Tickets provide entry to exclusive events or services such as transportation, movies, games, concerts, talk shows, etc. While they also serve as a form of access control to these events or services, they are not entirely foolproof.
The current ticketing system has a lot of loopholes that make consumers doubt its legitimacy and validity, especially those purchased online. There is also the existence of third-party sales by ticket touts who mass purchase tickets often through unfair means and then resell them at exorbitant prices preying upon fans who badly want a share of the limited tickets. This is possible because the current ticketing system lacks adequate security restrictions to prevent attendees from purchasing multiple tickets for a particular event or service, either in-person or online.
As the last UEFA Champions League final incident demonstrated, there is also a risk that some of the tickets resold unofficially could be fake. This could have unsavory effects on the smooth organization of the event.
In an attempt to prevent these ticketing issues and adopt a more transparent and efficient way to obtain tickets, a new secured blockchain application is beginning to surface — NFT tickets. Non-fungible tokens, NFTs are a unique way of showing verified ownership of digital assets on the blockchain network. As event tickets can be considered a form of asset, they can be digitized as NFT tickets with transactions that are securely stored and accompanied by unique identifiers.
NFT tickets, like all other NFTs, provide a clear record of the tickets’ authenticity, seller, price, and transaction history — key elements that traditional ticket distribution avenues find hard to track. Producing, obtaining, and gifting tickets are also easier with proper sales records.
Social Pass empowers event organizers to provide attendees with a seamless ticketed and authenticated admittance experience. With our top-notch NFT ticketing and scanning platform, participants do not have to worry about carrying IDs to verify ownership, nor do they have to worry about misplacing or damaging their tickets, as they would with paper tickets.