Former Alibaba executive Toby Rush explains why NFT tickets have an edge over the traditional system.
NFT sales have had a rocky start in 2023 but the underlying technology still holds plenty of utility. Ticketing is an interesting yet underdeveloped facet of the NFT space. It stands out as a promising frontier for NFTs in the ever-evolving world of digital advancements.
According to former Alibaba executive Toby Rush, brands and events alike have adopted NFTs into their ticketing processes, reaping rewarding results for both customers and organizations over the past couple of years. The trend is catching fire, captivating a diverse range of stakeholders in what is being touted as an innovative and mutually beneficial landscape.
“As such, it is important to differentiate between NFTs as a speculative asset – where an NFT is connected to a speculatively valued piece of art, for example – and NFTs used as a digital representation of goods. This will let the smart contract prevent that NFT ticket from being resold for a higher amount, thereby discouraging ticket scalping and “ensuring that the most deserving fans can access affordable tickets, even if they are being resold on the secondary market.”NFT tickets are still an underdog but have their fair share of bottlenecks that need addressing. Limited accessibility is a major hindrance to their adoption due to their very technical nature.
Rush highlighted the need to exercise vigilance in their responsibility to facilitate secure user interactions within this nascent technology. Phishing scams, for one, have been exemplified in the NFT space. The exec added,
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Alibaba releases two open-sourced AI models to rival Meta’s Llama 2🤖Alibaba’s two open-sourced artificial intelligence (AI) models - Qwen-7B and Qwen-7B-Chat - each has 7 billion parameters with capabilities such as 'coding, model weights, and documentation.
Les mer »
NFT Trading Volume Is Sinking, But It’s Not Stopping Developers From Entering Web3According to Alchemy’s Q2 Web3 Development Report, while NFT trading volume fell 41%, almost six million smart contracts were deployed across chains including Ethereum and Polygon.
Les mer »
More Money For Creators: NFT Minting Platform Zora Initiates New Revenue SplitNFT creation platform ourZORA enacted a new revenue split to help creators earn more money. bobbyhundreds and CallMeLatasha are among the artists who will release new free mints on Zora this week. RosiePerper reports:
Les mer »
Web3 Gamer: Zuckerberg’s metaverse losses, NFT game on Discord, Gods Unchained hot takeWhat’s happening in Web3 gaming? This week’s Web3 Gamer explores Meta’s $40 billion losses, a new Web3 esports platform and more. (Via CointelegraphZN)
Les mer »
GameStop’s NFT wallet will shut down in November | EngadgetGameStop is pulling the plug on its crypto locker after only a year.
Les mer »
Donald Trump's defiant response to latest arraignment - KRLD NewsFormer President Donald Trump is out on bond after pleading not guilty to four criminal charges in connection with efforts to overturn the 2020 election. It's the latest turn against the former President as he continues to push for the 2024 Republican presidential nomination. Heather Behrens and John Liddle talked with CBS' Major Garrett about the Trump situation and Face the Nation on Sunday. The show will feature appearances by former Vice President Mike Pence, former US Attorney General Bill Barr, and more. Image: The Washington Post / Contributor Getty Images
Les mer »