How to leverage blockchain to sell tickets

Non-Fungible Tokens (NFTs) are representations of assets, both digital and physical, on the blockchain network. While they use the same technology as cryptocurrencies, NFTs cannot be divided or exchanged but can be bought and sold.

Although the concept is strongly associated with crypto art and video games, its applications go far beyond these two areas. For example, PALA Blockchain, a company offering blockchain solutions and consulting, has recently introduced the first NFT Access in the Argentine market. This is a blockchain-based application that allows minting NFTs for event invitations and customer loyalty programs.

“With NFT Access, all you need is a smartphone with internet access, making it an ideal solution for SMEs. It’s also very useful across industries, from family events to sports or concerts, and can also be used as a loyalty tool,” Rodolfo Vigliano.

How does it work?

NFTs are “minted” through a smart contract on the blockchain, which involves converting a digital file (invitation or ticket) into an unalterable digital asset. In theory, this eliminates counterfeiting and allows control over ticket resale.

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At the same time, Vigliano explains that blockchain technology makes NFT ACCESS highly accessible and unlike any other type of invitation. "These NFTs are unique, cannot be counterfeited, and endure over time, beyond the event itself. Since they are stored on the blockchain, the invitation cannot be replicated, and later, the same NFT becomes a collectible item accessible to the public. This allows for broader use thanks to traceability, creating new marketing and customer loyalty opportunities," he notes.

We invite you to read the article by Cintia Perazo.

https://www.lanacion.com.ar/tecnologia/nft-access-o-como-aprovechar-blockchain-para-vender-entradas-a-recitales-nid22052023

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