The Live Nation subsidiary is taking a major step toward the digital collectibles space. Ticketmaster announced on Wednesday that it will allow organizers to issue event-themed non-fungible tokens (NFTs) linked to tickets on the Flow blockchain.
This digital feature will open the door for ticket-holders to loyalty perks and VIP engagement, which can translate into celebrity meet-and-greets and exclusive experiences.
According to Ticketmaster, the NFTs – which certify digital keepsakes’ uniqueness – can be issued before, during or after the event to offer collectible memorabilia.
It is not the first time that the ticketing industry titan embraced the Web3 iteration. In February, Ticketmaster partnered with Flow to issue 70,000 NFTs for the NFL Super Bowl LVI, giving fans commemorative game tickets.
In a Live Nation statement, Brendan Lynch, Ticketmaster’s EVP for enterprise and revenue, explained how the endeavour presents a unique opportunity.
“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale. This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”
Flow is no stranger to sports-based digital collectibles. The blockchain platform enables Web3 fantasy sports experiences. Flow is also the creator of NBA Top Shot, an NFT marketplace where basketball aficionados can buy, sell, and trade player cards.
The partnership will resume for another 100 games in the upcoming NFL season, which will kick off on September 9th.