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Everything that NFT tickets could do could be accomplished without them

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by COINS NEWS 121 Views

One of the main usages of NFTs that people here keep talking about is nft ticketing. Apparently concerts and sporting events have problems with ticket scalpers and scammers. I don't go to either myself, but you don't need NFTs for either.

"NFTs could be used to prevent fake ticket listings/one guy selling the same ticket to multiple people"

This could easily be solved by an app. Let's say you're a ticketing service. All you'd need to do is create a marketplace for tickets on your own app. Now people have a place to trade your tickets that can be monitored directly by you. You could use each person's profile to confirm they actually own the tickets at the time of trading and remove any other listings they have with that ticket once it's been sold because their account wouldn't have it anymore.

"NFT tickets could prevent scalpers from charging much higher for scalped tickets"

That could be done in app too. Just put a limit on how much higher you can sell a ticket from when you bought it or when it was originally sold. For an example, if a concert ticket was originally $25, then the reseller could, at most, sell it for $40.

"NFT tickets could provide a new revenue stream for ticketing services"

There is no reason you need NFTs to do this. Just take a portion of the reseller's profits. I've used digital marketplaces before, and they already do this. Steam's marketplace takes 15% on anything sold there.

"NFT tickets could be used to give deals to customers"

Just implement it into the app. You've bought and used 20 tickets from us? Here's a 50% coupon on drinks for your next few concerts. This isn't something you need NFTs for.

"NFT tickets will make things cheaper for the customers"

I'm not sure how this notion appeared. Maybe because people hate ticketmaster? This is probably the best argument for nft tickets but much would change though. Ticketmaster and the like are going to win a ticketing service battle unless the other option is much cheaper and marketed better. I'm not sure how much it costs to mint an nft or how high transaction fees are on whatever crypto current services are using, but those things are going to factor into the service costs I assume. Best thing I could see happening is ticketmaster lowering their prices if competing services are actually much better.

submitted by /u/ShadowClaw765
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