Although the NFT market as a whole might have come to a momentary standstill in terms of price action, companies across the world are not shying away from embracing the new tech to expand their business footprint.
Ticketmaster Parent Company Envisages NFT Marketplace
According to a recent report by Ledger Insights, Live Nation – the company that owns the popular American ticket sales and distribution firm Ticketmaster – could soon be entering the novel NFT waters.
Recently, during their quarterly results announcements, Live Nation CEO Michael Rapino spent a great deal of time discussing NFTs and blockchain technology.
Rapino sees NFTs as another avenue to “cement that magic moment called the concert.” The Live Nation CEO envisages layering an NFT on a ticket via Ticketmaster.
According to Rapino, NFTs could provide Live Nation “a great way” to engage with its fans using NFTs and leveraging them to establish a direct relationship with the customers to add rewards, perks, and souvenir moments.
Arguably, NBA Top Shot has helped to spearhead the corporate push into NFTs this year.
Top Shots reached $570 million in sales this year, offering “Moments” that are essentially video clips of memorable basketball highlights.
Live Nation is just one of the many companies taking notice of this success and is therefore planning to capitalize on the non-fungible token space with a marketplace of their own.
Thus, the NFT craze looks far from being over, and an increasing number of companies are looking to join the movement.
“We’ve all learned from Top Shot at the NBA. So we envision Live Nation with the marketplace and looking at some of the concert moments as magic moments that we could mint and attach to our ongoing ticket festivals and special moments.”Live Nation CEO Michael Rapino
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