News Technology Media Telecoms

Ticketmaster rolls out NFT collectible offering to all live event organizers

event tickets

Today it was announced that Ticketmaster is offering all event organizers the ability to offer event tickets as collectible NFTs. In November, the ticketing firm launched a deal with the National Football League (NFL) to offer collectible NFTs. Ticketmaster says it has minted five million NFTs on the Flow blockchain.

The Flow blockchain was initiated by Dapper Labs, which also has a relationship with the NFL for minting video moments as NFTs, NFL All Day. It’s very similar to its hugely popular NBA Top Shot.

“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale,” said Brendan Lynch, Ticketmaster EVP of Enterprise & Revenue.

Earlier this month, we predicted that Ticketmaster was planning an NFT expansion  after a job posting for an NFT-related role that reports to the ‘General Manager of NFT Ticketing’.

So far, Ticketmaster is solely interested in the collectible aspect of NFTs as opposed to the potential to use blockchain technology for anti-counterfeiting. It is part of the Live Nation group, and in a statement last year, the CEO Michael Rapino said, “Knowing who sits on that seat, who is actually coming to the venue, having a communication directly with them, having a verified ticket, being able to trade that ticket, putting rules on that ticket. We currently do that now.”

However, another NFT expansion is easy to predict, and Dapper is the most likely partner. That’s for video moments of live events, including for all the music concerts that Live Nation manages. 

In the same earnings call, Rapino said, “We’ve all learned from Top Shot at the NBA. So we envision Live Nation with the marketplace and looking at some of the concert moments as magic moments that we could mint and attach to our ongoing ticket festivals and special moments.”

Image Copyright: sidorovstock / 123rf