NFTs as access keys NFTs are changing the game for how events provide access and premium experiences. There was some unprecedented excitement around digital assets, especially with Coachella’s 2022 NFT ticket debut. They provide NFT holders more than just access—they deliver one-of-a-kind experiences or thrilling benefits. Blockchain Magazine further discussed the wide-ranging uses of Experience NFTs, showcasing their potential in multiple industries.

Coachella's Pioneering Use of Experience NFTs

Experience NFTs showed their true power through Coachella in 2022, providing NFT tickets that included lifetime access to the festival. The auction of these NFTs unleashed an unprecedented storm of virtual pandemonium across digital art marketplaces. It took only hours for the small collection to sell out in its entirety! This event highlighted the popularity and interest in special experiences related to digital assets.

The success of Coachella’s NFT tickets showed the world the potential for Experience NFTs to change the face of event ticketing. These NFTs gave more than admission, they gave true, lasting value. This developed a very personal connection between the festival and its most ardent supporters. The hype created by the resale did even more to build Coachella’s brand and lure that new audience in.

Smart Contracts and Exclusive Access

Smart contracts are the key to how Experience NFTs work, giving event organizers and creators the power to dictate access and maintain exclusivity. For example, a smart contract can be programmed to restrict access to a limited number of VIP passes, guaranteeing a premium experience for select holders. This technology better guarantees that only verified NFT owners can gain entry to exclusive in-person or virtual events.

Make NFT passes provide a wide range of perks. Receive benefits such as backstage access, meet-and-greets, exclusive merchandise, customized experiences and more! Event organizers can use smart contracts to customize access for each NFT holder. This makes for a mystique that produces tiers of exclusivity which improves the event experience for all parties. The opportunities are limitless, and organizers are still discovering innovative ways to use this technology.

Versatility Across Industries

Coachella’s NFT passes just serve as an admission ticket to the festival. Experience NFTs have the potential to be so much more beyond music festivals. Other platforms are showcasing the versatility of these digital assets across various industries, from sports and entertainment to education and business. This wide applicability indicates tremendous potential for further growth and innovation.

NFTs have incredible power to create exclusive events, whether in the virtual space of Discord or IRL. NFT tickets provide an immutable, traceable method to give and authenticate event access. Whether it’s a private concert, members-only club or corporate retreat, these tickets turn every guest list into a smooth drop down. In short, the technology provides a powerful and flexible tool to create fun and engaging experiences that stand out to participants.

NFT tickets are more than just festivals. In addition to all of these uses, you can use them for pretty much any event where exclusivity and verified access are important. Major industries are exploring the innovative space of Experience NFTs. Once they do, we’ll see a tsunami of forward-thinking use cases that will change the way we discover and experience everything from concerts to conferences.