Anyone looking for a reminder not to get too carried away with the NFTs bonanza would do worse to look at the fate of some of the blockchain music companies from a few years ago that had big ambitions. Big Neon for example, whose founding team included Ticketfly co-founder Dan Teree and cryptocurrency expert Riccardo ‘fluffypony’ Spagni.
Its business was in blockchain powered concert ticketing, and it launched with “multi-year, multi-million dollar exclusive ticketing contracts” with venues and promoters in the US. Two and a quarter years later, the company is shutting down.
“Our goal was to build a new type of ticketing company based on a mobile-centric approach. Unfortunately, growing an early stage company in the current Covid environment was untenable,” explained the company in a message to those clients.
In an interview with Billboard, Teree suggested that the company’s work won’t be for nothing. “I think many of the priorities we were committed to will show up in other ticketing platforms in the not-so-distant future…”