Home
News
- 1 Non-fungible token tickets use blockchain encryption to provide unique codes to the buyers which can be used to authenticate ticket purchases.
- 2 These tickets are designed to reduce forgery and improve event security.
Non-fungible token tickets use blockchain technology. The record in the chain is time-stamped with transaction data. It is connected to the previous record by one-way mathematical code that can not be reversed.
The NFT ticket has a unique digital signature that is traceable on the blockchain. The original seller can be traced back as well. This adds to the authenticity and also prevents tickets from fraud.
NFT ticketing is also combined with smartphone cameras for facial recognition to verify the identity of the ticket holder. The holder of the ticket takes a selfie to authenticate the identity and once the identity is verified an Incode ID NFT code is made ready within minutes.
The buyer receives a digital ticket with an NFT code. At the event, the buyer gets an entry presenting a scan of the digital ticket and face.
How NFT Ticketing Is Better Than Traditional Tickets
It is a lot different than the traditional tickets. It is a digital asset while traditional tickets are physical tickets. It is safe and secure as it uses the blockchain technology. Hence, it reduces forgery.
For verification, it uses facial recognition whereas in traditional tickets, a manual photo ID is required. NFT tickets are used for authentication and other event activities like purchasing goods etc. while traditional tickets are only used for identification.
Other Details of NFT Ticketing
There are many benefits associated with NFT Ticketing. These tickets prevent scams and misuse, as all the data is available on the blockchain. This adds transparency and security as well as it can not be altered. New information can be added but the previous information or data stored can not be changed.
NFT tickets are cheaper and organizers can control the resale value of tickets from resellers in the secondary market. It can be produced instantly. The ticket holders can receive the tickets from a cloud account or device app which reduces the risk of losing the physical tickets.
NFT tickets have blockchain encryption with unique codes that enhance security and prevent scams. It removes the need for physical tickets by adding more ease. It is also fortified with the advanced technology of face recognition which promotes easy entry in the event.
This way of ticketing allows only valid ticket holders to enter any event. Thus, it gives surety to event organizers. It also avoids scalping and fraudulent activities. It is much safer than traditional tickets as they can not be replicated. It provides genuine reservations to gain entry to the event.
Summary
NFT tickets facilitate immutable records of ownership as well and they are programmed with token-gating technology. They are managed and stored on blockchain which uses smart contracts and cryptographic methods for storing data.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
