Ticketmaster Launches NFT Tickets on Flow Blockchain

According to Flow, the digital engagement layer-1 blockchain created by Dapper Labs, Ticketmaster has unveiled nonfungible tokens (NFTs) as tickets for event organizers, all minted on its blockchain. These NFT tickets primarily serve a commemorative value, acting as virtual keepsakes for attendees while also serving as proof of attendance at notable concerts.

Importantly, the NFT tickets themselves do not grant entry to events; attendees still need to present a purchased ticket with a barcode from Ticketmaster or Live Nation for access. In making the decision to use the Flow blockchain, Live Nation emphasized the eco-friendly nature of the technology, claiming that creating an NFT on Flow uses less energy than conducting a Google search or posting on Instagram.

The feature allows users to send NFT tickets to others via email or QR code using accounts on the Ticketmaster/Live Nation website, which also supports wallet addresses. This service has been gradually rolled out as part of a pilot test program over the past six months, focusing on issuing NFTs as memorabilia for specific events.

As of the announcement, over 5 million NFTs have been minted on the Flow blockchain through Ticketmaster’s initiatives. Additionally, on August 4, Mark Zuckerberg, CEO of Meta, announced that Instagram expanded its NFT support to over 100 countries, with all NFT collectibles posted on the platform being minted on the Flow blockchain. This week, Meta has also unveiled new NFT integration for Facebook, allowing users to showcase their digital wallet collectibles.

In October of last year, Filecoin, a decentralized file storage ecosystem, was announced as Flow’s official storage collaborator to further enhance the blockchain’s capabilities.