As nonfungible tokens (NFTs) continue to create buzz in the digital world, more and more artists and creators are getting on board to provide unique collectibles for their fans and create revenue streams. In order to capitalize on the trend, event promoter and producer Live Nation has launched Live Stubs, digital collectible NFT stubs that Live Nation will be working on with artists and that will be included with ticket purchases to select Live Nation shows.
Notably, these NFT ticket stubs will not act as tickets that fans can use for entry to events — they’re purely collectible stubs for the digital age. The NFTs will represent the specific section, row, and seat of the ticket being purchased, just like physical ticket stubs do, and will enable artists to “extend the live experience and engage with ticket holders before, during and after the show,” according to a release, which is quickly becoming something that fans expect from their event experiences.
Artists will also be able to integrate special experiences and rewards for fans into the NFTs. The first collection Live Stubs NFTs will be available with tickets purchased for the upcoming SWEDISH HOUSE MAFIA: PARADISE AGAIN TOUR, and fans will be able to view, trade, gift, and resell their NFT stubs on Live Nation’s website. They will also be able to share links to their stubs on social media.
“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,” said Michael Rapino, President and CEO of Live Nation Entertainment in a statement. “Special thanks to SWEDISH HOUSE MAFIA for kicking it off for their upcoming tour.”
The stubs will be included for free with primary ticket purchases, so fans getting their tickets from third-party marketplaces will lose out on the collectibles. Live Nation also notes that it has been investing in blockchain technology since 2018 and that it is continuing to explore other offerings in the space.