But the product being sold in this example is a season ticket, not an NFT.
The NFT part of the product has no relevance to why it’s valuable. The valuable part is the promise by the event organizer to save a spot for you.
Every major sports team has had this product for decades. It’s literally the same thing as having season tickets to the White Sox or something. The blockchain has added no value to the transaction.
Hah, no it doesn't; anyone can mint what they claim is a season ticket right now. The buyer still has to verify that what they're purchasing is genuine.
On the other hand, it's probably easier for Coachella to maintain a public list of valid ticket NFTs than it is for them to maintain a P2P marketplace for items that change hands very rarely. And also it means that any fraud that occurs is Not Their Problem.
The NFT part of the product has no relevance to why it’s valuable. The valuable part is the promise by the event organizer to save a spot for you.
Every major sports team has had this product for decades. It’s literally the same thing as having season tickets to the White Sox or something. The blockchain has added no value to the transaction.
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