Festival Insights NEWS: NFT Ticketing: the benefits it can bring to the festival industry and beyond

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Ryan Kenny

The global online ticketing system might be worth around $30 billion, but it has been in a state of increasing collapse for a number of years. Customers’ trust has long been dwindling, the security of ticket sales is ever more unsure and financial losses for both buyers and sellers are of increasing concern. Thankfully, the rise of NFT Ticketing and blockchain technology means that things are changing for the better, and fast. 

The most common complaint in the ticketing market for live music events, conferences, sports and anything else is that buyers worry about whether a genuine ticket or not. Unfortunately, 12% of people in a recent survey said they had been left in the cold after buying fake tickets from online stores that present a legitimate service. As well as losing money on fake tickets, there is huge disappointment at not being able to attend the event you hoped.  Part of the problem…

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