How NFTs will change events (and why Mark Cuban is a genious)?

Your friend Cathrine loves The Dallas Mavericks and she got you some tickets! Hooray! But you deep down you are really a Lakers fan and you don't really want to go but the ticket was kind of expensive.

Thank you Cathrine for being such a good friend and getting me a courtside seat ticket that costs a fortune.

Your alternative is to try to sell it (at a loss - OBVIOUSLY) and try not to get scammed (or knifed) while selling it. So much stress for having good friends.

Photo by Nick Jio on Unsplash

Enter NFT Tickets

Oh but your ticket was actually an NFT ticket. That means that you can sell it to one of the existing platforms pretty easily and probably at a higher price. If everything goes as planned, you should be able to sell it in under a minute or even put it up for auction.

But Cathrine is devastated that you want to sell her gift (and make a profit out of it). So you decide to go to the event. And it is actually pretty fun! The check-in is like a normal ticket with a QR code but what is epic is that the DallasM has "airdropped" (lingo for sending you for free) a new NFT that unlocks a hoodie. BOOM! Oh and now you have access to the highlights of the show! Oh and you can sell your collectible ticket after the event?

Why NFT tickets are the future

If it is one utility for NFTs that is epic is being able to resale your tickets without having to jump through hoops or pay crazy fees. And I know this could be a heaven for scalpers (and hell for everyone else) but bear with me.

The future is like this:

  1. I buy my ticket with Ether for Dallas Maverics vs LA Lakers
  2. I can resale the ticket if I want to and the team gets to participate on the resales - because that's how NFTs work (and blacklist scalpers)
  3. I check-in with my ticket without the need of complicated apps or internet
  4. I get more NFTs as airdrops if Dallas win (and I can keep them as memorabilia or sell them)
  5. I keep my NFT ticket that can also change after the game with the score (see later on: dynamic NFTs)

Why NFT tickets are NOT the future

There are many issues with that future.

  1. Tickets must be bought and sold with Ether and that means some initial friction. I've seen tons of new NFT platforms and NFT ticketing solutions that are destined to crash and burn because they plan to sell NFTs with fiat ($ or euro). Why? Because if you really want to participate in selling your NFTs, stacking them up, unlocking content and doing all these crazy stuff in the Metaverse you need to be on the blockchain. If I am just an entry in your database and I am not really the owner of my NFT why are we doing all this?

For example, after the initial friction of setting up a metamask wallet, users that bought my NFT tickets for my conference were able to immediately sell them in a HUGE market (OpenSea) or use them to unlock videos from the conference.

Being "on the chain" is hands down the best long term experience. Unless you want people not being able to resale your NFTs. Trust me on this.

And that's it. That's the only thing. I used NFT tickets for my conference and almost 1000 new wallets were created by people that had nothing to do with NFTs before.

It is not rocket science and this is how a community grows.

If you are interested in learning more about ridiculisloy easy is to create your NFT tickets in a jiffy (what a strange the word jiffy is), check this post.

Coming Next: Using the API to create as many NFTs as you want

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- Sun 06 June 2021

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