#NFTs, what are they? What do they do? The old age question asked by anyone who isn’t involved in the web3 world. Something will soon bridge that digital gap, NFTs will become the ‘norm’ and the time will come when we don’t remember a world without them.
Tickets are, arguably, the most straightforward and least offensive way to introduce NFTs. People used to queue for hours in the street to get tickets. Flashback to the '60s, it's mid-October, and the rain is lashing down, but, in two days' time, The Beatles tickets go on sale. Queues reach 1.6km long, but in the rain, we stand and wait because we NEED those tickets. Back to the present day, technology has evolved and, now, we sit in digital queues. Time has made this seem the norm. Will this be the case with NFT tickets?
Fraud and scams plague the ticket industry, with many people falling victim to buying fake tickets or purchasing tickets at an inflated price on the secondary market. Blockchain technology helps combat this by verifying ownership and authenticity. Bands or events also have the ability to reward loyalty, offering tickets first to fans who have registered their digital wallets with them previously.
According to GME, NFTs in the ticketing market are expected to grow at a CAGR of 14.5% from 2023 to 2028. There are, of course, mitigating factors that will affect this growth. [1]
Having the knowledge and understanding of both Cryptocurrency and digital wallets is one of these factors.
@tokenproof &
@GetProtocol have already kicked down some of the roadblocks customers used to face when wanting to get involved in NFTs. They’ve created a user-friendly experience where customers don’t need to have any knowledge of Crypto, or of setting up digital wallets, but instead are able to transfer the NFTs straight into a custodial wallet (a wallet managed for you by experienced professionals). People are able to pay with their credit cards, instead of having to buy ETH - a key factor as investing in Cryptocurrency is something that immediately puts fear into a number of people. In turn, it makes the process of buying NFTs - tickets, in this case - less daunting and accessible for everyone.
NFTs have given us the power to revolutionise how we create, buy and sell tickets. There are many benefits to the technology for consumers and organisers alike. It’s just a matter of adoption.
[1]
globalmarketestimates.com/ma…