South Korean entertainment giant Dreamus, the company behind internationally recognized K-pop stars Twice, Psy and MissA, has implemented a novel concert ticket sales system via nft in its loyalty rewards app. parent company, SK Planet, OK Cashbag.
By leveraging OK Cashbag’s 100 million loyal users and leveraging Avalanche’s digital assets, those who want to attend upcoming Dreamus events can now quickly get secured tickets to notable K-pop concerts and more through the platform. OK Cashbag already grants access to the ‘Seoul Jazz Festival’ and the classic musical ‘Phantom of the Opera’, due to existing chain ticketing through the UPTN subnet.
Unlike conventional NFTs available on secondary markets like OpenSea, the Avalanche-based Entry passes offer distinctive style. By integrating a QR code that only comes to life during the day of the event, the ‘Blockchain Total Ticket Solution Service’ guarantees exclusive access only to the original purchaser, restricting illicit access for those who want to attend an event using the ticket. another person.
However, the app has plans to launch a secondary marketplace with loyalty features.
The subsidiary of SK Planet and Korean entertainment giant Dreamus is launching a ticketing platform powered by Avalanche and SK Planet’s UPTN subnet.
Let’s take a look at why this is a big win for blockchain ticketing and real-world use cases pic.twitter.com/f9JVKsxoaT
– Avalanche (@avax) September 21, 2023
The Powerful Effects of nft Ticketing
Dreamus concert NFTs resonate with other industry giants and influencers, including Web3 entrepreneur Gary Vaynerchuck, who grants exclusive access to his Veecon conferences to bearers of his extensive collection of VeeFriends NFTs.
Plus, the next generation ticketing platform Get Protocol recently raised $4.5 million in financing to use nft to access concerts, shows and events, while going head to head with the industry giant, Ticketmaster.
nft-Tix is another force in the nft ticketing industry worth mentioning, offering chain passes to attendees of major events like Unum and EXIT Festival, providing once-in-a-lifetime opportunities as added benefits.
However, the main advantage of issuing nft tickets includes the cancellation of counterfeit notes and scams. Because the blockchain functions as an unchangeable and secured record, the details stored on the chain help customers make smarter decisions, preventing secondary market misuse, fake tickets, and speculation.
These advancements are instrumental in reshaping our live entertainment sector, affirming the importance of blockchain in the entertainment space. Dreamus is now tuning into nft ticketing to lead the charge.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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