A new job posting from America’s largest ticketing company Ticketmaster reveals widespread interest in exploring new revenue streams using non-fungible tokens (NFTs).
Over the past two years, artists, musicians, and the sports industry have helped propel the NFT ecosystem into the spotlight as the technology served its purpose as a powerful fan engagement tool. Instead, most of the general public jumped on the hype bandwagon in search of profit through reselling collectibles on secondary markets.
With the NFT hype eventually slowing down in mid-2022, entrepreneurs and businesses are looking for new use cases beyond collectibles. A study by Big 4 accounting firm Deloitte in May 2022 highlighted the untapped potential of the crypto 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 tools product manager reveals the company’s intent to roll out NFT-based enterprise products “across all content categories, including sports and music.” “. The position also requires the development of new products and features that meet the future needs of your NFT business.
Ticketmaster Job Ad for an NFT Ticketing Product Manager. Source: LinkedIn
With the new New York-based feature, Ticketmaster aims to support NFT production while also complementing the recently launched NFT marketplace.
Related: Binance jumps into NFT ticketing after UEFA League fiasco
Similarly, cryptocurrency exchange Binance recently entered the NFT ticketing business in partnership with Società Sportiva Lazio football club for the 2022-2023 season.
In the announcement sent to Cointelegraph, Binance highlighted that NFT tickets could solve the issues of fake tickets and scalping. In addition to providing access to events, Binance plans to use NFT-based tickets in various use cases, including in-store and match discounts and personalized experiences.
This post Ticketmaster explores enterprise NFT production beyond ticketing
was published first on https://cointelegraph.com/news/ticketmaster-scouts-productization-of-enterprise-nfts-beyond-ticketing