NFT – Future-proof solution for tickets to sporting events

The NFT market can sometimes give the impression of being reduced to a multiplication of collections of digital images that are not always very useful. A reductive view often peddled by its detractors, always waiting for the collapse of its speculative bubble. Because even in sharp decline – like the entire cryptocurrency market – non-fungible tokens have been given a full place in this ecosystem and even beyond. To the point of being considered a possible solution by many companies, not only in connection with innovative communication campaigns. Because they could well be the future of sporting event tickets.

When discussing the subject of NFTs, the most common responses remain the Bored Ape Yacht Club (BAYC) collection or their supposed contamination. With mostly an almost systematic rejection on the basis of useless speculative madness. Yet their adoption continues, sometimes against a recalcitrant section of the targeted communities.. Especially in the gaming sector, which is very resistant to this new but promising technology.

However the use cases likely to benefit from the benefits of these non-fungible tokens are numerous and mostly undiscovered. And their supposed pollution no longer (or ever did) matter since they are now developed on blockchains with verified carbon neutrality. A fact highlighted by the recent malfunctions in the disastrous management of ticket offices for sporting events. What if NFT tokens were the solution?

NFT – The future of ticketing

Who hasn’t seen – or experienced – the chaos of the 2022 Champions League final at the Stade de France. A real crash test in real time, which will go down in history as an experience not to be reproduced. And a new national shame within the framework of the always oppressive management of the smallest overflow, however predictable. Because the problem of fake tickets is nothing new, especially when it comes to events of this magnitude. With, according to the estimates of the French authorities, more than 35,000 fans landed without valid entry tickets (false or absent). And this simple observation of the documented and urgent need for innovative ticketing solutions for this type of event.

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Because selling tickets on the black market is not inevitable, although it has been common for decades. This is why the introduction of access fees in the form of NFT tokens could very well appear to be a logical and innovative solution. Because it guarantees the verifiable authenticity of every ticket registered on the blockchain. While allowing to integrate digital features such as random rarity or specific additions. A utility that has already been successfully tested during major sporting events.

NFT – First test as event tickets

In fact, the National Football League (NFL) in the US has already jumped into this digital bath, with actual use of NFT tickets since last November (2021). This represents the issue of 250,000 banknotes of this new genre over this period alone. With Super Bowl fans entitled to a collection of commemorative NFTs randomly entered on these digital media, but also animated visual effects. All available at no cost and implemented on the popular Polygon (MATIC) blockchain, built in close relation to Ethereum (ETH).

But this is only one of the many initiatives that have been developed in the area. Because in the case of the company GET Protocol, based in Amsterdam, the tickets sold are also registered on the Polygon blockchain. This allows them to be linked to a phone number, in the event of a purchase on its mobile application. A key element to avoid any possibility of counterfeiting them or reselling them outside a precise and controlled framework. And according to Colby Mort, head of the company’s NFT strategy, it adds transparency to an industry that has been portrayed as a “black box.”

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And the stakes are high. Because some major events are coming up, such as the Paris Olympics scheduled for 2024. But also the Rugby World Cup organized next year, still on French territory. Knowing that the establishment of these NFT tickets does not only concern the world of sports. In fact, the many special conditions associated with this type of digital ticket can be used for concerts, festivals and other cultural events. With the ability to add rarity elements or community and artistic applications not yet invented…

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