Brooklyn, New York, Sept. 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global NFT in ticketing market is expected to grow at a CAGR of 14.5% from 2023 to 2028.
NFTs (Non-Fungible Tokens) in the ticketing market are driven by the need for enhanced ticket authentication and security. They offer unique digital ownership of event tickets, reducing counterfeiting and fraud. Additionally, NFTs provide opportunities for artists, event organizers, and fans to engage in secondary market transactions, revenue sharing, and fan experiences, creating new revenue streams and fostering fan loyalty in the entertainment and sports ticketing industries.
Key Market Trends
- Digital Collectibles and Memorabilia: NFTs were increasingly used to represent digital collectibles related to events, such as unique concert posters, virtual backstage passes, or exclusive in-game items for gaming events. This trend allowed fans to own and trade digital event memorabilia.
- Integration with Blockchain Ticketing: Ticketing platforms were exploring deeper integration with blockchain technology to enhance ticket security, traceability, and anti-counterfeiting measures. NFTs were seen as a solution to provide verifiable ownership and reduce fraud in the ticketing industry.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global NFT in Ticketing Market - Forecast to 2028’’
Key Market Insights
- Based on event type, the music and concert segment held the largest share of the market as of 2022.
- As per the ticketing platform outlook, the secondary market segment will be the fastest-growing segment during the forecast period
- The Asia Pacific region is analyzed to be the fastest-growing region in the market
- The North American region is analyzed to have the largest share in the global market during the forecast period of 2023-2028
- The key players operating in the market are SeatLabNFT, GUTS Tickets, Wicket, Relic Tickets, TicketMint, YellowHeart, SquadUp & Sidechain, DeFy Tickets, Jeike Ticketing, and Get Protocol, among others.
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Event Type (Revenue, USD Billion, 2023-2028)
- Sports Events
- Music and Concerts
- Arts and Entertainment
- Conferences and Conventions
Ticketing Platform (Revenue, USD Billion, 2023-2028)
- Primary Market
- Secondary Market
Blockchain Technology (Revenue, USD Billion, 2023-2028)
- Ethereum-based NFTs
- Layer 2 Solutions
- Custom Blockchains
Payment Type (Revenue, USD Billion, 2023-2028)
- Cryptocurrency Payments
- Fiat Payments
Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of Central & South America
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East and Africa
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
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