NFT Ticketing System: All You Need to Know
Tags: writing, blockchain, tutorial
Published: 2022-11-16 13:18:37

The OG year for the entire crypto and NFT space was 2021, hands down. NFTs alone reached a massive $22 billion market size compared to $232 million in the previous year attracting eyeballs from the everyman to the celebrated. One good example is the popular Grammy-winner and American Rock Band, [Kings of Leon](https://kingsofleon.com/), which released three NFT collections to support their album “When You See Yourself” last year. Another example could be the football club, Dynamo, which released NFTs tickets on the Binance NFT marketplace for their 2021 season. 

So coming back to the Kings of Leon NFT collection, out of the three, two NFTs contained an audio recording and a limited-edition album cover & vinyl, whereas, remarkably, the third one was a golden NFT ticket that could be used as an actual concert pass to the musical band’s shows for a lifetime with assured four front-row seats. The golden ticket holders also acquired a few other interesting perks, such as concierge, personal pick-and-drop drivers, access to exclusive merchandise, and personal interaction with the band. Now that’s crazy, right! 

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/wxbjoxlpnn92ge22rl9v.png)

But, in case you’re scratching your head wondering, “what are NFT tickets?” then don’t fret. [Follow our in-depth guide](https://revise.network) below to uncover everything you need to know about the NFT ticketing system. 

**_> Moreover, you can[ register to our FREE Webinar ](https://app.livestorm.co/revise-network/web3-in-30-mins-or-future-of-nft-tickets-is-dynamic)where we present the step-by-step to build and manage NFT tickets. Happening on Thursday, 17 November 2022 at 6 PM IST - https://app.livestorm.co/revise-network/web3-in-30-mins-or-future-of-nft-tickets-is-dynamic_**

Let’s get right to it! 

## What is NFT Ticketing? 

To give a quick rundown, NFTs are non-fungible tokens that represent digital assets stored on blockchain technology. Most people think of NFTs as just digital art like BAYC, CryptoPunks, etc. However, it’s much more than that. Real estate, digital collectibles, supply chain, and gaming are among a few industries where NFTs could be seen adding more value to their working operations. And just like that, ticketing is yet another sector NFTs are disrupting. 

NFT tickets are exactly what they sound like: tickets in the form of non-fungible tokens which underlie blockchain technology. Unlike an artwork NFT, NFT tickets are specifically used to hold one’s credentials to an event or a show. 

## NFT Ticketing System - Is It the Future?

Digital tickets have replaced paper tickets, whereas NFT tickets have surpassed the digitization of tickets, which is, by the way, vulnerable to internet attacks. Users can simply carry their NFT tickets in their web3 wallets - MetaMask, Trust Wallet, etc. - and use them without fearing their tickets getting stolen, lost, or damaged. 

Here are some of the few other challenges it solves: 

# Prevents Counterfeits

Counterfeits or forgery are pretty normal with paper tickets or the QR codes that users get in the email, as they can be easily faked. Additionally, most of the time, scammers use a pool of bots to buy tickets online and later sell them on third-party platforms at an inflated price, also known as black marketing or scalping. With NFT tickets, users don’t have to be anxious about the ticket’s legitimacy as their transactions get stored on blockchain technology. Hence, validating the ticket’s authenticity becomes a breeze for users. 

# No Further Value
 

Paper, or digital tickets, for that matter, are usually the use-and-throw thing. They don’t have any further value and can’t be used again for any purposes, which, however, is not the case with NFT tickets. The non-fungible tickets open additional revenue streams for its holders, artists, and event organizers as well. For instance, if a user trades their ticket on a secondary marketplace, the artist may also get a portion of the resale revenue if they’ve programmed their NFT tickets to work this way. 

## Major Brands Powering Themselves With NFT Tickets

The concept of NFT ticketing might not be mainstream right now, but it’ll certainly be with time. Many brands/artists are already leveraging this invincible technology to create a robust and risk-free environment for users to own the passes to a certain event. And yes, let’s not forget how NFT tickets are a great way to expand revenue opportunities and can even be used as rare collectibles. 

The 2024 Paris Olympic Games, for example, would be seen using blockchain-powered tickets as the French government’s envoy, Michel Cadot, has already proposed the idea to their Prime Minister. Aligned with the same vision, the 2023 Rugby World Cup can also be seen implementing the same technology.

