As the world dives deeper into the digital era, NFT (Non-Fungible Token) ticketing has emerged and shown potential to evolve the events and entertainment ticketing sector. At NFT.NYC, we've been at the forefront of pioneering these innovative ticketing solutions. Let’s delve into the spectrum of NFT ticketing to see what brands have accomplished, and what tools events can leverage for their own NFT ticketing endeavors.
NFT ticketing allows event organizers to deliver exclusive benefits and offers to attendees, while delivering digital collectibles that attendees can hold on to forever - a digital ticket stub. The nature of NFTs provides transparency in the issuance and secondary sales and transfers of NFT tickets.
The three flavors of NFT Ticketing
All NFT tickets can be collectible, tradable, dynamic. A dynamic NFT ticket may be updated to reveal final artwork, before, during, or after an event. Any kind of NFT ticket can be loaded up with benefits and offers that are only accessible to attendees.
There are three different flavors of NFT ticketing - let's see what sets them apart.
These are scannable and redeemable NFT tickets issued for events that adopt NFT ticketing as their sole ticketing option. Attendees purchase or register these NFT tickets directly, which grant them access to the event. Standalone NFT Tickets reduces scalping by making it more difficult for malicious actors to accomplish due to the technology being new and requiring web3 wallets and transfers on a blockchain.
Mirroring conventional tickets from platforms like Eventbrite, these NFTs employ the same QR code or ticketing functionality, offering a seamless blend of traditional and NFT ticketing. Digital Twin NFT Tickets are automatically distributed based on Eventbrite registrations and attendees can enter an event with their conventional Eventbrite ticket or their NFT ticket. Digital Twin NFT Tickets are a great way to incorporate new and engaging technology into an event without alienating those that are not NFT savvy.
Serving as digital memorabilia, these NFTs can be issued before or after an event, ensuring attendees have a cherished digital reminder of their experience. Commemorative NFT Tickets can be automatically distributed based on Eventbrite registrations and do not allow admittance to an event. Since this type of NFT is commemorative, attendees scan into the even using a traditional ticket that they're used to.
NFT.NYC's Ticketing Experiments
NFT.NYC has experimented with various NFT ticketing solutions since 2019.
NFT.NYC 2019
For NFT.NYC 2019, we collaborated with OpenSea to launch one of the first NFT ticketing endeavors as a proof of concept. Dubbed CryptoTickets, these ERC721 NFTs were minted on Ethereum and were instantly re-sellable, transferrable, bundle-able, bid-able, and interoperable.
NFT.NYC 2020
In 2020, we worked with OpenSea and DappReview to launch a more secure version of CryptoTickets for General, VIP, and Developer access. There was a Limited Edition version to commemorate the Chinese New Year.
NFT.London 2022
At NFT.London 2022, we collaborated with NFT.Kred to treat all attendees to a Commemorative NFT Ticket, featuring artwork from esteemed UK artists, including the iconic XCOPY. These NFTs serve as memorabilia and collectible stubs for event attendees.
We ventured into Standalone NFT Ticketing during NFT.London 2022, offering a unique ticketing experience through a collaboration with Yellowheart. Attendees could purchase a ticket directly through the Yellowheart app and use that for entrance into NFT.London 2022. The Yellowheart team was on-site with us to scan and verify the NFT tickets.
NFT.NYC 2023
We collaborated with NFT.Kred to pioneer Digital Twin NFT Tickets, integrated directly with Eventbrite for NFT.NYC 2023. These tickets doubled as exquisite pieces of art from our Community Artist Showcase.
Every attendee that registered on Eventbrite automatically received a Digtial Twin NFT Ticket. The Digital Twin tickets could be scanned for entry into the event as an alternative to the conventional Eventbrite tickets. The artwork used on each ticket was dynamically revealed after the event, as can be seen above.
Brands riding the NFT Ticketing Wave
In 2022, LiveNation started issuing Virtual Commemorative Tickets for their concerts. All attendees received a Commemorative NFT Ticket upon completing their ticket purchase and registration. Each LiveNation Virtual Commemorative Ticket details concert data, merging the world of NFTs with live performances.
Multiple brands under the Ticketmaster name launched their own Commemorative NFT Tickets in 2021, including the NFL. Each NFL Commemorative NFT displays a video of the teams involved in the matchup and the date, time, and location of the game. They are minted and delivered to fans when their tickets are scanned in at a game. From the NFL to other major events, Ticketmaster’s Commemorative NFT tickets offer fans a slice of history.
