The event industry, vital for fostering connections, culture and education, faces ongoing challenges that impact its efficacy and reputation. Issues like ticket fraud remain to be solved while ticket-related scams double in 2023.
Another pressing challenge is the struggle to cultivate meaningful engagement with attendees. In an era where digital interaction and content consumption habits are rapidly surpassing traditional alternatives, many events fail to capture and sustain the attention of their audiences. This engagement deficit is particularly evident in the difficulty of creating compelling pre-event anticipation, maintaining live interaction and extending the conversation post-event.
Digital consumption is expected to nearly double traditional consumption by 2025. Source: Statista
Compounding these issues is the inefficiency embedded within traditional ticketing systems, often marked by a lack of flexibility and slow response times, as highlighted by Vox. The result is a frustrating experience for users, characterized by cumbersome purchasing processes, entry delays and a one-size-fits-all approach that fails to meet the diverse needs of today’s event-goers.
The integration of blockchain technology could solve traditional ticketing problems by speeding up response times, enhancing flexibility and offering personalized experiences.
Giving NFTs main-stage access with token-gating
Belong, an app that provides access to events, conferences and content utilizing token-gating, introduces a solution that leverages the power of nonfungible tokens (NFTs) to reimagine access to a wide array of experiences. Belong’s approach introduces token-gated access, a mechanism where event organizers can sell NFT passes (for both fiat and crypto) that serve as keys to various exclusive offerings.
NFTs grant users access to online content and physical events in token gating. Source: Belong
Organizers can issue these passes as NFT tickets, providing a verifiable solution that curbs ticket fraud and unauthorized duplication, as…
..
