NFT Ticketing Leads the Way for Adoption
Source: Nftplazas / Takoni Uti
Over the years, there has been endless debate about the various applications of blockchain technology and how it will be harnessed. As NFTs enter the limelight, the debate continues.
Currently, one of the top contenders for NFT application is ticketing. It’s a billion-dollar industry with global potential for NFT integration, highlighted by TicketMaster’s recent acquisition of a blockchain firm and formation of an NFT team. However, recent pandemonium at Ticketmaster, by which Arctic Monkeys fans faced 10x ticket-tout inflation following a botted sell-out, simply showcases that NFTs alone are not the solution. So what is?
A Seamless Solution
A British blockchain startup is developing a seamless solution to both protect genuine fans from the likes of ticket touting, fraud, scams, and ticket inflation, as well as provide companies with the software infrastructure to embrace digital tickets.
BPM Wallet subtly introduces the benefits of blockchain to the ticketing world without the end user even realising. An underlying layer of sophisticated software allows BPM Wallet to harness the XRP-Ledger for lightning speed, cost effective, and energy efficient transactions, all within an easy to navigate in-app ecosystem.
As major players begin to dip their toes in the Web3 ocean, a plug and play software solution makes for a seamless transition from Web2 to Web3. BPM Wallet welcomes industry leaders to its dashboard, enabling businesses with an instantaneous solution for blockchain-based ticketing.
According to BPM co-founder Kelvin Rolf: “We plan to integrate into existing systems, so that primary ticketing merchants will be able to plug our software in and distribute their tickets as tokenized tickets to BPM Wallets user’s”.
Furthermore, BPM Wallet stops scalpers and touters in their tracks by imposing a face value maximum resale price on tickets, as well as KYC simultaneously enhancing fan and vendor security. Combine this with enhanced event experience in the form of memory mementos, by which users NFT tickets transform into NFT collectables after they’re redeemed.
This modern upgrade to the classic ‘ticket stub in a scrapbook’ practice will usher a new dawn of user engagement, truly blending the old with the new.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.