Why Blockchain Ticketing Is Perfect for Sports
NFT and blockchain ticketing is perfectly poised to improve sports for both fans and event organisers. This is how we're approaching it.
This is how our revolutionary Immersive Fan Passes help artists connect with their global fanbase, unlocking additional revenue streams in the process.
What if we told you that artists could connect with their fans in new ways outside of touring?
Imagine being able to engage your fan base in places you’ve never visited.
Traditional fan clubs and mailing lists no longer serve their purpose. A new form of fan membership for the digital age is here: the Immersive Fan Pass.
~~Digital NFT memberships creating additional revenue for artists, and a closer connection to fans.
Nurturing a relationship with your community and showing your love for them is the fastest way to build a loyal fanbase. Send tickets or other digital items to fans who engage with you the most.
We've created the Immersive Fan Pass, a revolutionary new NFT membership programme that gives fans unprecedented access to artists and enables a healthy secondary market that rewards creators for their work.
The SeatlabNFT Immersive Fan Pass is designed to create never-before-seen experiences and artist access for fans, limited only by the artist's creativity.
Currently, a gap exists in the artist/fan engagement space that traditional membership programmes and fan clubs have been unable to capitalise on. Until now it has been difficult, if not impossible, to reward fans with something of real value without artists losing out on the opportunity cost of things like free tickets they could have sold.
It’s also been notoriously hard to verify a fan’s eligibility to receive the perks that come attached to their membership.
However, the traceability of blockchain networks and NFTs empower this new generation of fan club to mix real-world benefits with collectable digital assets to reward members' loyalty.
You can issue collectable NFTs as perks for fan pass holders. These collectables can be drip-fed to fans over days, weeks and months, keeping a constant dialogue and flow of engagement between fan and artist.
NFTs can contain any kind of rare digital media the artist or their management can think of, but some examples are:
Fans can keep these collectable NFTs as souvenirs to enjoy, or resell them on the secondary marketplace to other fans and collectors, allowing them to extract real value from their fandom. It costs artists almost nothing to create collectables, but the value they provide is unrivalled.
~~It’s like signed merchandise but on a massive, global scale.
The worldwide reach of our Immersive Fan Passes is what makes them so powerful. In a world where we’re more connected than ever before, the next logical step for artists wanting to interact with their fans across the globe is to harness the full potential of the internet; Immersive Fan Passes allow them to do just that.
We can also attach claimable physical items to NFT collectables, letting the holder redeem the benefits and perks assigned to them. Examples of claimable items that artists can reward fans with include:
NFTs are an ideal vehicle when it comes to claimable items because of how easily ownership can be verified, and Web3 is already redefining how fans engage with the performers and artists they love.
This unique Web3-based membership programme is also a new opportunity for artists to generate significant revenue outside of touring.
Fan clubs have almost become a thing of the past. They fail to engage fans as they used to, and do little to generate additional revenue. The romantic idea of fan clubs as they used to be has given way to something that no longer benefits the fans themselves or the artists and their management.
Immersive Fan Passes allow artists to open up new revenue streams by selling different fan pass tiers to a global audience, with the highest tiers containing the most exclusive perks.
And because these fan passes are digital, they can be marketed and sold to anyone around the world. Imagine selling a fan pass for $49 and converting just 1% of an artist's monthly Spotify listeners or Instagram followers.
Do the maths for whichever artist you like; the numbers are massive.
Some fans will buy an Immersive Fan Pass purely because of their love for the artist.
But, for those on the fence, the ability to sell some of the digital NFT collectables attached to fan passes on the secondary market will be enough to convince them to buy. They can sell the collectables they’re not interested in and keep the ones they are, recouping some of their initial outlay.
Turbo-charging this new revenue driver are royalty splits.
A royalty split is when a percentage of an NFT’s resale revenue is directed to a specified royalty beneficiary.
Let’s say you set a royalty split of 20% on all of the collectable NFTs attached to an Immersive Fan Pass. Whenever one is sold on the secondary market, 20% of the total resale revenue will be automatically transferred to a specified wallet address.
But how is this possible?
It’s quite simple: NFTs.
We can attach smart contracts (pieces of self-executing code) to NFTs that are triggered when certain conditions are met.
In this case, they govern royalty splits.
If it weren't for blockchain and NFT technology, none of this would be possible.
Streaming services have changed how artists and musicians monetise their work. Previously, physical album and single sales would provide a steady income stream, but more recently, with the ease of streaming, the main source of revenue for musicians comes from touring.
The Immersive Fan Pass changes this. With the option for multiple tiers, each with its own unique, unprecedented access for fans, Immersive Fan Passes are a new source of revenue for artists.
Moreover, in addition to revenue generated from selling Immersive Fan Passes, artists would also earn from royalty splits on secondary sales.
Blockchain networks offer a different way of using technology to enhance fan engagement because of how they record the data they hold. On a blockchain, users are given a unique wallet address, which acts as a touchpoint for that user.
Blockchains also record the history and movement of digital assets, giving unparalleled insight into the journeys they take.
The journey an NFT takes is recorded by the blockchain, meaning fans can purchase and resell them anytime. The legitimate owner is always identifiable through the traceability of the blockchain.
We’ll leave it at that for this article, but here’s everything you need to know about NFTs if you want a more detailed explanation.
When a fan purchases an Immersive Fan Pass, the NFT fan pass will be stored in their wallet. You can then send other NFT collectables directly to their wallet address as part of the package.
Our NFTs are fully functional and scannable. Each NFT is attached to a rotating QR code, and in the future we plan to implement NFC technology too.
Scanning a QR code with our scanner app will quickly verify an NFT’s authenticity and let fans use their pass to claim real-life items such as discounted merchandise, drinks or food at venues, memorabilia, or anything else that you’ve chosen.
We know that artists and their management are busy.
So we offer a fully managed service to help artists capitalise on the benefits of NFT technology.
Our fully managed service includes:
We’ve made implementing an Immersive Fan Pass programme simple and as frictionless as possible.
While we can handle most of the process, we will require minimal time from artists and their management. We estimate an annual time commitment of:
The SeatlabNFT Immersive Fan Pass is an NFT fan club programme that redefines the membership experience for fans by using the traceability of blockchain to identify pass holders.
Immersive Fan Passes allow fans to own collectable NFTs, which come with additional utility and benefits, as customised by the artist or brand creating them.
Get in touch today at email@example.com to learn more about our Immersive Fan Passes and how they foster closer connections between fans and artists and open up new revenue opportunities.