Many people thought that NFTs were going to fall out of the trend in the past months. Instead, NFTs are truly entering a "renaissance." This new generation of NFTs could change many different industries, starting with event tickets.
Main Takeaways
NFT tickets are digital access credentials that offer holders exclusive benefits at the event they attend.
NFT ticketing can help address various problems associated with traditional ticketing systems.
In addition, they can also help build stronger relationships between the club, the players and their fans.
When NFTs were first shown to the public, they were little more than a few lines of code associated with a JPEG image or various imaginary mascots. With the new NFTs, it is now easier to show customers why they are useful and important. When we say new NFT, we mean NFT Tickets. These utility NFTs have taken the blockchain world by storm. Memberships range from Boring Monkeys that can be used as cards to NFTs that can be exchanged for special rewards.
CEO of SKAUT Adil Huseynzada says that, "NFT tickets are one of the interesting experiments where technology is used in a new way". Following the problems caused by counterfeit tickets at the UEFA Champions League 2022, UEFA reminded fans of the ticketing process and the dangers of buying tickets on the secondary market, reminding the world to rethink ticketing.
NFT Tickets in Azerbaijan football
Of course, Binance and similar companies have started offering NFT Tickets, right at SKAUT. As SKAUT, we presented these proposals to football clubs in Azerbaijan around the beginning of May 2022. At that time, we could not bring any example for this matter. To convince the clubs, there was no team in the world that had done it. But later, famous clubs such as PSG and Lazio brought this innovation to the sport, and so to speak, Azerbaijani clubs did not manage to be the first here. The goal here is not only the entrance to the match, but also the creation of a new fan culture. This will be a new fan engagement experience. We realized that we are on the right track in this example. With the growth of blockchain technology and Web3, clubs, football players, and fans have the opportunity to see the ticketing system shift in their favor with the help of NFTs.
How much are NFT tickets worth
From the user's point of view, NFT tickets work almost the same as regular digital tickets. Those who have tickets just need to scan their phones and enter the event they want to attend. What sets an NFT ticket apart for the user is what happens after the event ends. The seasonal and monthly NFT Tickets we offer include the club-fan community behind it, live player meetings (post-match showdowns) and special gifts from the club. The last thing we mentioned is the most important factor that makes NFT valuable. We've always seen the value of NFT in the proposition it will offer fans behind it.
But the purpose of NFT tickets is not only to make things easier for customers. They have security features for both customers and event organizers that are not possible with other ticketing methods. Blockchain technology's built-in security features will answer many of the questions people on both sides of ticketing transactions have about the security of their tickets. Getting a digitized ticket can lower your chances of misplacing your ticket, but QR Codes can be easily forged and don’t offer much in terms of memorabilia. A situation like this is where an NFT ticket would really come in handy for a fan. NFT tickets are digital assets stored on a blockchain, so the risk of your ticket getting lost, stolen or damaged is relatively low. Plus, NFT tickets can become valuable collectibles, acting as lasting memorabilia.
So it may come as no surprise that NFT technology can help solve the inefficiencies faced by the legacy ticketing industry. From addressing the shortcomings of paper tickets, rewarding fans with exclusive perks, and even acting as an additional layer of security for events – NFT tickets have the potential to transform the ticketing landscape for all parties involved.