Moreover, in 2018, Shankai sports, an international company based in China, partnered with AlphaWallet to facilitate the sales, and distribution of FIFA World Cup tickets. This idea was to make the ticket distribution more secure for the event and eliminate fraudulent activities. 


![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/z82hb23vcbi6mf8pun6v.jpg)

Besides that, one of the world's most popular music and arts festivals, Coachella, also announced the launch of Coachella Collectibles NFTs in Q1 of 2022. They launched 10 keys (or passes) that granted users lifetime access to their festival and 1,000 NFTs as Coachella photo books. Not just that, Coachella also introduced 10,000 NFTs for unique soundscapes and fan-favorite photos from the event, priced at $60/piece. 

Moving on, independent musicians/artists or group bands are also utilizing NFT tickets for their live shows and events. For example, pop artist, Pip, released Cotton Candy NFTs as a part of its crowdfunding campaign and sold out “Gold Backstage Pass” within just 24 hours of its release. 

NFT tickets are already prevalent in the music industry bringing in a lot of perks for artists and NFT holders as well. So, in that light, let’s discuss what NFT tickets offer to the guests and event coordinators. 

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/gqd79zhlsnptwujn31oo.png)

NFT Tickets as Unique Collectables

NFT Tickets are more than just a one-time use thing. Due to their rarity, users or the event guests can acquire them as collectible items, coins, or even stamps. This is a great way to showcase rare art - both physically and virtually (in the metaverse).  

# Reselling Tickets

NFT tickets can easily be sold at secondary marketplaces if you can’t go to an upcoming event for any reason. Also, as NFT tickets are secure and can’t be forged, they can be sold at the same price the ticket was bought in the first place, or even higher, depending on the popularity of the event/artists. 

# Creating Aesthetic NFTs 

Event coordinators can sit around with artists to infuse aesthetics into their NFT tickets. This way, they can increase the chances of selling the tickets at a relatively higher price. For example, instead of using an uninteresting random image for an NFT ticket, a musician can take its album cover, tweak it around with creativity, and attract more people towards it. Not to mention, the selling and distribution of NFT tickets to consumers can be better tracked than regular digital tickets. 

## NFT Ticketing and Dynamic NFTs

Dynamic NFTs are the next iteration of Static NFTs, also known as the ERC-721 standard. Even though the ERC-721 is the most used standard on the Ethereum blockchain, Dynamic NFTs are here to change that with their multiple use cases. One main aspect that differentiates non-fungible tokens from ERC-1155 tokens (Dynamic NFTs) is that they are dynamic, meaning, they can change over time as per the external parameters, which is done by programming the NFT’s smart contract. 

Now, can Dynamic NFTs be used as NFT tickets? Absolutely. In fact, it’s better than the ERC-721 standard in so many aspects that it’ll completely transform the NFT ticketing system. Here’s how ERC-1155 will take the ticketing industry to the next level: 


## dNFTs are Programmable Unlocking Multiple Possibilities 

A Dynamic NFT can be used as both a ticket and a rare collectible. By virtue of its dynamic nature, it can be programmed like a ticket at first, and then its metadata can be coded to work as a unique collectible, or anything really - like they say, the sky's the limit. 

# Revenue Sharing

Event organizers/artists may decide to share a percentage of their event’s revenue with their ticket holders using Dynamic NFTs. The same NFT can evolve from being a ticket to being a revenue-sharing smart contract.  

# Dynamic NFT Tickets as Marketing Tools
 
dNFT tickets can be programmed to evolve based on users' interactions like completing certain tasks, interacting with artists, etc., and finally acquiring, perhaps, a predetermined trait that unlocks rewards for the users. That way, users get more reasons to complete certain quests attached to brand promotion. On the other hand, Dynamic NFT tickets can help event organizers track and receive foolproof data of promotional activities performed by the audience members. 

## To Sum Up

NFT tickets are undoubtedly the future of the ticketing industry, and their mainstream adoption is pretty inevitable. The music and entertainment industry is already stepping in where everyone - from the artists to the guests - gets incentivized, which was not possible with paper, or even, regular digital tickets. In fact, it solves some major challenges associated with traditional tickets, such as fraud, tickets getting stolen or damaged, and a lot more. 

Not just that, but the ERC-1155 standard, which is the Dynamic NFTs, can be a complete game-changer for the ticketing industry, as we already saw in the above section. If you’re looking for ways to create your first Dynamic NFT, follow this guide. You can also try our free simulator that allows changing the properties, images, and automating your NFTs with ease. 

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