The event industry, which plays a crucial role in fostering connections, culture, and education, is facing ongoing challenges that are affecting its effectiveness and reputation. One of these challenges is the issue of ticket fraud, which continues to be a problem and is expected to double in 2023.
Another pressing issue is the struggle to engage attendees in a meaningful way. In today’s digital age, where people are increasingly interacting and consuming content online, many events are failing to capture and maintain the attention of their audiences. This lack of engagement is particularly evident in the difficulty of creating anticipation before an event, maintaining live interaction during the event, and continuing the conversation after the event.
These challenges are compounded by the inefficiencies of traditional ticketing systems, which are often inflexible and slow to respond. This leads to a frustrating experience for users, with complicated purchasing processes, entry delays, and a one-size-fits-all approach that doesn’t meet the diverse needs of event-goers.
However, the integration of blockchain technology could provide a solution to these traditional ticketing problems. By utilizing blockchain technology, response times can be sped up, flexibility can be enhanced, and personalized experiences can be offered.
Belong, an app that provides access to events, conferences, and content using token-gating, is introducing a solution that leverages the power of nonfungible tokens (NFTs) to revolutionize access to various experiences. With Belong’s token-gated access, event organizers can sell NFT passes that serve as keys to exclusive offerings. These passes are issued as NFT tickets, providing a verifiable solution that prevents ticket fraud and unauthorized duplication. The transparency and immutability of blockchain technology ensure that each ticket is unique and cannot be replicated. This also reduces the risk of counterfeit tickets entering the market, restoring trust and confidence among participants and organizers.
In addition to enhancing security, Belong’s platform also enhances attendee engagement. It integrates features such as private chat rooms, personalized event schedules, and community connectivity, creating a sense of belonging among event-goers. These social features go beyond the physical and digital boundaries of the event, providing an interactive participant experience that traditional ticketing systems have struggled to achieve.
For organizers, Belong charges a minimal 2% fee on ticket sales, allowing for instant payouts and fundraising opportunities. Tokenized access also enables increased profitability through royalties from secondary sales, enhanced marketing efforts through data collection, loyalty rewards, and seamless integration with modern technology.
Belong has recently joined the Cointelegraph Accelerator program, which aims to support promising Web3 startups. The program, with the extensive media reach of Cointelegraph, will help boost Belong’s innovative solution to the challenges faced by the event industry, which is projected to reach $2 trillion by 2028.
Currently available on iOS and the web, Belong plans to expand to Android. The platform has experienced 50% month-over-month growth and has already garnered 20,000 users and over 1,000 communities. Belong aims to replace conventional keys, tickets, and memberships with unforgeable, social, and collectible NFTs that reward creators and eliminate speculators.
To learn more about Belong, visit their website.