NFT ticketing is akin to having a virtual wristband accessible via your phone. Minted on a blockchain, NFT tickets represent digital admission passes for festivals, conferences, concerts, or any other community events. NFT tickets are stored in a crypto wallet.
NFT ticketing is not unique to a single blockchain or category. It can be used across different industries and experiences. For instance, an NFT ticketing solution can be used for a concert, a business networking event, or gaming conference.
You’re probably familiar with the routine of scanning QR codes for event entry. On the surface, NFT ticketing may appear to be more of the same, but there’s a twist. An NFT ticket isn’t just another forgettable code; it’s actually connected to a digital proof of ownership that’s stored on the blockchain. So while the scanning process may seem similar, behind the scenes your ticket is actually an undeniable and secure record. This upgrade unlocks interesting new possibilities for fans.
While event planners have found it convenient to use Proof of Attendance Protocols (POAPs) to give eventgoers a special token for attending live events, NFT ticketing is the first pre-event solution of its kind. The widespread adoption of NFT ticketing is still underway, but initial case studies demonstrate its potential to make the live event experience a lot more secure and even more fun.
By using a blockchain to track the ownership and movement of an NFT ticket, it’s possible to establish a clear and verifiable record of the authenticity and provenance of the NFT. This can help lessen the likelihood of scalpers or fake tickets being sold for events.
With traditional ticketing, a QR code or paper printout may be quickly discarded once it has served its purpose of getting people into an event. But with NFT tickets, the fun doesn’t have to end once the show is over. Digital items can remain in a person’s crypto wallet for as long as they decide. Creators or hosts can announce added perks for anyone who holds the digital item once the event concludes, giving fans a new way to connect, attend special meetups, join online communities, buy upcoming merch drops and more.
A smart contract's history, ownership, or protocol cannot be erased or deleted. Any change made to an NFT ticket’s smart contract occurs only after independent nodes (i.e. computers) reach consensus on the blockchain to verify the change. An NFT ticket, therefore in many ways, is more secure than a QR or PDF ticket because there is a record of ownership.
Blockchains serve as the distributed filing system that store NFTs. You can use an NFT-compatible crypto wallet to access your NFTs, and you can view them on OpenSea once you’ve connected your wallet. OpenSea is compatible with multiple wallets. An easy way to remember the role a crypto wallet plays is to think of it as your unique address on the blockchain — it allows you to send, receive, and store items.
NFT tickets are used to gain access to events of all sorts. NFT tickets make it easier for true fans to get a ticket to a favorite band’s concert or a 1:1 conversation with their favorite social media follow.
The implementation of NFT ticketing is still relatively new, but its potential is growing as the technology evolves.
In 2021, Mark Cuban stated that the Dallas Mavericks are exploring using NFT ticketing for their basketball games. NFT ticketing platforms like YellowHeart have partnered with bands like Kings of Leon (to launch their album experience) and Maroon 5 to launch a DAO where each ticket holder can vote once on what environmental community effort the DAO’s funds will support.
On OpenSea, you’ll find NFT ticketing examples like Gary Vee’s VeeCon, a multi-day superconference. As ticket holders, users gain access to the in-person conference as well as additional activations throughout.
You can find NFT tickets across all of OpenSea’s NFT sections. The easiest way to keep an eye out for your favorite festivals, musicians, or live events is to follow those individual events across their social platforms or email newsletters, the same way you would to get traditional tickets for an event.
Once you’ve found an event that offers NFT ticketing and you’re looking to purchase, you'll need a crypto wallet and cryptocurrency (or, in some cases, just a credit or debit card). Using OpenSea, you can instantly buy items listed for sale, bid in auctions, or make offers on NFTs.
In web3, the term “gas fee” refers to the payment needed to execute transactions on the blockchain. OpenSea doesn’t control gas fees, set gas fees, or receive any of the gas fees incurred by users on the platform. Instead, they all go to network validators or miners. When you start the NFT purchase process using OpenSea, you’ll see the gas fee broken down by your wallet provider, so you can watch the fee refresh and complete the transaction when it’s low.
NFTs operate on blockchain technology, making it possible to verify their ownership and easily transfer them from one owner to the next. Ethereum, Solana, and Klaytn are three examples of blockchains that store NFTs.
A blockchain is a digitally distributed ledger that records transactions and information across a decentralized network. Most blockchains are verified by many nodes , which is why you’ll hear them described as “decentralized.” Different blockchains may verify their transactions using different methods but ultimately operate similarly.
Blockchain technology allows users to easily transfer, collect, and verify their membership NFTs. This ability to trace the origins and history of an NFT is referred to as “provenance.” The provenance of an NFT ticket is one of its biggest advantages, particularly for culturally significant or memorable ticketing experiences. Similar to saving a band t-shirt or the ticket stub from your favorite concert, NFT tickets are predicted to serve as a digital track record of sentimental moments.
Web3 technology is still new and constantly evolving, so while no single action guarantees protection, there are best practices that can help. The best rule of thumb is that if something looks too good to be true, it probably is. Never share your wallet’s seed phrase, be careful when taking actions using your wallet, and make sure to thoroughly evaluate NFTs before buying.
OpenSea also has an icon visible via a blue checkmark badge on a collection or account. A blue checkmark badge on an account means that account has been verified for authenticity by OpenSea. A blue checkmark badge on a collection means the collection belongs to a verified account and has significant interest or sales. (OpenSea does not endorse verified accounts or badged collections, and OpenSea makes no representations regarding the NFTs in a verified account or badged collection.)
OpenSea makes no representations or guarantees regarding the collections highlighted in this article. Users must do their own research and use their own judgment before buying any NFT, including those included in the collections highlighted in this article. The descriptions of the collections highlighted in this article were adapted from descriptions provided by the NFT creators, not OpenSea.
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