Leading ticketing company Ticketmaster partners with heavy metal icons Avenged Sevenfold to introduce a new NFT ticketing feature, bringing token-gated tickets to a much wider audience! This feature allows artists to offer special access to concert and event tickets for eligible NFT owners.
Ticketmaster x Avenged Sevenfold: Grab Your NFT Tickets!
Ticketmaster announced the launch of its Ethereum NFT token-gating feature earlier this week, which is now live for artists. This development is in collaboration with the quintessential metal band Avenged Sevenfold. The metal band also has its own Deathbats Club NFT collection. The band has already tested the token-gating feature ahead of the full rollout.
In the case of Avenged Sevenfold, owners of the 10,000 Deathbats Club Ethereum NFTs gained early access to purchase tickets to the band’s upcoming New York City and Los Angeles arena shows in June. According to frontman Matt Sanders (M. Shadows), around 1,000 tickets were purchased with the NFT-gating feature between the two shows. Moreover, the feature was then expanded to 13 more A7X tour dates, with tickets selling hot!
Ticketmaster developed this feature in partnership with the band and its Web3 team, Bitflips. Bitflips specializes in creating artist-centric NFT projects. Sanders revealed that he first met David Marcus, Ticketmaster’s EVP of Global Music, at last year’s NFT LA conference. This discussion ultimately led to the creation of the token-gating feature.
The world of Web3 communities has also seen a growing use of non-fungible tokens (NFTs) as access passes for digital spaces and live events, offering exclusive perks to token holders. A7X and the Deathbats community already prove the benefits to this new wave of ticketing.
How NFT Tickets Help Artists
Ticketmaster’s move toward token-gating is not surprising given the increasing popularity of NFTs. It also exemplifies the growing interest in blockchain technology. This shift towards a more decentralized and transparent approach to ticketing potentially reduces fraud and eliminates scalpers. This in turn benefits both artists and fans for a more efficient music experience.
In conclusion, Ticketmaster’s new feature bridges the gap between artists and their core fans toward mainstream adoption of token-gating. It is an innovative use case for NFTs in the music industry. Moves like these drive adoption of blockchain technology and also create new revenue streams for artists.
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