- Professional fighters league (PFL) partners with CrossTower XRP-based blockchain company.
- VIP NFT tickets issued give a never-before-seen VIP experience for their June 23rd event.
- Web3 ticketing shows a new way for fans to engage with live events and experience real-world utility.
On May 23rd, the Professional Fighters League (PFL) press announced their partnership with CrossTower. CrossTower is a Global Web3 company built on the XRP Ledger (XRPL) that offers businesses real-world utility using blockchain technology. CrossTower is offering VIP tickets and experiences in the form of non-fungible tokens (NFTs), facilitated online and in their TicketVerse app, which is said to be coming soon. Current tickets available are for the first event of the season on June 23rd. This collaboration is a significant milestone for revolutionizing how fans engage with live events.
PFL
The PFL stated in their press post about the partnership that they are the #1 fastest-growing company in Mixed Martial Arts (MMA) and #2 globally behind UFC. However, specific sources point towards The ONE Championship being slightly ahead of the PFL. Regardless, the partnership is ground-breaking and further helps their path to disrupting the MMA landscape. The NFT tickets allow fans access to live PFL events, along with a new layer of exclusivity and collectability that NFT tickets naturally offer. Each NFT ticket will be unique, with full proof of ownership with the addition of real-life perks. Current perks boasted are backstage passes, meet-and-greets with fighters, and exclusive merchandise.
The PFL aims to ensure this NFT ticketing is seamless and secure, with the CEO of CrossTower saying, “CrossTower builds the NFTs on the XRP Ledger, an open-source, energy efficient, and decentralized blockchain powered by a global developer community. The XRP Ledger’s decade of proven enterprise-grade capabilities makes it a superior blockchain for this experience, both for PFL and their fans,”.
Leveraging NFTs in this way allows the PFL to build a direct and transparent relationship with fans allowing for better fan engagement which can boost revenue streams. Fighters may also have an opportunity to create their unique memorabilia, benefitting fans and fighters.
Future of NFT Ticketing
This partnership between the PFL and CrossTower represents a big step forward for the future of NFT ticketing. The essential purpose for integrating NFTs into ticketing is to enhance fan experience but also help the widespread adoption of NFTs and showcase the transparency and security benefits they can bring.
Traditional paper and digital tickets are easy to be replicated or counterfeit. This fraudulent activity leads to losses for both organizations and fans. NFTs are based on the blockchain; tickets using this technology will be unique, traceable, and secured by cryptography. In terms of the secondary market for reselling tickets, organizations have better leverage from NFTs to benefit from this market. At the same time, they miss out on this revenue due to third-party services.
For fans, smart contract capabilities within their NFT tickets open a new world of potential perks and benefits. Fans can be offered immersive and tailored experiences like how the PFL and CrossTower are showing; this will help foster better connections with fans of the sport they love.
This partnership with the PFL and CrossTower has set a powerful precedent for the sports industry. Being one of the first to embrace NFT tickets, other organizations may have more confidence to follow suit bringing on a new era of NFTs being integral to the ticketing industry and overall benefitting both fans and organizations.
