NFT Ticketing Platform Development- A Comprehensive Guide

NFTs have come a long way technically and are rapidly evolving from an extraordinary rarity to one of the most popular business sectors with enormous potential. NFT ticketing platform development is the new approach that has revolutionized the ticketing industry. Talk shows, meetings, concerts, movie tickets are some typical events that are supported by NFT ticketing marketplace.  The NFT Ticketing Marketplace solves common pitfalls faced by traditional ticketing methods by creating a new NFT Ticketing Project that helps individuals transact event tickets online. As NFT tickets bridge the gap between fans and their favourite artists, many individual entrepreneurs are starting to create their own NFT ticket market. Driven by profit, creating a worthwhile NFT ticket market in this modern age pays off. 

Features of the NFT Ticketing Marketplace

• Attractive UI
• Wallet integration
• Notifications and alerts
• Profile management
• Event page
• Listing portal
• Checkout portal

Development of NFT ticketing platform

If you are a business owner/entrepreneur and want to know how to set up your NFT ticket marketplace, you have come to the right place. When it comes to developing an NFT ticket marketplace, TurnkeyTown is the best. We provide a fully configurable out-of-the-box solution, using state-of-the-art technology to develop an NFT ticket marketplace. 

NFT Ticketing Marketplace Development Process 

Planning And Design

This is the first phase where we develop a comprehensive plan for your NFT ticketing marketplace. Our team will gather all your requirements and ideas, analyse its feasibility and will provide you with a complete roadmap for your NFT ticketing marketplace development. The roadmap will contain the development process, tech stacks used. 

White-paper Creation:

Our team of technical writers will write the white-paper which clearly delivers your business vision and mission statement. This technical document will contain A to Z information regarding your business along with its future scope. 

Prototype Creation:

In this step, our experts will compile the prerequisites of your NFT ticketing marketplace and provide you with a prototype. After you approve the prototype our team will begin with the development process. 

Front-end development 

Front-end development is paramount as it gives users their first impression of the platform’s interface and enables a seamless experience. 

Blockchain Technology

We provide a range of blockchain technologies to choose from. You can choose the one that suits your business requirements.

Back-end  Development

Backend development is done through smart contract integration. A smart contract is defined as a set of predefined rules or programs that automates the process and frames the execution of trade ticket NFTs. 

Testing

After the design and development phase is complete, Our testers test the ticketing marketplace to detect technical issues and defects. If any issues are found, they are fixed to ensure seamless performance.

Launch

Finally, your marketplace is launched in the market and is made available for users.

Post Launch Support

We provide our clients with post launch support to help them with any technical shortcomings and suggest improvements. We also provide marketing support in order to make your platform reach the right audience. 

How do NFTs work in ticketing?

Unique digital tokens known as NFTs are created on the blockchain. After being generated on the blockchain, it can be sold digitally to customers. Event organizers can use their preferred blockchain platform to create as many NFT tickets for the event as needed for their event. They can program NFTs to set selling prices or conduct auctions where tickets can be bid on.

The customer can then purchase an NFT ticket and store it in a mobile-accessible wallet. The tickets are first in the form of semi-fungible tokens. After they attend the event, the semi-fungible token becomes non-fungible token. Buyers order NFT-based tickets and pay associated fees to ticket sellers. When the payment triggers the smart contract, the NFT ticket is delivered to the purchaser from the database.

The ticketing company asks permission to upload the ticket to their IPFS. Tickets are hashed by IPFS and stored in a database. Your preferred NFT marketplace will receive NFT ticket creation and uploads. Ticket holders can also sell their NFT tickets on various other NFT marketplaces. A smart contract contains a copy of the ticket. When a buyer purchases a ticket, a smart contract is triggered and payment is automatically sent to the seller.

Advantages of NFT ticketing

The trending ticketing system has many benefits for both event organisers and consumers

Avoid fraud and counterfeit tickets

NFTs are immutable and blockchain technology is completely transparent which can be trusted as the intermediate between the ticket buyer and ticket seller. All the parties can verify the authenticity of the tickets. From first sale to secondary sales, the transactions are recorded on the blockchain and can be easily accessed. This eliminates any fraudulent activities.  

Save money

Traditional ticketing systems can be very laborious when compared to NFT ticketing systems. Anti-counterfeit tickets can be minted and sold online and at an affordable price. 

Productivity

The NFT tickets can be listed on various NFT marketplaces making it easier for event organizers to sell tickets. The NFTs can be minted and be available for sales in less than a minute. 

Secondary Sales:

The NFT tickets can be sold on various platforms which enables ticket holders to earn profits and the event organizer can get royalty benefits for subsequent sales.

Conclusion:

We have experts in developing NFT ticket marketplaces that provide industry-specific business solutions for your business needs Contact our experts today to create your own NFT event ticketing platform . As a leading NFT marketplace development company, we provide the best NFT ticketing platform solutions to improvise live event experiences for fans.