Ticketmaster’s job posting for a product manager of NFT ticketing tooling reveals the company’s intent to roll out NFT-based enterprise products “across all content categories including sports and music.”
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A new job posting by America’s biggest ticketing company, Ticketmaster, reveals mainstream interest in exploring new revenue streams using nonfungible tokens (NFTs). Over the past two decades, musicians, athletes, and the sports industry have helped to bring the NFT ecosystem to the forefront of attention. The technology was a powerful tool for fan engagement. However, the majority of the public jumped on the NFT hype train to make money by reselling collectibles on secondary markets.
With the NFT hype eventually slowing down by mid-2022, entrepreneurs and companies are looking for new use cases beyond collectibles. A study conducted by Big 4 accounting firm Deloitte in May 2022 highlighted the untapped potential of the crypto ecosystem to open up newer 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 a product manager of NFT ticketing tooling uncovers the company’s intent to roll out NFT-based enterprise products “across all content categories including sports and music.” The role also demands developing new products and features catering to the future needs of its NFT business.
With the new role based in New York, Ticketmaster aims to support the productization of NFTs while complimenting the recently launched NFT marketplace.
Similarly, crypto exchange Binance recently stepped into the NFT ticketing business in partnership with football club Societa Sportiva Lazio for the 2022 to 2023 season. Binance made clear that NFT tickets could be used to solve scalping and fake tickets in an announcement to Cointelegraph. Binance will provide access to events and offer match discounts. Binance also plans to use NFT tickets for personalized experiences.