Fansland, a company that aims to create the first and largest fan-to-earn platform, will issue tickets to its upcoming Web3 music festival as non-fungible tokens. The NFTs will serve dual functions: Holders will be able to trade them on secondary markets and the tokens themselves will serve as access to Fansland’s governance system.
The festival, which will take place in Bangkok, Thailand, from May 4th-5th, has two ticketing options: $128 for a one-day pass and $169 for a two-day pass. Users can mint the tickets on the company’s website using USDT or USDC, two stablecoins pegged to the U.S. dollar.
Fansland has gone to lengths to make this a true crypto music festival. Cryptocurrency will be the primary means for transactions, which allows for a higher degree of security and eliminates the need to carry cash in a crowded concert setting. There will be a metaverse concert experience as well, and the festival’s slogan is “We’re all gonna make it.”
PSY (Gangnam Style) will perform as the headliner on May 4th, while the duo Billkin and PP Krit will headline May 5th. Some of the other top artists performing at the concert include DICE (Illusion), DreamNote (Lemonade), Pretzelle (Never Give Up), and 8TURN (Tic Tac). Fansland has picked IMPACT Arena, one of Asia’s largest exhibition halls, for the venue.
The company, based in Singapore, aims to blend Web3 with artificial intelligence to engage fans around the world. It recently raised $10 million in a round led by IME, Linear Capital, and Falablock.
NFTs as Tickets: A Growing Use Case
While NFTs have gotten an undeserved reputation for solely being a way to make money, we here at Rarity Sniper have seen something very different over the past couple of years: the technology is being adopted for many real-world purposes. One of those is ticketing.
We’ve written several stories about different organizations and companies using NFTs to issue tickets, including some heavyweights that include global airlines and top magazines like Sports Illustrated. Here are some of the headlines from recent months:
- Ticketmaster to Hire Product Manager for NFT Ticketing
- OpenSea and Coachella Team Up for Music Festival NFTs
- Paris Hilton Invests in “Afterparty” NFT Ticketing Site
- F1 Ticketing Provider to Release NFT Series with IRL Utility
- Indian Railways Unveils NFT Train Tickets for Holi Festival
- Mardi Gras NFT Tickets Grant Restroom Access & Other Perks
- Argentinian Airline Issues Tickets as Non-Fungible Tokens
- Sports Illustrated Debuts NFT Ticket Platform ‘Box Office’
As these stories show, NFT tech is much more than speculation: It has the possibility to change the very way we go about our lives. Ticketing is one of those opportunities, a domain in which NFTs can lead to innovation, save money, and add more security.
That is a win in our book.