Non-fungible tokens (NFTs) are well-known for their use in digital collections and the gaming industry, and now seem to have captured the imagination of the ticket market. “NFT tickets offer a more streamlined and efficient issuing system, offering multiple benefits for both guests and organizers. It is a much more reliable and trustworthy ticketing method as there are virtually no concerns about fraud, fraud or trust issues,” Lepasa Metaverse co-founder Ashish Agarwal told FE Digital Currency. .
NFT tickets are believed to have become popular after digital artist Beeple’s work sold for over $69 million. According to industry experts, NFT will bring transparency to the ticket industry with the help of blockchain. “These tickets provide authenticity verification by making ownership transparent,” said Farheen Ahmad, founder and CEO of web game engine Interality. Additionally, industry experts opined that NFT tickets are immune to black marketing and multiple ownership.
Furthermore, it is believed that NFT tickets can create a win-win situation for both buyers and organizers, thereby having a game-changing impact on sectors such as events, travel, tourism and the ticket industry. . “NFT tickets have great potential for live shows and music events, including streaming platforms that can deliver personalized content based on ownership of a particular show. We can share the data, which can be further leveraged to create user personas and optimize marketing and advertising spend,” said the founder and director of Wize, an NFT infrastructure for business enterprises. Saurav Raaj said.
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