Major European Music Festival first to announce NFT festival tickets into the world
EXIT Festival, the two-time winner of Best Major European Festival, will be the first major music event in the world to integrate NFT tickets into its event.
EXIT festival announced via the website that is has partnered with NFT-TiX, a ticketing platform and marketplace built on the Ethereum blockchain. NFT-TiX is run and governed by smart contracts, allowing ticket sellers to connect with ticket buyers one-on-one.
NFT-TiX prioritises fair prices, profit for sellers on the secondary market and exclusive perks for ticket holders from event organisers. NFT-TiX also offers additional perks via decentralized unlockable content to NFT Ticket holders.
As quoted at Yahoo! news, NFT-TiX Founder and CEO Emil Ljesnjanin said “we’re thrilled to be partnering with Exit Festival… this is a huge vote of confidence in our platform and our ability to provide a better ticketing experience for both festivals and fans”.
An appealing aspect of integrating NFT tickets into music festivals for organisers is the security and transparency that it provides. Through the use of smart contracts, NFT-TiX can track and verify every ticket, eliminating the risk of scalpers and fake tickets flooding the market. Ljesnjanin described it as a “game-changer” and said “we can finally put an end to ticket fraud and scalping, and fans can be confident they’re getting the tickets they paid for.”
Similarly to how ticketing tiers operate with standard music festivals, the first release of NFT VIP Gold and NFT VIP Infinite Experience tickets went on sale June 30th, 2022.
Along with the tickets, last week EXIT festival also released NFT collections in collaboration with superstars Maceo Plex and Christina Carmela.