The world's largest ticket seller, Ticketmaster, has revealed that it will use the Flow blockchain from Dapper Labs to create non-fungible tokens (NFTs) for some events. In order to provide "proof of attendance" for ticket holders, Ticketmaster will be able to mint NFTs for them before, during, or after events using the Flow blockchain. The tickets can then be traded and sold in the future since they will hold their worth, just like real-world memorabilia, but they can also be used to access exclusive virtual content about the event and perhaps even receive savings on additional tickets or items in the future.
Dapper Labs and Ticketmaster secretly started an NFT test programme over the previous six months. In it, Ticketmaster automatically distributed ticket NFTs as souvenirs to guests of particular events, such as this year's Super Bowl LVI. According to Dapper, more than five million Flow NFTs were produced in the trial programme over a six-month period for events like Gavin DeGraw, Sebastian Maniscalco, The Black Crowes, and the Apollo Theater.
Through the collaboration, Ticketmaster has developed a marketplace and digital wallet where consumers may store their commemorative NFTs. Users would be able to browse and exhibit their tickets using the wallet and a gallery, ideally in the same manner that people who have attended concerts and events might flaunt posters or T-shirts to their friends.
Brendan Lynch, EVP of Enterprise and Revenue at Ticketmaster, wrote in a blog post that "event organisers that choose to provide fans an NFT with their ticket have a tremendous chance to make this new technology relevant and accessible at scale." Because Flow's blockchain is specifically designed for fan interaction and frictionless consumer experiences, this is why we are cooperating with them.
NBA Top Shot, a marketplace where sports enthusiasts can buy, sell, and trade NFTs including basketball video clips, is Dapper Labs' most well-known product. NBA Top Shot, which debuted on the Flow blockchain in 2020, has amassed over 1.5 million users, 20 million marketplace transactions, and a $1 billion (approximately Rs. 8,000 crore) in total volume exchanged since its inception.
