Ticketmaster, the Hollywood-based ticket service provider, has taken a leap into the blockchain world with a new NFT widget. The introduction of token-gated sales will enable musicians and bands to connect with their most devoted fans, giving them priority access to desired seats, private events, and exclusive drops. This innovative technology will allow musicians to strengthen their relationship with their fans by rewarding them with early access to VIP tickets, promoting a sense of loyalty and exclusivity.
The inspiration behind Ticketmaster’s NFT feature was initiated by the popular heavy metal band, Avenged Sevenfold (A7X). The band’s Deathbats Club NFT collection, priced at approximately $300 on secondary markets, allows fans to use their NFTs as digital membership cards. Lead singer M. Shadows encouraged fans to unleash their creativity and use their NFTs in any way they see fit. All perks can be accessed on the band’s official website, cementing a stronger relationship between the band and their fans.
The introduction of Ticketmaster’s new feature could be seen as an attempt to improve their reputation, which has been tarnished by the additional fees they impose on customers. Many people took to Twitter to express their outrage, with some customers stating that fees can double the ticket’s original price. The service’s reputation for adding extra fees to tickets has led to them being mocked through memes, with some customers likening their tactics to a “strong-arm robbery.” Movie and entertainment journalist Todd Spencer noted that The Simpsons predicted Ticketmaster’s greediness back in 1996.
Crypto Twitter is divided on the news of Ticketmaster’s NFT feature. While many crypto enthusiasts believe that the move runs counter to the decentralized spirit of blockchain, some see this as a positive step for quicker crypto adoption. According to the decentralized ethos, artists should control monetization, rather than big corporations.
The integration of blockchain technology by Ticketmaster is crucial for quicker crypto adoption, with major bands using this technology to connect with their fan base. By utilizing NFTs, musicians can build stronger relationships with their most loyal fans, rewarding them with early access to VIP tickets, promoting a sense of exclusivity, and ultimately leading to quicker crypto adoption.
