Ticketmaster is partnering with Avenged Sevenfold to launch its Ethereum NFT token-gating feature, in a bid to put an end to scalping, bot activity, and long wait times. As part of this partnership, the heavy metal band tested the feature with its Deathbats Club NFT collection prior to its full integration.
This marks the first time that Ticketmaster is offering token-gated integration for direct ticket purchases, after previously issuing over 5 million NFTs as commemorative tokens for major events like the Super Bowl.
At present, Ticketmaster’s token-gated sales are functioning without any glitches for tokens that are minted on Ethereum and held in dApp wallets such as Coinbase or MetaMask. Fans have already utilized this feature to buy tickets for various major events, and now it will be available for all remaining dates on Ticketmaster.
Avenged Sevenfold. Image: Ultimate Guitar
How NFT-Gating On Ticketmaster Works
As part of the purchasing process, Ticketmaster will guide users to connect their wallets to verify NFT ownership, following which the buying process will remain unchanged. Subsequently, the ticket will be issued to the wallet linked with the NFT, giving fans the option to transfer their ticket to another wallet, if needed.
At present, this is a trial initiative, but if there is a demand for it, Ticketmaster may expand the integration to include more artists. The NFTs provide fans with exclusive access to a one-of-a-kind digital keepsake, while the token-gated feature ensures heightened safety and clarity in the ticket-buying experience.
We’re stoked to announce the first leg of our Life Is But A Dream… North American Tour • July 18 through August 7 • with special guest @aof_official. @DeathbatsClub members can unlock exclusive 1st access to request tickets now through Tues 12PM PT. https://t.co/QgDdcoLVjZ pic.twitter.com/wP1U2VRJpC
— Avenged Sevenfold (@TheOfficialA7X) March 27, 2023
NFTs Make Strides In The Music Industry
Ticketmaster’s implementation of token-gated ticket sales through NFTs is a significant step in its efforts to combat scalping and bot activity in the live events industry. It also presents a unique opportunity for fans to own exclusive digital memorabilia connected to the event they attend.
This pilot program may very well mark the future of ticket sales for live events, as it brings transparency and fairness to the purchasing process.
By partnering with Avenged Sevenfold, Ticketmaster hopes to offer fans a secure platform to purchase reasonably priced tickets while also owning a one-of-a-kind digital collectible linked to the event.
Crypto total market cap still maintains peg on the $1 trillion mark on the daily chart at TradingView.com
BREAKING: Ticketmaster launches NFT-gated pre-sales.
The use case I’ve been waiting for.
1) Go to the pre-sale link
2) Connect your wallet
3) Hold the right NFT → get verified
4) Buy your ticket
No queue. No scalpers. No bots.
This is the best version of “Verified Fan”.
— Rob Abelow (@AbelowRob) March 27, 2023
Avenged Sevenfold: Deathbat Club Prices Surge
As Avenged Sevenfold launched its ticketing trial, coupled with an alternate reality game (ARG) linked to the release of their new album that included an NFT mint, the prices for their Deathbats Club NFTs have surged.
NFTgo’s data shows that the floor price, which refers to the lowest price of the NFT listed on the marketplace, has more than doubled in the past month, reaching a record high of 0.17 ETH (equivalent to $300).
-Featured image from Ultimate Guitar