NFTs are digital ‘collectibles’ so it’s no surprise that people in that space have turned to past examples of physical collectibles when trying to explain the potential. Baseball cards are often cited, as are band t-shirts. Now Live Nation is trying out another comparison: NFTs as digital ticket stubs – the equivalent of the torn-off sections of physical tickets left in the hands of concertgoers.
Called ‘Live Stubs’ (yes, that has been trademarked) they will debut with Swedish House Mafia’s upcoming US tour. The idea: every fan buying a ticket to shows promoted by Live Nation and held in venues using Ticketmaster ticketing will get a free NFT that includes their specific seat details.
They can keep these digital stubs, show them off on social media, but they can also gift, trade and resell them on Live Nation’s own site, with the hint of “special experiences and rewards” if artists want to devise those.
Live Nation also stressed that the NFTs are “minted on an eco-friendly blockchain” – a big point of debate at the moment around music NFTs.