NFT Ticketing: How They Benefit Venues & Artists
Backstage is leading the digital revolution in the events and entertainment industry. With our blockchain-powered platform, we’ll tackle the current challenges plaguing the space today.
One of the industry’s main problems is the ticketing process. It’s slow and expensive (those darn fees!). Plus, current ticketing technology doesn’t offer issuers and buyers the transparency and control needed to maintain fair prices and stop counterfeiting and other frauds.
Moreover, the present ticket process is incapable of maximizing revenue. With better technology, tickets can do more for venues, sports teams, artists and others in the industry.
Backstage solves all of this by introducing NFT ticketing technology. BKS NFT tech enables venues, artists, athletes, sports teams and other event producers to maximize sales and revenue while providing a better experience to users and fans.
In this article, we’ll dive deeper into what NFTs can bring to the industry:
NFT Tickets Can Drive More Sales
There is an enormous variety of options when it comes to NFTs. They are programmable, which means we can include specific properties in them that only true owners can unlock.
For example, here are the capabilities and perks of our BKS NFTs:
- What they are: Unique art-like NFT tickets that can be designed to drive merchandise and at-event sales. You can use the NFTs to sell experience packages like never before!
- How they can be used: Leverage our BKS NFT tech, partners can sell exclusive NFTs for events that include not only entry, but also perks such as VIP backstage access, private table bookings, champagne bottles, exclusive music content, etc.
- Ways they go beyond traditional ticketing: These tickets can become souvenirs over time. Since NFTs are on the blockchain, future sales of the souvenir can be tracked, and royalties can be paid back to the original venue, artist, etc.
On the Backstage platform, NFT use extends beyond tickets. For instance, artists can create an NFT collection and set a specific condition that grants the first NFT owner special privileges, such as:
- Discounts on future NFTs
- Voting rights in the future development of NFTs
- Airdrops of physical merchandise, like shirts and albums
- Access to events, including the chance to meet the artist
As you can see, BKS NFT tech can become a great tool to build community on the STAGE and within communities. It creates new ways to engage while having limitless possibilities on what you can do.
NFT Tickets Eliminate Counterfeiting & Price Gouging
Consider these stats:
- More than 5 million fake tickets are sold each year.
- About 12% of people buying concert tickets get scammed.
- Secondary ticket markets suffer from greedy price gouging.
Backstage NFT ticketing has finally come to present a final solution to this issue. Given that NFTs are registered on the blockchain, which is immutable, any chance of ticket counterfeiting is now completely out of the equation. You can also use the technology to set in minimum and maximum prices, ensuring fair ticket prices even on secondary markets. Buyers can also easily verify authenticity — relieving another source of concern in the process.
NFT Tickets Can Become Collectibles
Physical tickets have long been collected and resold. While physical tickets for famous events, such as Woodstock, as well as physical sports player cards, will always have value, the ticketing world is going digital. The problem is, current digital tickets don’t really offer much collector value, especially since they’re not non-fungible and they lack aesthetics.
Since NFT tickets will often feature stunning designs, along with many programmable features, they make a great replacement for physical ticket souvenirs. Even better, you don’t have to worry about wear and tear (which can cause a ticket to lose its value).
Backstage NFT tickets and NFTs can become the ultimate collector item. On our platform, musicians, artists, athletes and venues can create unique art pieces with exclusive content and special properties. Given the potential uniqueness and utility of each NFT, these NFT collectibles could become very valuable items, much like physical sports player cards.
NFT Tickets Simplifies Royalties
Collectable NFT tickets can not only be resold but each resale can be tracked and royalties can go back to the business or artist. This way, artists or businesses can keep earning from the ticket, even after the event. This opens up possibilities never seen before in the industry. NFTs can become much more than collectables.
As an example, take Kelvin Gastelum, an American MMA fighter currently competing in the UFC Middleweight Division. Kelvin has partnered up with Backstage and is now a Backstage Ambassador in the MMA sports scene. Apart from promoting Backstage, he is also selling his own sports NFT on the BKS marketplace. This allows him to make more intimate connections with his fans, reach out to new ones, and earn royalties every time his NFT is sold.
NFT Tickets Are Experiences That Will Deliver Customer Loyalty
NFTs are also a perfect tool to be used for customer loyalty programs, as they can be used to create experiences and facilitate ongoing communication.
Here’s one example of how partners can use NFT tickets to create one-of-a-kind experiences:
- NFT Experience Package: Ahau Hotels, a partner of ours, uses Backstage NFT technology to offer vacation packages. This NFT-based package gives you one ticket that provides not only access to your hotel room, but also daily perks such as breakfast, yoga classes, beach rentals and more.
- NFT Digital Seats: Along with our metaverse partner, XMANNA, we’re using NFTs to offer digital seats in their metaverse. Soon, fans can attend their team’s game in the metaverse using an NFT ticket to access their virtual seat.
As you can see, NFT tickets can go beyond events. Airlines, restaurants, spas and even regular retail stores can use the technology to create a better overall experience for their customers.
Backstage Makes NFT Tickets as Simple as Apple Wallet Tickets
The events and entertainment industry is stagnant. It needs a push forward to keep up with new technologies and survive the current financial crisis.
This is where Backstage promises to become a game-changer.
Backstage makes Web3 technologies such as NFTs as simple as Web2 apps.
With Backstage, venues and artists can leverage the power of NFTs in a way that’s as simple and straightforward as using PayPal, Apple Wallet, WeChat Pay, etc.
Putting Power Back in the Hands of Event Producers
Intermediaries and outdated technology have limited venues and artists for too long. Backstage is here to take the entertainment industry one step beyond. By introducing NFT ticketing and metaverse features on top of the blockchain technology, Backstage enables venues and artists to maximize revenue, enhance experiences and create financially sustainable operations like never before.
Now’s the time to join Backstage and start using this revolutionary NFT technology. Your business will reap the benefits for decades to come.
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.
Find out more about Backstage: