How does NFT work for Ticketing?

NFTs are unique digital tokens stored on the blockchain. Once they are created on the blockchain, they can be sold to customers digitally. Customers then store NFTs in a secure wallet that can be accessed on any device.

In the ticketing system, event organizers can mint the required number of NFT tickets on their choice of a blockchain platform. They can code the NFTs to set a sale price or run the sale as an auction where people can start a bid for tickets.

Customers then purchase NFT tickets and keep them in their wallets that can be accessed from their mobile devices. Once they visit the event, they produce NFTs.

A buyer books the NFT-based ticket and pays the ticketing amount to the ticketing company. On receiving the payment, the smart contract triggers and an NFT ticket is sent to the buyer from the ticketing database.

The ticketing company requests to upload the ticket on the IPFS. Hash is calculated by IPFS and tickets get stored on the database. NFT tickets are created and uploaded to the requested NFT marketplace.

Ticket owners can also resell NFT tickets on the NFT marketplace. The ticket is stored in a smart contract. Once a buyer buys the ticket, the smart contract triggers and the payment is sent to the seller automatically.