Document Type

Article

Publication Date

Summer 2022

Comments

With the rise of blockchain technology and its vast potential, non-fungible tokens (“NFTs”) could be the key to solving these various problems associated with the primary and secondary ticket markets. NFT tickets come with a substantial array of benefits, including guaranties for authenticity, sale transparency, and can create more direct links between fans and artists, as the smart contracts within each NFT can be encoded with various immutable rules. NFT ticketing would place more control in the hands of venues, artists, and fans, which would allow for more personalized experiences and direct relationships between hosts-attendees and artists-fans. Tokenizing the tickets for entry into all live entertainment events and allowing for both the sale and resale of those tickets on a blockchain may eliminate, or at least mitigate, seemingly monopolistic-like tendencies of primary ticketing companies as well as control the price inflation of secondary markets.

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