NFT tickets as collectibles, using NFT tickets to provide food and drink deals and rewarding fans who have gathered many event tickets.

How can NFT Ticketing disrupt the ticketing industry?

Snoop Dogg