Ticketing: How Web3 Can Evolve The Industry And Unlock Doors - Aliens: AI Crypto News & Markets Updates












Ticketing: How Web3 Can Evolve The Industry And Unlock Doors


Thu, Jun 30, 2022


Aliens TLDR

Ticketing and the industry’s biggest pain points can be eradicated using Web3 tech, says Josh Katz of YellowHeart , the first company to ever release an NFT album and tickets on the blockchain with Kings of Leon.

One of these, in fact, is the event industry – more specifically, event ticketing.

Online event ticketing is predicted to be worth $68 billion by 2025 and the industry is seeing unprecedented demand after COVID restrictions slowly begin to lift across the globe.

With such a prodigious industry, there is the potential for significant growth and earning potential for projects that can address the key issues already associated with event ticketing.

Web3 can help eradicate a number of these problems, but first, we must understand what the existing issues are with the ticketing industry.

As more people are willing to return to in-person events and pay good money to do so, this could mean a significant pay-off for scammers if they successfully entice an innocent customer into purchasing illegitimate tickets.

Built on top of blockchain technology, NFTs tickets are unique and verifiable digital assets that move far beyond traditional ticketing.

When it comes to counterfeit tickets, since NFTs live on the blockchain, venues are able to quickly determine who the original IP owner of the ticket is and if it’s authentic or not.

When looking at the value non-fungible tokens can specifically bring to the event ticketing industry, because data is saved on a blockchain, an NFT ticket can show proof of authenticity.

Often, an NFT ticket changes when it’s scanned at a venue.

Traditional tickets usually become redundant strips of paper or unusable barcodes when venues scan them, but NFT tickets come to life to consolidate your attendance at an event.

Owners of any of the tickets would have access to prime seating, added benefits such as food and drink credits, and even meet-and-greet opportunities – showcasing the utility of NFTs. The Web3 world is still incredibly raw and more education is required so that event organizers can acknowledge just how beneficial Web3 is to the ticketing of events on both small and large scales.

Integrating Web3 and NFTs to ticketing platforms allows for greater engagement with fans as the ticket itself goes beyond just permitting access to the event.

But ultimately, the events industry needs to be receptive to this innovation and comprehend that existing methods of ticketing are not fit for purpose.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time


Recommended Stories

Article list item background

Litecoin falls beneath a bullish order block, could $40 be next target

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Just a week ago, Litecoin [LTC] rallied to the $61 level but faced rejection there. This was a bearish development, especially for long-term investors. The market structure continued to remain bearish, and […]
AMB Crypto

Jul 3


Recommended Stories


AAVE traders have this in store for coming days after bearish pennant’s…


Assessing the odds of The Sandbox [SAND] falling below $1 mark


Axie Infinity: Risk would be to buy range lows with a stop-loss at…


Stellar: Factors that didn’t play in favor of XLM’s rally despite…


Bitcoin, Ethereum and Altcoins Present Signs of Incoming Price Turnaround; Here’s When


BTC, SOL and AVAX Price Analysis for July 2


3 Reasons Why Bitcoin Might Retrace in Upcoming Week and Reach $22,000

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens