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NFTs, or "Non-fungible tokens", are assets that use the encryption technology of the blockchain and smart contracts, able to attest the ownership of any digital object (images, videos, songs).
There are two types of tokens: fungible and non-fungible. The former are interchangeable with each other, that is, they can be exchanged among individuals without any problem: an example is Bitcoin. The latter (i.e. NFTs) cannot be exchanged with any other type of digital token as they are representative of something unique that cannot be replaced.
In this article, we will bring you some examples of how NFTs can be used to bring added value to the events sector.
1. Digital tickets
Thanks to the use of the blockchain, your event tickets can be digitized, bringing an advantage for both the seller and the buyer. The sales and purchase process is streamlined since the tickets are purchased using the technologies made available and therefore no longer as they traditionally happened at the ticket offices. Those who benefit from it are also the organizer of the event who, thanks to the characteristics of non-fungible tokens, have the possibility of maintaining the property right on each ticket sold. In relation to this, the fact must be added that digital tokens cannot be counterfeited as they are not replicable and unique in their kind: in this way counterfeiting is put a stop.
2. Gamification and non-fungible tokens
How many times have you ever kept a ticket for a concert, cinema, exhibition or any other event?
Today, thanks to gamification and non-fungible tokens, this habit will no longer serve only to keep the memory of that experience alive, but also to obtain exclusive advantages.
The use of digital tickets allows, in fact, to exploit the benefits of gamification applied to events. Rewards strategies can be implemented: by purchasing the digital ticket, the buyer can be given the right to enter a prize competition or to allow exclusive access to other events and, again, to accumulate points. This will encourage users to buy tickets online and keep them in a safe place, so as to accumulate more points and finally get the long-awaited reward in return.
3. Metaverse
Today it is already possible to be projected into the future: you can create your own avatar and buy a lot in a virtual reality very similar to the real world. And, just like in real life, you can perform a myriad of actions and you can even participate in virtual events, which is why companies are encouraged to create events in the metaverse: users will get the right to participate, upon payment of a ticket. Furthermore, guests can be provided with gadgets and prizes in the form of NTF. The lucky winners will be able to receive unique products for free or access discounts and preview items.
Why buy non-fungible tokens?
In addition to the exclusive benefits above, these tools allow the direct contact with the organizers. The purchase of NFT tickets allows customers to contact the event organizer directly in case of need. This is possible as the adoption of non-fungible tickets establishes the almost absence of intermediaries, supporting a one-to-one relationship.
This type of tickets are not only functional to participation in the event, but they can become collectable. At the moment you own an NFT you are also the rights owner on it that represent a real artistic value. If the purchased NFT is also linked to particular advantages and benefits, the token, in addition to being unique in its kind, will also be precious.
NFTs also have the cability to power the community platforms of a brand, this is because from the moment you own a digital asset, you are automatically part of that owners group. We remind you that, thanks to them, companies improve interaction with their customers and not only: communities favor relationships, help people to solve their problems or doubts and the consumers often support those in difficulty. In this way, brand awareness increases and also the engagement of new users.
Conclusions
In conclusion, we can say that non-fungible tokens, thanks to the advantages they contain, help to make a personalized and direct relationship between customer and brand . Furthermore, the subject matter is very current and constantly growing. In the next few years, the metaverse will be more real than we can imagine. The use of new technologies and digital assets also supports the events sector, favoring many benefits to companies that can simplify their daily activities and improve the relationship with their customers more and more.
