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Top NFT News: Ticket Marketplace Giant Ticketmaster Chooses Flow Blockchain for NFT Push

01-Sep-2022 By: Rohit Tripathi
Top NFT News: Ticket

This week, Ticketmaster Entertainment, Inc. announced that it would let event organizers to mint non-fungible token (NFT) tickets using the Flow blockchain.

Last November, Ticketmaster said it was working with Polygon, but since Super Bowl LVI, the ticket sales and distribution behemoth has begun working with the Dapper Labs-managed Flow.

On August 31, 2022, a local media outlet report detailed that Ticketmaster will allow event organizers to issue NFTs utilizing the Flow blockchain. Organizers will be able to mint NFTs before, during, or after an event, and they will be able to represent tickets or memorabilia, as well as VIP access and awards. As per the report, the ticketing agency has already issued 5 million NFTs over the Flow network.

The Black Crowes, the Apollo Theater, and Gavin DeGraw are among the clients who have issued NFTs. Ticketmaster first stated that it would utilize Polygon, but in February the world's largest ticket marketplace changed its mind and elected to employ Flow for Super Bowl LVI NFT tickets.

Flow already has a collaboration with the NFL via the "NFL All Day" NFTs. Furthermore, the Flow managed by Dapper Labs was used to mint "NBA Top Shot" NFTs and "UFC Strike" NFTs. Additionally, NFL game attendees can purchase Flow-issued NFT tickets for over a hundred games beginning in the 2022 season.

According to all-time statistics from an NFT data aggregator, the Flow blockchain ranks fourth among 19 distinct blockchains in terms of NFT sales. As per data, the Flow blockchain has totaled $1,098,215,401 in NFT purchases. According to 30-day statistics, Flow is the fifth-largest, just below Immutable X, which has increased 417% in the last month.

Flow also revealed the Ticketmaster deal to Live Nation fans on Wednesday through Twitter. "Exciting news for fans of live events," Flow stated. Ticketmaster event organizers may now give digital souvenirs minted on Flow. 

The company continued: “Activate access to prizes and experiences. And that's not all: Ticketmaster is empowering event organizers to improve live experiences for fans by allowing them to share their experiences online, never lose a ticket to a performance they enjoyed, find new ways to reward communities, and enjoy VIP experiences.”

Read also: Japan Considers Relaxing Tax Rules For Cryptos

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