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Tuesday, March 28, 2023

Ticket Marketplace Giant Ticketmaster Chooses Flow Blockchain for NFT Push

Ticket Marketplace Giant Ticketmaster Chooses Flow Blockchain for NFT Push – A sportsbusinessjournal.com report posted August 31, 2022 stated that Ticketmaster would permit event promoters to issue NFTs via the Flow blockchain. Before, during, or after an event, organizers will have the option to mint NFTs, which can be used to represent rewards, VIP access, tickets, or other memorabilia. The ticketing agency has already generated 5 million NFTs, according to the report, using the Flow network.

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The Apollo Theater, Gavin DeGraw, and The Black Crowes are a few clients who have issued NFTs. Although Ticketmaster had first stated that it would use Polygon, the world’s largest ticket exchange eventually chose to use Flow for the Super Bowl LVI NFT tickets.

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Through the agreement it reached for the “NFL All Day” NFTs, Flow already has a working relationship with the NFL. Additionally, the Flow run by Dapper Labs was used to create “NBA Top Shot” and “UFC Strike” NFTs. Additionally, fans of NFL games can purchase NFT tickets from more than a hundred games starting in the 2022 season through Flow.

According to statistical information from the NFT data aggregator cryptoslam.io, out of 19 different blockchains, the Flow blockchain holds the fourth-largest position in terms of NFT sales. NFT sales on the Flow blockchain have totaled $1,098,215,401, according to data from cryptoslam.io. According to 30-day statistics, Flow is the fifth-largest just behind Immutable X, which increased by 417% in the previous month.

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Ticket Marketplace Giant Ticketmaster Chooses Flow Blockchain for NFT Push – Flow also confirmed the Ticketmaster deal on Wednesday when it tweeted about it to Live Nation fans. “Big news for live event fans,” Flow said. “Ticketmaster event organizers now can offer digital keepsakes, minted on Flow.” The company continued:

Activate access to experiences and rewards. And that’s not all — Ticketmaster is empowering event organizers to enhance live experiences for fans — Share your experiences online, never lose that ticket from the show you loved, new ways to reward communities, and enjoy VIP experiences.

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