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Evans
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NFT tickets revolutionize concert and sports event ticketing by leveraging blockchain for transparency and security. They prevent fraud with tamper-proof ownership records, reducing fake tickets. Smart contracts curb scalping by setting resale rules, like price caps or revenue sharing for organizers and artists. NFT tickets enhance fan engagement, offering exclusive perks like backstage access, digital collectibles, or metaverse experiences. They also enable new revenue streams through secondary market royalties and lower issuance costs compared to traditional tickets. However, challenges include technical barriers, as users need digital wallets and crypto knowledge, limiting adoption. Scalability issues, like blockchain network congestion, and low market trust (only 15% fully trust NFTs) pose hurdles. Regulatory uncertainties also complicate compliance. Examples include YellowHeart’s NFT tickets for Maroon 5 and Binance’s collaboration with Lazio FC. As Web3 and digital wallets grow,
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