NFT Ticketing: The Key to Live Events, Book Launches, Comic-Con and the Metaverse

Debasri Rakshit
July 1, 2022

NFTs can disrupt the entire traditional ticketing system and help creators monetise their content better.

But, first, what is blockchain ticketing?

In NFT and blockchain ticketing, the ‘tickets’ are NFTs, and their respective transaction information is stored on the secure blockchain.

NFTs, or non-fungible tokens, are unique units of data stored digitally. They can’t be interchanged. A broad range of digital creations can be NFTs, including digital arts, graphics, and even a 3d rendition of your face.

Why Does the Events Industry Care About NFT Tickets?

  • The blockchain is entirely secure, safeguarded against hacking or malicious attacks.
  • Transactions can be traced through the blockchain - this means organizers can track NFT ticket resales.
  • NFTs are highly customizable and unique.

You’ve likely heard of the growing hybrid event format, with virtual and live elements combined. Now, the events industry has a new hybrid approach in its toolset – secure digital ticketing for live events.

What's the Current Literary Event Scene in 2022?

Currently, most offline literary events are free, thereby diminishing their value. They can be attended by anyone - and, often, the crowd that attends these events don’t buy the book.

  • But, what if every event could be a paid one?
  • What if some of these events could be conducted in the Metaverse, exactly like music concerts?
  • What if event tickets gave attendees a special access pass to an exclusive community of readers you can grow over time?

Why's Everyone So Gung-ho About NFT Ticketing?

1. NFTs Make Memorable Souvenirs

NFTs can be anything – which gives event organizers plenty of room to get creative. For example, you can design custom tickets that tell your event’s story, making them memorable collectibles for your audience.

Unlike physical tickets, NFT tickets aren’t prone to wear, and last indefinitely. So, attendees don’t have to worry about losing their tickets, tearing them, or getting them wet.

2. Save on Printing Costs and Time

Physical tickets require time and money to print, and most mainstream digital ticketing platforms aren’t cost-friendly either; many take a high percentage of the revenue.

NFT tickets, on the other hand, take less than a minute to generate, and the production costs are much lower too.

3. Blockchain Ticketing Gives Creators More Control Over Ticket Revenue

Through blockchain technology, organizers can track NFT ticket transactions. Each purchase is securely stored in the blockchain, including any ticket resales.

Price gauging and fraudulent ticket sales are massive problems for both event organizers and creators. Reselling tickets isn’t necessarily malicious or bad – sometimes, fans can’t make it to a concert, so they sell the ticket to someone who can.

The problem arises when middle-men start capitalizing off live event tickets; they buy tickets in bulk, specifically to drive up the demand and resell them to true fans at higher prices.

Malicious activity of this nature creates a wedge between fans and creators; the additional revenue is pocketed by third parties that add no value, and fans have to pay more to attend the event.

With blockchain ticketing, organizers can track each transaction, award royalties on ticket resales, and even create NFT tickets that cannot be resold (by coding them to be non-transferrable). Additionally, each NFT is unique and stored securely – there’s no way to generate fraudulent tickets.

4. NFT Technology Effectively Puts Control in the Creator’s Hands

5. NFTs Can Drive Audience Engagement

Wait a second – how can digital tickets drive audience engagement in live events?

That’s a question innovative brands and marketers have some solid answers to.

What if attendees could ‘win’ NFT badges for attending certain workshops, which they can exchange for swag or rewards? Or if you awarded personalized digital clothing to attendees instead of physical ones?

NFTs present a world of opportunity for driving engagement and leveraging gamification to encourage attendee participation.

How Can Writers Utilize the Power of NFTs?

1. Comic-Con Festivals

Comic-con festivals have gained recognition in international circles over the years. And they are not just about colourful costumes and fascinating graphics. They are also about the minds behind the characters and their props, that is you, the author.

So, how do you use this opportunity to gain readership? NFTs are the answer.

You can partner with the event organizers to create NFTs as entry tickets to the festival. These NFT holders can gain privileged access to special props and costumes of their favourite comic book character – a miniature version of a Batman or a Game of Thrones mask, for instance.

