Why Sell Tickets On SeatlabNFT
With the current turbulence in the crypto world and the well-documented crashes to various Web3 assets, we often get asked if NFT ticketing is the future.
Our collaboration with Lost Village showcases how we can enable more immersive event experiences using our NFT ticketing technology.
We’ve partnered with Lost Village to create an immersive experience for attendees and a pivotal moment for UK festivals, powered by Web3 technology.
This year, Villagers (Lost Village attendees) heading to the festival are invited to become members of The Lost Society 2022 by downloading the SeatlabNFT app. Once downloaded, Villagers can claim their Lost Society 2022 NFT membership card to gain access to a secret space within Lost Village.
It is one of the first times NFT technology has been used at a UK festival to create a membership programme for attendees, with NFT membership cards giving holders benefits and access to an exclusive experience at the event.
NFTs have been making waves in the entertainment industry and beyond since their introduction on the Ethereum blockchain in 2015. The non-fungible tokens are digital assets, the authenticity of which is verifiable through the irrefutable ledger that blockchain networks provide.
From their early beginnings as simple collectables and digital artwork, NFTs have evolved into utility assets for those who hold them. It is now possible to use NFTs as membership cards, access passes and much more, opening up a world of possibilities for the way in which we use the technology.
The NBA joined Web3 early with their collectable NFT platform Top Shot, allowing fans to own a unique moment from the league in digital form. Likewise, the NFL followed suit with the 2022 Super Bowl, minting fans a collectable NFT as a digital souvenir of their time at the game.
Large-scale music festivals are also offering NFTs as a way for fans to engage more with the experience. Coachella has minted NFTs which grant holders lifetime access, unlock on-site experiences and a chance to own various digital collectables.
The broad utility of NFTs means that their use in the entertainment industry is just beginning to be explored. As membership cards, NFTs allow artists and event organisers to tailor different perks and rewards to fans based on different membership tiers, opening up a world of possibilities for fan engagement.
NFTs give fans a more engaging experience, but they are also of commercial benefit to organisations as well.
The popularity of the NBA’s Top Shot has meant that the platform recently passed the $1 billion mark in sales, as fans continue to trade the collectable NFTs in spite of the recent crypto market downturns.
Similarly, Coachella’s first NFT release generated almost $1.5 million in additional sales for them, with one NFT going for $270,000. The festival has said this is only the first of several Coachella Key releases, meaning they stand to leverage the initial popularity repeatedly.
Offering fans perks, benefits and exclusive collectables is proving a popular feature of Web3 and it’s already generating significant additional revenue for organisations that use NFTs.
Our pioneering collaboration with Lost Village showcases how SeatlabNFT is designed to give event organisers creative freedom to use NFTs on the same platform as their tickets are sold.
This year, Villagers are invited to join The Lost Society 2022, a membership club for the festival with unique perks and benefits.
To gain access to The Lost Society, Villagers can download the SeatlabNFT app, where they can claim their NFT membership card in the form of a digital collectable. Members of the Lost Society can access an exclusive immersive sound and light experience at the festival by scanning their NFT membership card at a hidden door within the Strike City installation.
Membership to The Lost Society is free, and there is no limit on the number of people that can participate, but having a ticket to Lost Village is essential, of course. This is how our collaboration with Lost Village works, but other event organisers may choose to sell additional NFT memberships as a way of increasing revenue or improving customer loyalty.
With membership verifiable via blockchain, organisers can airdrop members and ticket holders NFT collectables after the event too if they so wish, giving fans an extended show experience and engaging with them even outside the venue.
Our partnership with Lost Village was a massive success! Check out how it went and relive it in this round-up.
SeatlabNFT x Lost Village is only the beginning of our upcoming partnerships to demonstrate what’s possible with our NFT ticketing technology. In the coming months, we’re planning to showcase several different ways that NFTs can be used to transform fan engagement and provide a more immersive experience for event attendees.
To see more about how we’re redefining event ticketing or to learn more about the SeatlabNFT platform, stay in touch via our socials and subscribe to our newsletter below.
Looking to list your events on SeatlabNFT? Start Selling Today