. While some of the festival NFTs offered real-life opportunities, such as access to a VIP lounge at New York's Governors Ball, none of these NFTs function as an actual ticket — i.e., allowing owners access to the actual event.
Using NFTs for ticketing also means that scalpers, long a bane for eventgoers, will see their margins shrink on two levels. The first is the implementation of smart contract technology into tickets, meaning that a cut, likely around 10%, of any resell will go to the artist and/or venue. The second is the ability to limit resale amounts within the NFT ticket marketplace, cutting into scalpers' margins.
VIP+ reached out to several entertainment brands active in the NFT ticketing space who echoed the community sentiments. MGM Resorts International’s SVP of Digital Product & Design Excellence, Andrew Machado, told VIP+ that NFTs will help to provide engaging experiences to guests, both before and after events.
This is a terrible graph.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BTCTN - 🏆 531. / 51 Read more »