Ticketmaster Entertainment has recently made an announcement surrounding the distribution of non-fungible tokens (NFTs). The ticket marketplace giant has announced that the event organizers will have access to minting NFT tickets.
Ticketmaster Collaborates with Flow Blockchain
Ticketmaster has announced that it will allow event organizers to acquire NFT tickets. The platform has confirmed that it has collaborated with the Flow blockchain in order to achieve its goal.
It is the Flow blockchain that will now facilitate Ticketmaster to issue and distribute NFT tickets to the event organizers. This means that the attendees will be able to purchase NFTs instead of physical tickets to gain access to events.
Previous Announcements by Ticketmaster
For a while, Ticketmaster had been teasing the adoption of the crypto-blockchain technology. The ticket giant announced that it was specifically interested in the NFT segment of the cryptocurrency industry.
Back in November, Ticketmaster announced that it was working in collaboration with the Polygon teams to gain exposure in the crypto-blockchain technology.
However, it seems that the ticket marketplace giant has switched its collaborators since November of 2021. A few months back, Ticketmaster Entertainment announced that it has collaborated with the Flow blockchain developers for a particular purpose.
The Flow blockchain is managed through Dapper Labs.
Tickets Minted by Ticketmaster
The sports business journal has recently shared a report surrounding the NFTs minted by Ticketmaster. The platform announced that more than 5 million non-fungible tokens have been minted by Ticketmaster.
Using the Flow blockchain, the event organizers will be able to interact with the Polygon blockchain via Ticketmaster’s platform to issue NFT tickets.
Through the blockchain, the organizers can issue NFTs for the purpose of memorabilia. The tickets can be issued prior to, during, or after the event has taken place.
So far, multiple organizers have issued NFT tickets interacting with Ticketmaster’s access to the Flow blockchain.
Some of the most notable clients include Gavin DeGraw, the Apollo Theater, and The Black Crowes.
The first time Ticketmaster issued the NFT tickets was for NFL. The firm announced that they had issued Super Bowl LVI NFT tickets for the particular purpose.
It was back in February when Ticketmaster issued the Super Bowl tickets and at that time, many thought they would be issued through the Polygon blockchain.
However, Ticketmaster confirmed that the tickets were issued through the Flow blockchain.
The recent announcement by Ticketmaster has helped push the trading price of the FLOW tokens at a significant rate.
As per data from CoinMarketCap, the trading price of FLOW has experienced a 6.72% in the past 7-days. At the time of writing, FLOW’s trading price is at a high of $1.94 per FLOW.