Thread by @AlexIsBuilding

#NFT ticketing has all the ingredients necessary to create an overnight boom for mainstream NFT adoption.

Here’s how 🧵👇

In business, there are two types of services:

💊 Vitamins - Add benefits to a customer’s life

💉 Pain Killers - Remove a problem that the customer cannot stand dealing with

The best services, companies or technology use cases do both.

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☠️ Let’s start with the PAIN: Fake Tickets ☠️

To illustrate the scale of this problem, let’s look at a near #riot that broke out as a result of fake tickets just 2 months ago.

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The biggest sporting event that you care about may be the #SuperBowl or the #NBA playoffs.

But in Europe, the biggest event is the #ChampionsLeague. A soccer tournament that puts all of Europe's best clubs against each other to battle it out and see who’s best.

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As you can imagine, the grand final of this would be a massive event, with people flying from all over the world to support the team.

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🤔 So let me ask you a question 🤔

What do you think happens when 40,000 people purchase tickets that they assume to be real. Purchase accomodation. Take time off work. Arrive ready for the game. And then find out that their tickets are in fact #FAKE?

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The answer, absolute chaos:
⚔️ Riot police were deployed.
💥 Fans were tear gassed and pepper sprayed.
🕰️ The match was delayed until order could be restored

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So why did this happen?

Because fans couldn’t verify the #authenticity of their tickets, or the #legitimacy of who they were purchasing from.

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💉 The Pain Killer - #NFTs 💉

NFTs solve this immediately by:

✅ Clearly showing that the Ticket itself is authentic (OS verification badge)
☺️ That it was produced by the original creator
🤝 The person who is selling it actually owns it, and ownership has been transferred.

But it’s not all doom and gloom. This is the key attraction in getting users to adopt this technology.

But I am MUCH more excited about the unique experiences that NFT ticketing can create, which brings me to…

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💊 The Vitamin: World first fan experiences 💊

NFTs as we experience them today are very much centred on forming a community, making true supporters feel connected to a #brand (or project), and giving these holders unique #access and #utilities based on holding these NFTs.

Let’s look at this through the lense of #NFT ticketing. If someone holds NFT tickets in their wallet, the sports team for example can create:

1️⃣ An online store, and unique user experience, where certain rare items only appear if you hold 50+ ticket NFTs

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2️⃣ A community that is accessible and tiered based on how deeply a user supports the team

3️⃣ Rewards for the most diehard repeat attendees

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I dream of a day where I attend a grand final game for the @chicagobulls. The #Bulls win 🏆

Then from that moment onwards, everytime I log onto the @NBA website, I am greeted with a unique browser, just for attendees, and access to free #merch commemorating the experience.
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We forget that sports fandom has been giving people for years what we look at in #NFTs today: Community, Belonging, Something to Root for.

Ticketing NFTs + Sport can take this to the next level 🚀

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So what is the blocker that’s preventing this from going mainstream?

The missing ingredient - a #seamless #mobile #wallet that users understand, that is integrated with the option for fiat cash payments.

https://twitter.com/AlexIsBuilding/status/1552661888374255617

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However, once #organisers start to realise that they can earn #secondary #market #royalties, instead of giving this away to resale sites, we will likely see a bigger push that helps accelerate this transition and integration to occur.

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What do you think the killer use case is that will take #NFTs mainstream?

Make sure to #follow for #daily #threads on modern business models, enhanced by #NFTs.

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