Events are an integral part of our lives as social animals. The magic of meeting people, soaking in ideas, and giving yourself into serendipity is unparalleled. Covid managed to keep us within our homes, but this magic never went away. We just moved the meetups from physical spaces to online metaverses!
Who would’ve imagined meetings in a topdown metaverse like Gathertown would be so much fun!
With the changed perspective on how events can be conducted and the exponential growth of the web3 space, it was just a matter of time before both came together to take the experience to next level. Now that offline meetups are also back on the menu, the possibilities here are near endless! And we believe that NFTs will be leading the charge on revolutionizing how you will create and experience events.
Disrupting the Events Industry
The applications for NFTs in events are unfathomable and it has the potential to disrupt the entire events industry. NFTs will soon become entrenched in live, virtual, and hybrid events hence allowing us to build experiences like never before.
NFTs can represent physical assets like art, rare bottles of wine, music, or even land – both in the real world and virtually. But they can also represent experiences through embedded utility. For example, imagine planning an event for a group of attendees. NFTs can provide exclusive access to the best parts of the event, such as a private dinner, a VIP section at the venue, or even a personal concert from a top performer.
What makes NFTs desirable for events
NFTs can be easily made and be programmed to have specific properties or embedded utilities, for example, the creator can make a small revenue every time the NFT is resold.
Embedded utilities allow organizers to offer unique experiences to the audience, this could include exclusive access to certain parts or even event memorabilia. Brands may also use NFTs to partner with artists to bring a unique digital experience to consumers.
Another desirable feature is that ownership is provable and there is complete record of it on the blockchain making it 100% safe, this provides a sense of ownership and they become valuable or carry some meaning to the person.
Selling or gifting NFTs does not require a ticketing website, notorious for imposing hefty fees. Selling an NFT on Polygon, for example, is much less expensive than using a traditional ticketing platform and doesn’t require any extra effort beyond the creation of your NFT. This gives you more control over your costs – which means that you can keep everything else about your event the same while increasing the profit margin.
Ticketing with NFTs
Using NFTs for ticketing is a game-changer. First, the ticket’s code lives on the blockchain, so authentication is more rock-solid and you can prevent resale fraud and even earn a commission when the original owner resells their NFT ticket while also effectively blacklisting scalpers.
Using NFT tickets makes it cost-effective, ticketing sites have set costs and typically take a high percentage of each ticket sold, however, building and minting NFTs can be created for less than a couple of dollars if structured correctly.
Tickets in the metaverse are also dynamic, so you can update their information or let your attendees exchange them for different NFTs that unlock free swag.
The Layer-E Ticketization Module does all this and more!
Swags and Merch
NFTs as event merch is the most obvious application, and organizers can get extremely creative with these as NFTs can be individualized for each person. NFTs as virtual swag helps mitigate shipping costs follows sustainability initiatives and ensures each gift is completely unique.
You can sell NFTs themselves as swag, these can even be translated into Phygitals allowing us to take the URL→ IRL and to make it even more exciting imagine all the swag you could embed into them and it could serve as future signposts.
In a virtual and hybrid world, we have to rethink how we show our attendees recognition, and the whole thing about NFTs is scarcity. Custom digital badges, GIFs, virtual clothes and awards in addition to tangible mailers elevates the experience while translating to virtual and hybrid experiences.
The Layer-E Phyigtals Module and QR Module has all these features and we’re working on more exciting things!
Capturing Live Memories
Live Minting of event memories is such a unique and fascinating experience for both the creator and the audience as it allows you to create NFTs in real-time and the audience can also be a part of the minting process.
Modern technology allows us to take, save and share pictures quickly and easily but we also very easily lose these pictures in the clutter. Imagine going to an event and being able to immortalize your experience and memories from that event on the blockchain and even maybe own an NFT of those very same memories, well we make all of this possible with the Layer-E Live Mint Module.
The Layer-E Event Suite
Layer-E has been changing the trajectory of how live events take place from ETHDenver2022 to NFTPune and most recently at SXSW2022.
We believe that NFTs increasingly represent a major component of the events industry and can potentially change the future. They present increased marketing and revenue opportunities, as well as the chance to enhance event attendee experiences.
The Layer-E Event Suite is what you are looking for if you want to incorporate NFTs into your events and elevate the entire experience, combining all the utilities you’d need for your event.
Layer-E has powered some very unique experiences for the audience at events and we loved every minute of it. This is just the beginning for us. Come along with us in this journey to get early access to the Layer-E Event Suite and much more!
Layer-E is the leading Collectible Relationship Management product suite in web3 built for creators, companies and fandom to turbocharge revenue and reach. Interested in being part of our exclusive club of launched brand including Coinbase, Flipkart, Mercedes and more? Get in touch with us here to build your Collectible Relationship strategy with us.