In an “industry first”, Live Nation has announced their plans to release NFT digital ticket stubs for its upcoming shows. The non-fungible tokens, which will be called Live Stubs, will be released in collaboration with the artists performing. It is their attempt at “allowing fans to collect ticket stubs once again – this time with more capabilities.”
Live Nation intends to give a sense of nostalgia to those who may have collected tickets to their favourite shows in the past, but with a more modern twist, also allowing punters to then share, resell and trade to others.
The digital ticket stubs will match the exact section, row and seat that attendees will take when buying their original ticket, and will be included for free upon purchase of selected tickets through certain Live Nation events, starting out in North America. Swedish House Mafia will be the first artists to offer Live Stubs at their upcoming 2022 ‘Paradise Again’ tour, which begins next July and supports the group’s third album release of the same name. It is the group’s first tour for ten years.
NFT ticket stubs will not be replacing digital tickets, and will not allow entry to the shows that they are tied to. They are intended solely for collectors, and fans will be able to view, share, gift and trade and resell them through Live Nation’s website.
Live Nation president and chief executive Michael Rapino has said: “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.”
Live Stubs are set to be minted on an environmentally friendly blockchain, which is yet to be named. It is technology that Live Nation has been investing in and working on since 2018, when Ticketmaster, who merged with Live Nation in 2010, acquired sports ticketing startup Upgraded. Alongside collectability, an apparent benefit of using the blockchain gives the ability to help prevent ticket touting by limiting the transfer of tickets. The company has already set up several of its festivals with their own established NFT marketplaces, such as Lollapalooza, EDC and Governor’s Ball. Ticketmaster will also be able to mint and share NFTs alongside their ticketed shows.
Other ticketing companies that use the blockchain include Secutix and True Tickets. The former is being used for several sports events, including UEFA’s Euro 2020 and Dutch football team Ajax, while True Tickets focuses on ticketing for artistic events, such as the Boston Symphony Orchestra.