Avalanche Launches Avaissance to Boost NFT Ecosystem

The Avalanche Foundation has launched Avaissance, an initiative aimed at supporting digital artists and boosting the growth of the Avalanche NFT ecosystem. Avaissance includes two main components: the Artist in Resident program (AIR) for over 50 artists and the Mona Lisa Initiative (MLI) to curate digital art and expand the collections of art-focused DAOs. The AIR program will provide funding, mentorship, and virtual workshops for six months to artists of any skill level. Meanwhile, the MLI will collaborate with DAOs’ curatorial teams to promote emerging Avalanche NFT artists and establish an “Avalanche Permanent Collection.”

In other NFT news, Ticketmaster has announced a new feature called token-gated ticket sales, which allows artists to reward NFT holders with exclusive benefits such as special presales, prime seats, custom travel packages, and access to unique concert experiences. This functionality was developed after American heavy metal band Avenged Sevenfold (A7X) approached Ticketmaster and its Web3 team, Bitflips, for help implementing a service that would allow holders of its NFTs – Deathbats Club, a collection of 10,000 unique Deathbat NFTs – to unlock perks and access to events. The feature works with tokens minted on Ethereum and stored in decentralized application (DApp) wallets like MetaMask or Coinbase.

Patrick Amadon, a popular NFT artist, recently withdrew his work from a major auction house, Sotheby’s upcoming “Natively Digital: Glitch-ism” art sale, to protest a lack of female representation. He shared his decision with his 142,400 Twitter followers, and Sotheby’s responded the next day by announcing that it would pause the sale to “redress the imbalance in representation within the sale” and relaunch later with a “more equitable and diverse group of artists.”

Mike Winkelmann, also known as Beeple, recently shared a video with his Twitter followers, revealing his new 50,000-square-foot studio in South Carolina. According to Beeple’s website, he will use the space to create his artwork and host events to “showcase the very best art and communities.” The website stated that they are looking to partner with the most cutting-edge artists and communities to put on events that are not possible at any other venue.

On March 25, an NFT from the popular CryptoPunks collection valued at approximately $135,000 was accidentally burned by an investor attempting the process of NFT wrapping to potentially borrow liquidity from it. While the loss was unfortunate, it highlights the importance of proper education and caution when dealing with NFTs.


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Ticketmaster Partners with Flow Blockchain to Mint Live Event Ticket NFTs

American ticketing company Ticketmaster announced that it will enhance the fan event experience through digital collectable NFTs, and will mint ticket NFTs for selected events on Dapper Labs’ Flow blockchain, providing users with a new experience.

Ticketmaster will issue NFTs for event organizers to provide fans with live events before, during and after the event.

At the same time, fans can share or activate online through digital souvenirs to receive unique loyalty rewards, VIP participation opportunities and more.

Ticketmaster previously partnered with Flow to distribute more than 70,000 one-to-one virtual commemorative ticket NFTs as souvenirs at Super Bowl LVI, which are marked with each user’s unique seating location.

Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering. Ticketmaster EVP Brendan Lynch said

“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale. This is why we are partnering with Flow because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”

According to Dapper, in a pilot program, Ticketmaster minted more than 5 million Flow NFTs on the Flow blockchain in six months, including Apollo Theater, Gavin de Grau, Black Crow and Sebastian Maniscalco.

Mickey Maher, Senior Vice President of Partnerships at Dapper Labs, emphasized that the partnership with Ticketmaster will enable millions of fans of live events to immortalize, share and enhance their IRL experiences through digital collectables.

Image source: Shutterstock


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Ticketmaster Owner Firm Contemplates NFT Marketplace for Concerts

Ticketmaster’s parent company mulls entering the NFT space.

Live Nation Envisages NFT Marketplace

While the NFT tokens’ price movement in the crypto market might have come to a momentary standstill, companies across the world are not shying away from embracing the new tech to expand their business footprint.

According to a report by Ledger Insights, Live Nation – the company that owns the popular American ticket sales and distribution firm Ticketmaster – could soon be entering the novel NFT waters.

Recently, during Live Nation’s quarterly results announcements, CEO Michael Rapino spent a great deal of time discussing NFTs and blockchain technology. Rapino sees NFTs as another avenue to “cement that magic moment called the concert.” The Live Nation CEO envisages layering an NFT on a ticket via Ticketmaster.

Rapino added that NFTs could provide Live Nation “a great way” to engage with its fans using NFTs and leveraging them to establish a direct relationship with the customers to add rewards, perks, and souvenir moments.

This in, in fact, similar to NBA Top Shot – an NFT marketplace that has now reached $570 million in sales and offers “Moments” that are essentially video clips of memorable basketball shots.

Rapino added:

“We’ve all learned from Top Shot at the NBA. So we envision Live Nation with the marketplace and looking at some of the concert moments as magic moments that we could mint and attach to our ongoing ticket festivals and special moments.”

Rapino further went on to say that NFTs signify an important time for intellectual property owners.

Increasing Number of Firms Joining NFT Bandwagon

The NFT craze looks far from being over with an increasing number of companies joining in the movement.

In April, BTCManager reported that leading cryptocurrency exchange Binance had announced that it would soon be launching a BSC and Ethereum-compatible NFT marketplace.

Similarly, supply chain-focused blockchain project VeChain recently announced it had committed $1 million towards the development of an enterprise-geared NFT ecosystem.

In recent news, BTCManager reported on May 5 that dCanvas, the world’s largest collaborative art project is poised to make its limited-edition NFTs accessible to the public.

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