A new job posting from America’s largest ticketing company, Ticketmaster, reveals a general interest in exploring new revenue streams through NFTs.
Over the past two years, artists, musicians, and the sports industry have helped put the NFT ecosystem in the spotlight, as the technology has served as a powerful tool to engage fans. Rather, most of the general public jumped on the advertising bandwagon in search of profit through reselling collectibles on secondary markets.
With the NFT hype curbing in mid-2022, entrepreneurs and businesses are looking for new use cases beyond collectibles. A study by accounting firm Deloitte in May 2022 highlighted the untapped potential of the cryptocurrency ecosystem to open up new markets for the sports industry:
“We could see fractional ownership of season tickets and suites and a reinvention of the ticket resale process.”
Following suit, Ticketmaster’s recent job posting for an NFT ticketing tool product manager discloses the company’s intention to roll out NFT-based enterprise products “in all content categories, including sports and music”. The position also requires the development of new products and features that meet the future needs of NFTs.
With the new New York-based feature, Ticketmaster intends to support the production of NFTs and complement the recently launched NFT marketplace.
Similarly, cryptocurrency exchange Binance recently entered the business of selling NFT tickets in partnership with Società Sportiva Lazio football club for the 2022 to 2023 season.
In the announcement sent to Cointelegraph, Binance highlighted that NFT tickets could solve the problems of fake tickets and scalping. In addition to providing access to events, Binance plans to use NFT-based tickets in various use cases, including leveraging in-store and match discounts and personalized experiences.
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