Ticketmaster taps Dapper Labs’ Flow blockchain to release tickets as NFTs

the ticketing industry has a major opportunity here: By issuing tickets as NFTs, venues can give a variety of benefits to purchasers, creating more of an incentive to buy, as well as providing the venues an opportunity to collect royalties on secondary sales.

Crypto allows performers of all levels to own their financial relationship with fans instead of relying on the traditional record label system and/or tech giants to serve as a middleman. Artists are using NFTs to earn years worth of streaming revenue in one day and unlock unique experiences for fans without relying on a centralized platform to faci... See more

Well, Dapper Labs (a blockchain company) recently teamed up with the NBA to make ownership of in-game highlights a reality. How? Via a platform called NBA Top Shot.

Second, the blockchain also keeps a record of all the transactions connected to the NFT and the property it represents. In art sales, for example, that could represent the provenance of something going back to the creator.

What excites me the most about these kinds of projects is that they combine multiple kinds of cutting-edge business models and technologies — digital scarcity, drop culture, blockchain and cryptocurrency — into a direct-to-fan transaction that actually makes real money for the artists involved.

-Tokens: With data monopolies non-existent, blockchains use network tokens as an incentive instrument that captures value for the open network.

To create an aura of artificial scarcity around their music, the likes of 3LAU and RAC create a non-fungible token (NFT) to represent each piece of art. An NFT is a token that — unlike, say, a U.S. dollar bill or a standard cryptocurrency like Bitcoin or Ether — is rare, singularly unique, not mutually interchangeable and indivisible into smaller d... See more