South Korean entertainment company Dreamus, in collaboration with SK Planet, launches secure NFT ticketing service for various events.
- Dreamus introduces a unique NFT ticketing service for diverse events including K-pop concerts.
- The NFT tickets, based on the Avalanche platform, feature activation QR codes, enhancing security.
- The adoption of NFT tickets can mitigate challenges posed by bots and scalpers in the ticketing industry.
- Dreamus, in collaboration with SK Planet, is set to launch a secondary marketplace for NFTs, focusing on added features and loyalty benefits.
South Korean entertainment and events company Dreamus, a subsidiary of SK Planet, is making its entry into the blockchain space by offering NFT ticketing services through its parent company’s rewards app.
South Korean Company Dreamus Unveils NFT Tickets on Avalanche Blockchain for Events and K-Pop Concert Experiences
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NFT Tickets for Various Events
Dreamus’ app enables fans to purchase tickets for a range of events, including K-pop concerts and other shows, in the form of Avalanche NFTs on SK Planet’s private Avalanche subnet, which was launched earlier this year. Currently, Avalanche-based NFT tickets are available for the Seoul Jazz Festival and the musical “Phantom of the Opera.” Although NFT tickets for the K-pop Superpop Festival were initially offered, they had to be canceled due to an unforeseen incident during stage installation, according to the event’s official website.
Dreamus’ NFT tickets have a unique feature – they display a QR code that activates on the day of the event. Additionally, these NFTs are different from regular ones found on platforms like OpenSea, as they are only visible to the purchaser. This ensures that unauthorized entry using someone else’s NFT is prevented.
The Advantages of NFT Tickets
Justin Kim, Ava Labs’ Head of Korea, highlighted the benefits of NFT tickets in an interview. One key advantage is that NFT tickets have the potential to solve the long-standing issue of bots and scalpers in the live event ticketing industry. Kim explained that the presence of bots and scalpers not only hurts artists but also affects the emotional experience of fans. Blockchain-based NFT tickets can be customized with features that prevent resales or impose restrictions on resale prices, giving artists greater control. SK Planet’s Chief Business Officer, Gyosu Kim, also pointed out that blockchain-based tickets serve as an effective tool against scalping. The onsite authentication process improves the overall event experience for attendees.
To Sum it All Up….
Various crypto startups are venturing into the NFT ticketing space. Sports Illustrated Tickets on Polygon and Get Protocol on Tezos are among the companies exploring this field.
Dreamus and SK Planet, a subsidiary of South Korea’s largest wireless carrier, SK Telecom, have plans to launch a secondary marketplace for NFTs later this year. This marketplace will offer loyalty benefits and additional features. Justin Kim noted that Korean business enterprises are increasingly recognizing the potential of blockchain solutions, with growing adoption at both retail and business levels.