Even if you are not a comic book author, you can use this platform to promote a book a comic book fan can relate to. And you can do that with NFTs, too.

You can sell specific NFT tickets to, say, a fan who gets excited about all-things-Marvel. And with that NFT, you give out a limited copy of a non-fiction you wrote on the story behind the creation of one of the Avengers.

The idea is to expand your reader base while offering them those experiences with which they are familiar.

2. Book Launch Events in Real or Virtual World

The typical free book launch is passe. Now you can ensure that you make revenue from each of your book launches through NFTs. What’s more - following in the footsteps of Justin Bieber, Ariana Grande, Travis Scott and Daler Mehndi, you can conduct launches in the Metaverse!

Traditionally, there is no way to connect with an exclusive set of readers who form the cream of your fanbase.

Book launch entry tickets are either free or sold to whoever buys them. Now, with NFTs, you can form an exclusive set of readers who you know would truly appreciate your book and the events around it.

How do you use NFTs for your book launch?

At the outset, you can conduct NFT drops for a limited number of readers, who can use those NFTs as entry tickets to your exclusive book launch. And when they do, you can sell some more NFTs that offer them lifetime access to your future book launches.

Some NFTs can serve as in-event tickets for special happenings within the book launch, such as a fireside chat with the author, that is, you, or obtaining the first edition of a physical copy of your book.

3. Book Fairs and Lit Fests

Both book fairs and lit fests attract millions of visitors. In many of these events, entry is either free or nominally charged.

Keeping with the tone and the setting of such events, can event organizers and writers still use NFTs to control entries?

Enter NFT airdrops. Airdrops are NFTs given out for free as a promotion. Book fair organizers can use NFT airdrops to send unique entry tickets to a set of visitors.

They can add smart contracts in these NFTs enabling the visitors to get signed copies of books of specific authors, such as you.

The NFTs can also act as privileged entry tickets to the more popular stalls or talks, where possessing the NFT means a visitor can skip the queue. NFTs can also be used to reserve a certain number of copies of your book for holders, preventing them from being sold out to the general public.

4. Music or Art Events Bundled with Book Readings

If you are multi-talented, you can create varied NFT collections and expand your fanbase across multiple disciplines.

Let’s take the example of musician T.M. Krishna, a renowned Indian Carnatic vocalist, who’s also a fantastic storyteller. So now, here’s an opportunity for him to use NFTs to organize live events that combine his two talents. How?

Let’s say he conducts NFT drops where he sells NFTs as entry tickets to his new book launch. In that same book launch event, he adds a special live performance.

By combining the two live events, he can broaden his fan base.

It doesn’t always have to be a music show. Maybe you are a writer with a knack for sketching. Maybe you create the illustrations for your book yourself.

You can then create a separate sketch exhibition within your book launch event and provide access to a limited number of NFT holders, who get to appreciate being invited exclusively to gauge your works of art.

The Potential of NFTs in Live Events Have Only Just Begun

It’s so exhilarating to meet your favourite author at a live event and hold on to that entry ticket forever as a souvenir, right? Unfortunately, paper tickets are out of fashion and the modern-day QR codes hardly qualify as valuable keepsakes.

Thankfully, NFTs are here to combine the best of both worlds. Being a unique property of the collector, an NFT used as an entry ticket to any live event can be kept forever.

And being digital, there’s no reason to revert to printed tickets to create such one-of-a-kind mementos for the reader.

You, as an author, can create these memories for your readers by minting NFTs for your own literary events. Invite your exclusive followers to your live event, give them NFTs for future events and hand out special, physical souvenirs to a select few collectors as a ‘thank you.’

These collectors can resell those NFTs to grow your fan base. This theory of exclusivity can help create more interest in your written works and help promote your books extensively to your growing readership.

And through all of this, you have the option to generate more revenue, first through the sale of your NFTs and then through their resale.

Many other options will potentially be available to authors as the use of NFTs in live events continues to diversify.

Do you have some ideas of your own that you would like to talk about? The Supercraft team is happy to help.

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