Coachella 2022 introduced the Coachella Keys Collection of 10 lifetime pass NFTs granting their holders entry into all future Coachella events. They were minted on Solana through a partnership with FTX and in total sold for $1.5 million.
Rolling Loud 2023, the world’s largest hip-hop festival, launched Loudpunx, a large-scale NFT project. Loudpunx holders are granted global access to all future Rolling Loud music festivals and an array of other ongoing incentives.
Even The Olympics and Forumla 1 have started issuing NFT tickets. Formula 1 minted NFT tickets on Polygon for The Monaco Grand Prix in May 2023, and The Olympics started issuing NFTs as tickets and rewards from mobile games for the 2022 Winter Olympics in Beijing.
NFT Ticketing Platforms
In order of number of NFTs minted
NFT.Kred - 40m+ NFTs Minted
NFT.Kred stands out as a holistic solution for NFT ticketing, catering to diverse event needs. They offer all 3 flavors of NFT ticketing, from Standalone and Digital Twin to Commemorative NFTs. A standout feature is their seamless integration with Eventbrite, automating the issuance of uniquely designed tickets upon each registration.
This integration ensures accessibility for all. Traditional attendees can use their Eventbrite ticket for event entry, while the NFT-savvy have the flexibility to use their NFT tickets.
NFT.Kred's tickets are dynamic, unveiling updated designs post-event or on-demand. Beyond just access, their customizable Benefits allow organizers to provide attendees with exclusive offers or resources, creating engagement around and event enriching the attendee experience from start to finish.
NFT.Kred is an industry leader with over 40 million NFTs minted as of October 2023.
GUTS Tickets - 1.9m+ NFTs Minted
Powered by GET Protocol, this platform curtails ticket fraud and secondary market inflation, while offering added benefits through its NFT tickets. Events can leverage the GUTS Tickets app in the same way they would Eventbrite to sell tickets, or companies are able to use the GET Protocol to build their own ticketing app and experience.
As of the end of 2022, GUTS Tickets had minted over 1.9m NFTs.
Yellowheart - 100k+ NFTs Minted
Yellowheart mints NFT tickets into its dedicated wallet app or browser extension. They support dynamic tickets that transform post-scanning and interactive features like push notifications and NFT airdrops. Yellowheart enriches the attendee experience with offering exclusive resources and merchandise options.
Yellowheart has collaborated with mainstream artists and venues to release redeemable NFTs and tickets, such as Kings of Leon, Blue Note NYC, Marquee, and MGM Las Vegas theater for the show Jabawakeez
As of October 2023, Yellowheart has minted over 100k NFTs.
Heirloom - 1k+ Verifiable Credentials issued
Their Apple or Google wallet-style app stores Verifiable Credentials like awards and memberships, offering a familiar user experience. Heirloom's Verifiable Credentials are similar to NFTs but use different technological standards and cannot be transferred or resold. Events and brands can issue Verifiable Credentials that function as event tickets to a Heirloom wallet user's account. Heirloom has partnered with several universities to issue Verifiable Credentials for degrees and as a method of tracking class attendance.
Heirloom was founded in 2021 and as of October 2023 they have issued over 1,000 Verifiable Credentials. They are growing 53% monthly and expect to issue over 100,000 Verifiable Credentials in Q1 2024.
Current Platform Limitations
Royalties
NFT creators have requested a royalty solution that is enforced on chain and across all marketplaces and wallets.
Truly immutable royalties for any digital asset (including NFT tickets) are WIP.
We are aware of two chains that have implemented on-chain enforceable royalties (MIP-1 on Solana and NEAR).
There is no universal on-chain royalty Ethereum solution.
The ERC-721c standard developed by Limit break is a step forward, though can be bypassed.
Transfers without resale
Along with royalties, there are challenges in controlling the resaleability and transferability of NFT Tickets in secondary markets.
Once NFT tickets are transferred into non-custodial wallets, it is difficult to effectively impose transfer and resale restrictions.
Additional secondary market control provides event organizers more flexibility, and the ability to create exclusive selling channels in ticket sales.
We expect further development efforts to provide event organizers a better experience - both on Ethereum and non-Ethereum compatible chains.
Identifying the Right NFT Ticketing Solution
With a rich history in event ticketing and having collaborated with several NFT ticketing providers, NFT.NYC is perfectly poised to guide you towards the optimal solution for your needs. Reach out to us, and let’s take your event ticketing to the next frontier.
Need help finding the right NFT ticketing solution?
Speak to an NFT.NYC Ticketing Advisor, and we'll help match you with a NFT ticketing provider.
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Disclaimer: Our owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on this blog is investment advice nor is it a replacement for advice from a certified financial planner.
