• Ticketmaster is partnering with heavy metal band Avenged Sevenfold to introduce its Ethereum NFT token-gating feature in an effort to combat scalping, bot activity, and long wait times.
• Fans have already used this feature to buy tickets for major events, and it will now be available for all remaining dates on Ticketmaster.
• The implementation of token-gated ticket sales through NFTs presents a unique opportunity for fans to own exclusive digital keepsakes.
Ticketmaster Launches Token-Gated Feature with Avenged Sevenfold
Ticketmaster is partnering with heavy metal band Avenged Sevenfold to launch its Ethereum NFT token-gating feature in a bid to put an end to scalping, bot activity, and long wait times. As part of this partnership, the band tested the feature with its Deathbats Club NFT collection prior to its full integration. This marks the first time that Ticketmaster is offering token-gated integration for direct ticket purchases after previously issuing over 5 million NFTs as commemorative tokens for major events such as the Super Bowl.
How Does Token Gating Work?
As part of the purchasing process, Ticketmaster will guide users to connect their wallets to verify NFT ownership, following which the buying process will remain unchanged. Subsequently, the ticket will be issued directly into the wallet linked with the NFT giving fans the option to transfer their ticket into another wallet if needed. At present this is a trial initiative but if there is enough demand it could expand beyond just Avenged Sevenfold.
What Are The Benefits Of Token Gating?
The use of token gating provides fans with exclusive access to a one-of-a-kind digital keepsake while also ensuring heightened safety and clarity in the ticket buying experience. With no worry of bots or scalpers being able to get tickets before genuine fans can get them it allows more people access at more reasonable prices while also providing extra security against fraud or double bookings.
NFTs Making Strides In Music Industry
The introduction of token gated ticket sales through NFTs by Ticketmaster is a significant step in helping combat scalping and bot activity in live events industry and creating a safer environment for fans when buying tickets online. It also creates opportunities for music lovers across all genres as they can own exclusive digital keepsakes associated with their favorite artists that they wouldn’t normally have access too otherwise due too limited supply or cost prohibitive prices from resellers or third party vendors .
Conclusion
Ticketmasters efforts show how blockchain technology can help make sure that music lovers can get tickets safely at fair prices without having worry about getting priced out or scammed by resellers looking take advantage of them . The cooperation between Ticketmaster and Avenged Sevenfold serves as an example that other music industry players should follow if they want create better experiences for consumers .