Why Is NFT Ticketing the Future of the Ticketing Industry?

NFTs will take center stage in 2022. They have established themselves as a major market segment in the crypto industry, with more than $20 billion in trading volume and mainstream participation from all corners of the world. NFTs have now become a market-expanding technology. So, it is no longer limited to art or any type of digital collectible. Its true ownership and non-fungible characteristics enabled multiple use-cases in the real world. Among many innovative use-cases of NFTs, the one that stands out and can immediately make a global impact is ticketing in the music industry. For years, the music industry has been stagnant, with incremental improvements that made no significant impact on artists and the music landscape as a whole. In addition, the music ticket market is fragmented. Only a few handful companies control the market by scalping and using bots to scoop up tickets at low prices and benefit from the arbitrage. This creates a multi-billion dollar secondary market where fans have to purchase at exorbitant prices and still face uncertainty whether they will be allowed to an event. To escape from this centralized system and give back control to artists, it is essential to incorporate NFT ticketing at scale. How Can NFTs be the Game-Changer For starters, NFTs provide fans and artists with a special experience in the digital world. NFT tickets can’t be destroyed and due to their unique nature, they can easily be showc...