The Ticketmaster failure: can Web 3.0 NFT blockchain ticketing fix problems with event ticketing?

Episode 30 - The Ticketmaster failure: can Web 3.0 NFT blockchain ticketing fix problems with event ticketing?

I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.

First things first let’s talk about the elephant in the room, Ticketmaster. I want to start by giving a bit of a backstory to what led to where we are today with the ticketing giant. A few weeks ago there was a huge mishap in the event ticketing world specifically involving Ticketmaster and Taylor Swift fan’s. The trouble started when registered fans received codes for a pre-sale for Taylor Swift's newest tour. Ticket buyers were met with long delays and error messages that Ticketmaster blamed on bots and historically unprecedented demand. Many wanting to buy tickets walked away frustrated and empty-handed.

Ticketmaster acknowledged a “staggering number of bot attacks,” occurred while fans were trying to get tickets as well. This created problematic questions like who was actually getting the tickets — Swift fans or scalpers hoping to make a profit on the resale market? And at this point Ticketmaster said it was canceling its general public sale because of “high demands on ticketing systems”. This has set off a firestorm against Ticketmaster where some second hand tickets were being priced at $28,000. But this isn’t the first time Ticketmaster has been a problem for artists and fans either. Listen to the full episode for more information.

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