NFTs have become all the rage in certain circles, but a lot of people are still scratching their heads trying to figure out what they are and why (or if) they matter. In this article, NFTs and blockchain technology will both be explained briefly in plain English, as well as how they are being used by both individuals and businesses for a wide range of purposes, including events.
NFTs can be used to drive and manage event attendee engagement and behavior. A conference organizer can use NFTs to incentivize attending breakout sessions or make some events within the conference exclusive to a specific type of NFT ticket purchased, granting them special access to speakers and presenters. NFTs could also be used to gamify conference attendance, such as collecting badges for sessions attended to unlock an additional NFT. Leveraging NFTs into higher event engagement only takes a bit of creative thinking to become reality.
For the most part, the term ‘cryptocurrency’ became synonymous with blockchain, but recently, new uses for the encrypted database have gained momentum, like NFT transactions and ticketing. NFT tickets promise greater security, traceability, and personalization. They’re set to revolutionize ticketing.
Let’s take a look at the significant problems blockchain ticketing helps solve…
Virtual events introduced organizers to advanced data and analytics, driving more informed decision-making and marketing efforts to improve attendee experiences and increase event ROI. However, the data, analytics, and insights that virtual event platforms offer aren’t the only technological advancements the events industry has seen recently. NFT and blockchain technology are set to change the Live events industry in entirely different ways.
Before we dive into the specifics, though, let’s get caught up to speed on the terminology…
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