Christopher BarrettLive Nation Entertainment (LNE) has made a further move into the world of Non-Fungible Tokens (NFTs) with the launch of Live Stubs – a collectible NFT ticket stubs platform.
The global promoting giant, and owner of Ticketmaster, said the NFT ticket stubs will be included with tickets for select Live Nation shows in North America, kicking off with Swedish House Mafia’s Paradise Again Tour next year. The NFTs will include details of the section, row, and seat of each ticket purchased.
LNE said Live Stubs are minted on an “eco-friendly” blockchain. Some of the company’s festivals, including Lollapalooza, EDC and Governor’s Ball have already created their own NFTs and marketplaces.
LNE said that by providing collectable digital ticket stubs, the NFT initiative opens up a world of possibilities for artists to extend the live experience and engage with ticket holders before, during and after the shows. It said artists will be able to work with LNE to integrate special experiences and rewards within the NFTs.
Fans will be able to view, share, gift, trade, and resell their live stubs on Livenation.com. The promoter said the NFTs are collector’s items and will not replace the digital tickets needed to physically enter shows.
Live Nation Entertainment CEO and president Michael Rapino 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 will be given free to fans who purchase a primary ticket to shows that are promoted by the company in venues using Ticketmaster’s digital ticketing platform.