The app has been integrated with Avalanche NFT, giving users the opportunity to purchase concert tickets in the form of NFT tokens. Users can not only buy tickets but also earn them through the loyalty program.
OK Cashbag, the Korean Way of Concert (Web3) Revolution
South Korean company Dreamus is a giant in the entertainment and events industry. Together with SK Planet, they have developed a new loyalty program for the OK Cashbag app.
What’s more, the app has been integrated with the Avalanche blockchain and NFT tokens. Thanks to this integration, users can now buy tickets to K-pop concerts and other music events in the form of Avalanche NFTs.
It’s worth noting that OK Cashbag is a very popular app, serving as a combination of a loyalty app and a platform for simple mobile games. It has over 10 million downloads on the Google Play store alone.
Truly revolutionary, however, is the idea of selling concert tickets as NFTs. These NFT tickets are already available for this year’s Seoul Jazz Festival and the musical “The Phantom of the Opera.”
Justin Kim, Head of Ava Labs, points out that NFT tickets will help combat the problem of bots and scalpers – individuals who buy tickets in bulk to resell them at higher prices.
Kim emphasized that this practice harms both artists and fans, making NFT tickets a potential game-changer.
Web3 Gaining Popularity in the Mainstream – Dreamus Isn’t the First
Dreamus’ decision is not the first step towards popularizing Web3 in Korea. Not too long ago, the Korean group Blackpink, which created its own metaverse for its fans. It’s worth noting that the implementation of Web3 and NFT tokens is becoming increasingly noticeable in the mainstream.
NFT tickets are a perfect example of how blockchain technology can address the challenges faced by both artists and fans.
So, could NFT concert tickets soon become the norm? It’s very likely, considering that more and more industries are embracing blockchain technology and Web3.
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