• Tue. May 28th, 2024

Ticketmaster Teams Up with Avenged Sevenfold for Ethereum NFT Token-Gated Ticketing

Megan Ford

ByMegan Ford

Mar 29, 2023

Ticketmaster, the leading ticketing company, has recently faced challenges due to bot activity, long wait times, and scalping. To combat these issues and improve the overall ticket purchasing experience, Ticketmaster has partnered with the famous heavy metal band Avenged Sevenfold to launch an ETH NFT token-gating innovation.

Ticketmaster’s partnership with Avenged Sevenfold and the ETH NFT gating feature launch is a significant development for the ticketing industry. The feature promises to enhance the ticket purchasing experience and create a more secure and efficient ticketing system.

The success of the Deathbats Club NFT collection test is a positive sign, and fans can look forward to more exciting developments in the future. After issuing over 4.8 million NFTs as commemorative tokens for a main event such as the Superbowl, this will be the first time for Ticketmaster to offer token-gated integration for direct ticket buying.

No glitch has been recorded since the start of Ticketmaster token-gated sales for tokens held in dApp wallets such as Metamask and Coin base and minted on Ethereum. Many fans have used the feature to buy tickets for major events.

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How it works

Tickets will be given to a wallet connected to the NFT, giving the fans a chance to transfer the ticket to another wallet if required by the user. Ticketmaster will guide its users to link their wallets to verify NFT ownership, after which the buying process will remain the same.

The token-gated feature emphasizes clarity in the ticket-buying experience and increases safety for the users. As this is only a trial feature, the demand may grow, forcing Ticketmaster to include other artists and expand. The NFT will provide the fans with only access to digital keepsakes.

 NFT Strides in the Music Industry

To combat bot activity and scalping activity in the live event industry, Ticketmaster generated token-gated ticket sales through the NFT. This feature will allow fans to have exclusive digital memorabilia linked to the event attended. The program is set to offer more fairness and transparency in purchasing tickets for live events.

With the partnership with Avenged Sevenfold, Ticketmaster offers fans a safe platform to buy tickets at reasonable prices with a chance of having a digital collectible connected to the event.

Deathbat Club Prices Surge

As they launched their ticketing trial plus the release of the new album and the ARG that included an NFT mint, the prices for the Deathbats Club NFT increased. The NFT listed that it has doubled in the past month, reaching its record high of more than 0.16 ETH. This increase represents a significant increase from their initial price and demonstrates the growing interest and demand for this unique collection.

The success of the Deathbats Club NFT collection highlights the potential of NFTs in the music industry. By providing fans exclusive access to merchandise and events, NFTs offer a new and innovative way for artists to engage with their fans and monetize their content.

About Ticketmaster

Ticketmaster was founded in Arizona Phoenix by two college students named Albert Leffler and Peter Gadwa in 1976. Its primary purpose was to sell tickets for theatre productions, sports events, and concerts.

With Ticketmaster diving into blockchain technology to improve its services, it will see a tremendous shift in how it operates and offers services to its users. This shift will mean blockchain technology is advancing in all industries, and its value will continue to skyrocket.

Megan Ford

Megan Ford

Megan Ford is an accomplished news writer with a talent for capturing the essence of a story. With a keen eye for detail and a dedication to accuracy, her articles provide readers with a captivating and well-rounded perspective on current events.

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