How Backstage NFT Tickets Keep Value After the Event
As with all things that are physical in nature, ordinary physical tickets are subject to the laws of nature. Tickets don’t just change over time. They “age” and this process of aging is not something that improves like a rare vintage wine. It carries a negative connotation with itself. It deteriorates.
Moreover, most tickets are quite simple in design and are quite easily counterfeited. It’s hard to verify the authenticity of a ticket a month or a year later.
In all, traditional tickets, although a very rational choice for a souvenir of your favorite event you’ve attended (a concert, a game or a festival), aren’t quite an ideal choice for that application.
So, how can we ensure tickets carry value over the long term? How can we save memories of favorite events in a way that preserves value, not deteriorates it?
This is a question NFT tickets have an answer for. NFT tickets have certain advantages over legacy tickets that allow them to be better suited for being a souvenir.
In this article, we’ll look at seven ways NFT tickets keep value after an event.
1. Backstage NFTs offer post-event benefits
After an event where you buy a physical ticket, or even a standard NFT ticket, all you’re left with is the ticket you used to get into the venue, if you choose to keep it as a souvenir. It can’t really do anything else.
This isn’t true for Backstage NFT tickets we create for partner events. Our NFT tickets are experience packages that can hold value even after the initial event. For instance, a BKS NFT ticket may also offer:
- Discounts to future events
- Entry to metaverse events
- VIP brunch or dinner at the stadium
- A chance to meet an artist or player
- Physical merchandise such as t-shirts
As you can see, the value of having a Backstage NFT ticket doesn’t stop after the event. It’s something that can be enjoyed for years, if not longer.
2. Backstage NFT tickets leverage a powerful partner network to customize and enhance offerings
Expanding on the previous point, NFT tickets from Backstage also offer an opportunity to experience things in addition to the event itself. We can do this thanks to our powerful partner network, which includes hotels in Mexico, theaters in Turkey, festivals in Switzerland, art shows in Italy and many more.
This means your NFT ticket could be much more than entry to an event. Backstage can customize and enhance NFT tickets to include hotel stays, cultural activities, flight transportation, add-ons to be used later and more. The NFT ticket is like a gateway to access places and services for a lifetime.
3. NFT tickets won’t degrade over time
As we’ve already mentioned, it’s natural for things to degrade over time. Even cured meats, aged cheese and wine, all have a shelf life even though they’ve been processed in a way that slows down their deterioration.
However, NFT tickets, even though the underlying technology is physical, they themselves are digital. Whatever is digital can be preserved as long as there is physical hardware. Data can’t “go bad” just like that.
This means that the NFT tickets you use today for, say, an MMA event, will be in the same shape a year or 10 years from now.
4. NFT tickets can’t be counterfeited
It’s easy to verify the authenticity of NFTs. The reason why NFTs can’t be counterfeited is because they exist on the blockchain.
Now, the blockchain is a chain of blocks (it’s in the name). Each block begins with a unique “fingerprint” of the previous block, and that fingerprint is the result of all the data that’s in that previous block.
Consequently, each block contains all the data from all the previous blocks. If one of the blocks changed, the whole chain would simply stop working.
Thus, any attempt to counterfeit an NFT would result in the creation of a block that’s easily recognizable as an attempt to mimic the ticket. This is the reason why NFTs in general, and NFT tickets in particular, can’t be counterfeited. You can rest assured that your NFT ticket is yours and yours alone and that it’s real.
5. NFT tickets are unique!
Your ticket is yours alone. This is not only because it can’t be replicated, but because it’s literally in the nature of NFTs to be unique, even though some of them are related in one way or another.
Understand that NFT means “non-fungible token”. This makes it different from money or physical tickets. Two units of the same currency can be swapped for one another and nobody would care — they still hold the same value. That’s the property of fungibility and what enables money to exist at all.
However, each NFT is a completely unique token, with a completely unique underlying blockchain designation. They cannot be copied, substituted or subdivided.
Because of this, you know with certainty that no one owns the ticket you do. That uniqueness could prove valuable after a famous event. You’ll have a souvenir of the event nobody else owns.
6. NFT ticekts can’t be misplaced
If you’ve ever set up a crypto wallet on your computer or your smartphone you’ve most likely come across a step in which you have to write down something known as a “seed phrase”. A seed phrase is a collection of 12 or more random words (depending on the security level you chose) that can serve to restore the data that you think you might’ve lost.
For example, you spill water over your smartphone, you buy a new one, install the wallet again, and you enter the seed phrase. The NFT ticket is still there. That’s because it never was really stored on your phone or computer alone. The data of your authentic ownership of that NFT ticket was stored on the whole blockchain network in a decentralized and distributed manner.
Accidents can happen, and you can somehow lose the seed phrase, but barring this, NFT tickets are not like the ones of old which are often lost, or even more often simply thrown away.
7. NFT tickets have artistic value
On top of all this, NFT tickets are more than just a digital replacement for the small rectangular piece of ticket paper.
NFT tickets can have artistic value. They can be nicely drawn and designed, as well as animated and even have various 3D qualities.
For example, at Backstage, we work with artists to create NFT tickets that are imbued with artistic value. Yes, these NFTs will have real world use (aka “utility NFTs”), but no one says they have to be utilitarian in design.
These NFT tickets can be made into beautiful works of art that keep their integrity so that you can enjoy them indefinitely. They thus are potentially more likely to keep their value, or appreciate in value. For the NFT ticket holder, this creates the possibility of selling the NFT ticket souvenir at a later date for a potential profit.
About Backstage
Backstage is powering the crypto revolution in the events industry. Through the BKS token and our blockchain ecosystem, Backstage aims to solve the current challenges facing the events and entertainment sectors. From financing and payments to NFT ticketing and marketplaces, Backstage $BKS will take the events industry toward a more sustainable, profitable and fair future.
Backstage has a very strong and open community and everyone can join and contribute to the platform’s development by purchasing tokens and helping fund the entertainment industry.
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