The global provider of event ticketing services, Ticketmaster, has launched “token-gated sales,” allowing fans to purchase concert tickets using non-fungible token (NFT) technology. The first band to use the service is Avenged Sevenfold (A7X), whose “Deathbats Club” NFT collection granted customers early access to the group’s Los Angeles and New York City gigs. Following the ticket sales, Ticketmaster stated it had developed and launched a token-gated solution for the next A7X performances.
Ticketmaster Introduces NFT-Powered Token Sales For Exclusive Concert Access
The metal band Avenged Sevenfold (A7X) is the first group to test out Ticketmaster’s new NFT-gated ticketing service, which was announced on March 27. A press statement announced that Ticketmaster had expanded its NFT capabilities by introducing a feature that allows artists to offer token-gated ticket sales. This means that a specific NFT can only unlock access to a ticket sale.
Previously, the band A7X had offered an NFT collection called “Deathbats Club,” where the NFTs gave their owners exclusive access to purchase tickets for shows in Los Angeles and New York ahead of the general public. Working in partnership with the team Bitflips, A7X collaborated with Ticketmaster on this feature. Ticketmaster, in turn, developed and launched the token-gated service, allowing A7X’s fan community to gain early access to tickets for upcoming shows.
According to David Marcus, Ticketmaster’s EVP of Global Music, the recently launched service enables artists to provide special access and rewards to specific fans, strengthening their connections with them. He also stated that artists such as Avenged Sevenfold are leveraging Web3 and NFTs to cultivate deeper relationships with their fans. Ticketmaster is pleased to support this endeavor by facilitating live events.
Ticketmaster’s aim to experiment with NFT technology has been known for some time. The event ticketing company revealed in August that it utilized the Flow blockchain. The firm noted on Monday that the token-gated sale service is one of several tech alternatives that artists might employ to distribute tickets to their followers. The firm highlighted that their token-gated sales are compatible with Ethereum and Web3 wallets such as Metamask and Coinbase.