In an apparent bid to stamp out middlemen that seek to profit from tickets resale of live events and concerts, ticketing platform Yellowheart today announced the launch of NFT ticketing mobile application YellowHeart Wallet, which eliminates the need for a physical ticket and connect users directly to its Web3 Ethereum-based NFT ticketing platform and marketplace.
The Wallet enables credit card fiat and cryptocurrency payments via Ethereum and Polygon integration, to be used for live event NFT ticket purchasing and on-site redemption and integrates with on-site activations and the concert-going experience.
“The YellowHeart Wallet is a major milestone for the live event industry. The App allows fans, artists, and venues to interact with Web3 marketplaces, which will greatly evolve the fan experience and create long-term recurring revenue opportunities for artists, teams, and venues. Artists, teams, and venues that don’t adapt will get left behind,” said Josh Katz, CEO of Yellowheart.
“Providing fans with a technology that grants exclusive access to concert tickets and event-specific content is a real win for us; combining this with our focus on artist community tokens, exclusive album-connected NFT content, and the possibilities for creativity from here are endless,” he added.
Running ticket sales through an open-source blockchain via the new app and wallet will give artists and event organizers the ability to track the entire ticketing cycle, including monitoring secondary market resale and potential ‘scalping’.