Live Nation launching NFT ticket stubs from next year
Live Nation are launching NFT ticket stubs in a bid to “bring back the nostalgia of collecting ticket stubs.”
An industry-first, the set of NFTs will be unveiled for some upcoming shows: the first pilot one will be Swedish House Mafia’s ‘Paradise Again’ tour next year, which is scheduled to begin next July.
Called Live Stubs, the NFTs will be created in collaboration with the artists whose shows the tickets are being bought for. They will allow fans “to collect ticket stubs once again – this time with more capabilities.”
Each one will specifically match the exact section, row and seat that the ticket is linked to. Live Stubs will be included free with every ticket purchased for the select Live Nation tours across North America.
It’s important to remember that Live Stubs are meant to be collector items and aren’t supposed to replace digital tickets for genuine entry – they’re simply being developed for fans to view, share, gift, trade, and resell on the Live Nation website.
Live Nation president and CEO Michael Rapino shared his vision for the NFTs in a statement. “Our Live Stubs product brings back the nostalgia of collecting ticket stubs while also giving artists a new tool to deepen that relationship with their fans and we can’t wait to see what the creativity of this community dreams up as it grows,” he explained.
The Live Stubs will also reportedly be minted on an eco-friendly blockchain. The entertainment company have been interested and investing in the technology for the past several years. Several of their festivals – Lollapalooza, EDC, Governor’s Ball – already have established NFT marketplaces.
In another positive recent move, Live Nation made it a requirement that all artists, crew, and attendees provide evidence of full COVID-19 vaccination, or a negative test, in order to gain access to venues in the U.S. and U.K..
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This article originally appeared on The Industry Observer, which is now part of The Music Network.