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The Olympia, its mythical concerts and soon its NFT. Yes, its NFT! The famous Parisian concert hall, which has seen the greatest artists since 1893, has just announced the creation of a series of 250 "non-fungible tokens" (NFT). The objective of these tokens offered at 100 euros each? Allow their (lucky) owners to access exclusive services "for life", including concert tickets 🎤.
Obviously, when you see such a project, you think of a good marketing move, and it is the case. With the announcement of its NFT collection, Olympia is surfing on the "Web3" wave and making people talk about it, but not only. Because NFTs, which we also hear a lot about in sports and gaming with companies like Sorare who just signed a partnership with Kylian Mbappé, are more than just good old access or subscription tickets. "It's a new form of relationship with customers," explains Stanislas Barthélémi of Blockchain Partner by KMPG.
An NFT is a token created on a blockchain. The most widely used is Ethereum, but others like the French Tezos also allow you to create them. Olympia's, developed with startup 🇫🇷 Tailor, are available on Polygon (a blockchain that builds on the security of Ethereum while being less expensive in transaction fees).
We can add features as we go along
The main feature of an NFT is that it is unique and therefore allows the identification and authentication of its owner. The other advantage is that NFTs are programmable. From its digital assets, Olympia will be able to add services such as discounts on tickets or admission to other venues. "The NFT can be linked to the digital wallet which allows to push live services and reward the most engaged fans", underlines Stanislas Barthélémi.
A sign of the trend, Olympia is obviously not the only player to enter the niche. "We're working with several festivals," confirms Robin Champseix, co-founder of Billy, a start-up that runs an NFT ticketing system. "With NFTs, tickets take on another dimension. It's no longer just access to an event, but access to multiple services." A few weeks ago, NRJ radio launched an NFT series that also provides access to concerts.
Loyalty and security issues
In addition to customer relations, the NFTs, which are unforgeable, make it possible to improve security. This is a subject that has been on the rise ever since the Champions League final at the Stade de France. At the end of May, thousands of English and Spanish fans from Liverpool and Real Madrid were blocked outside the Stade de France because of thousands of fake tickets.
To avoid a new fiasco, the singer Ed Sheeran, who organizes two concerts at the end of July at the Stade de France (July 29 and 30), has already announced that the tickets will be "secure" via a blockchain system. They will not be directly NFT, but "traceable" tickets managed by the company SecuTix. The tickets will be sent at the last moment to the spectators on their smartphone. If successful, the solution, already used for several events in the UK, could quickly become widespread.