Live events effectively disappeared from the planet for about two years. This summer they have rebounded with gusto, as evidenced by successes like Collision, driven by pent-up demand for a return societal normalcy.
Of course, two years is a long time for tech to stay quiet. So you may notice some changes to the live event norm moving forward: one is non-fungible tokens.
Ticketmaster will be leveraging the Flow blockchain created by Vancouver-based Dapper Labs to develop NFT-based offerings—including the ability for organizers to issue non-fungible tokens before, during, and after live events, according to a recent statement from the Canadian company.
Ticketmaster is familiar with Flow already, having utilized the blockchain for “virtual commemorative tickets” to celebrate Super Bowl LVI. The NFL says will continue to push NFT projects with both Ticketmaster and Dapper involved.
Regardless of the sport or other live event, the BC crypto startup-to-watch believes this latest development will offer organizers “an entirely new way to engage with fans attending their events,” citing perks like unique loyalty rewards and VIP engagement opportunities.
This concept draws parallels to Shopify’s vision for “token-gated commerce.”