Ticketmaster is partnering with Avenged Sevenfold to launch an Ethereum NFT token-gating feature, in an effort to end scalping, bot activity, and long wait times. As part of this partnership, the heavy metal band tested the feature with the Deathbats Club NFT collection before full integration.
This marks the first time Ticketmaster has offered token gateway integration for live ticket purchases, after issuing more than 5 million NFTs as commemorative tokens for major events like the Super Bowl.
At present, Ticketmaster token gate sale uninterrupted functionality for tokens printed on Ethereum and held in dApp wallets such as Coinbase or MetaMask. Fans have already used this feature to purchase tickets for various major events, and it will now be available for all remaining dates on Ticketmaster.
Avenged Sevenfold. Image: Ultimate Guitar
How NFT-Gating On Ticketmaster Works
As part of the purchase process, Ticketmaster will guide users to connect their wallets to verify NFT ownership, after which the purchase process will remain unchanged. Next, the ticket will be issued to the wallet associated with the NFT, giving fans the option to transfer the ticket to another wallet, if necessary.
Currently, this is a pilot initiative, but if there is demand, Ticketmaster can expand the integration to add more artists. The NFTs provide fans with exclusive access to a one-of-a-kind digital keepsakeswhile the token-gated feature ensures heightened safety and clarity in the ticket buying experience.
We are pleased to announce the first leg of our Life Is But A Dream… North American Tour • July 18th to August 7th • with special guests @aof_official. @DeathbatsClub members can open exclusive access 1st to get tickets now through Tue 12PM PT. https://t.co/QgDdcoLVjZ pic.twitter.com/wP1U2VRJpC
– Avenged Sevenfold (@TheOfficialA7X) March 27, 2023
NFT Makes A Step In The Music Industry
Ticketmaster’s implementation of token-gated ticket sales via NFTs is an important step in its efforts to combat scalping and bot activity in the live event industry. It also gives fans a unique opportunity to own exclusive digital memorabilia related to the event they attended.
This pilot program may signal the future of ticket sales for live events, as it provides transparency and fairness in the purchasing process.
By partnering with Avenged Sevenfold, Ticketmaster hopes to offer fans a secure platform to purchase tickets at a reasonable price and also have a digital collection associated with 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 want.
1) Go to the pre-sale link
2) Connect your wallet
3) Hold the right NFT → ask for verification
4) Buy a ticketNo queuing. No scalpers. There are no bots.
This is the best version of “Verified Fan”.– Rob Abelow (@AbelowRob) March 27, 2023
Avenged Sevenfold: Deathbat Club Prices increase
As Avenged Sevenfold launch ticket trials, coupled with an alternate reality game (ARG) tied to their new album release that includes NFT mints, prices for Deathbats Club NFTs have gone up.
data from NFTgo shows that the floor price, which represents the lowest price of an NFT listed on the market, has more than doubled in the past month, reaching a record high of 0.17 ETH (equivalent to $300).
-Images shown are from Ultimate Guitar