What is ‘special’ about these NFTs, especially from a business’s perspective?
Using NFTs as tickets for an event can create many streams of value, whether for the event itself, ticket holders, or partners involved. Here’s why:
#1 Proof of attendance
In significant events like Glastonbury Festival, ticket holders must verify their ID with a system to get a physical (with image) ticket to prevent fraud and invalid passes and control the audience’s overall safety.
If the said event used NFTs, their ticketing system might be improved since ticket holders can verify themselves with a simple swipe on their phones, making the experience smooth while remaining efficient regarding the event’s safety policies.
#2 Utilities for holders & Marketing values for partners
The sponsors/ partners are the hearts that pump the event’s energy and the organizers. They play a massive part in shaping what kind of experience a specific event will provide. What the event can do to increase the utilities for the NFT collection and deliver valuable results for partners is to integrate exclusive perks, privileges, or access for the partners and NFT holders.
For example, the event’s NFT holder can access the partner’s special VIP area or get an exclusive discount on a certain line of products. This way, holders can enjoy their privileges to the fullest while partners can get in-event traffic with awareness in the Web3 space.