The Exit festival is offering tickets for its concert online, which can be purchased using Bitcoin. It's the first music festival on this scale to offer a service like this. What's more, you can immortalise the highlights of a concert straight away! The service is provided by Live Nation. So check out these recent innovations enabled by crypto, to revive the music sector.
The Exit festival: between crypto and music
The mayor of the city of Novi Sad has confirmed that the long-awaited annual festival will indeed take place this summer, from 8 to 11 July. This is excellent news for music fans and festival-goers who look forward to the event every year.
The festival will be held in Serbia, and all the health conditions will be in place to guarantee the safety of participants. The government has set up a massive vaccination campaign to help ensure that the event runs smoothly.
This vaccination campaign should help reassure festival-goers of their safety during the festival and reduce the risk of the virus spreading. The festival organisers have also put in place additional security measures to ensure the safety of all participants.
The Novi Sad festival is known as a major event on the music scene, and at its last edition welcomed almost 200,000 people. This year, it is expected to attract a similar crowd of music fans from all over Serbia and beyond.
An exceptional site
Exit festival was born in 2000, so it's celebrating its 20th anniversary this year, since last year's edition didn't take place. The festival's original line-up is sure to attract fans of techno, house, EDM, hip-hop and rock. What's more, the biggest names in the music world turn up every year, much to the delight of audiences from all over the world. Novi Sad has also been named European Capital of Culture for 2021. It also offers a unique cultural experience. With its many museums, exhibitions and fortresses, Novi Sad boasts a rich historical heritage.
Diversifying activities
Following an announcement on 13 May on the official Exit.org website, you can now buy tickets in Bitcoin. At the same time, the Exit group expressed its eagerness to "join the crypto revolution". More precisely, it's a small technological revolution that's not just about following fashion. The Exit Group intends to diversify its activities in the crypto assets sector. As a result, the public will be able to move into this digital world in the same way as the festival.
The company's CEO, Dušan Kovačević, has no intention of stopping there. He recently announced his desire to broadcast key moments of the events using blockchain technology. These innovations are attracting the interest of many musicians and artists, such as Eminem, who recently took advantage of this blockchain system. There's also the rock band Kings of Leon, who recently released their album as an NFT. The Exit festival is thus joining Live Nation's initiative, which is also offering to do so while earning NFTs.
Live Nation and crypto assets
Live Nation crypto music
As for Live Nation, it is offering to rebroadcast concerts to a very large number of spectators thanks to NFTs. The Live Nation group is a major event promoter. The company is now the world's leading concert and entertainment company. It also owns a number of other companies in the sector. These include Ticketmaster.com, Live Nation Concerts, Front Line and Live Nation Network. It was Ticketmaster.com that came into contact with Live Nation for this event.
The two companies worked together to enable thousands of concert-goers to watch concerts via NFT. Ticketmaster.com is an e-commerce platform for event ticketing on an international scale. This online sales site has almost 27 million visitors per month. Live Nation will also be generating sales of around $2 billion in the first quarter of 2021. Sales are exploding for the events leader, so it's no surprise to see such an initiative. The crypto sector is piquing the interest of many fast-growing companies, so they're hoping to win the loyalty of an even wider audience.
NFTs: crypto at the service of music
NFTs are non-fungible tokens. In short, they are tokens that are unique and interchangeable. These tokens are very different from the tokens of traditional currencies such as Bitcoin or Litecoin. These currencies are considered to be utility tokens, which are fungible, like NFTs. These NFTs will bear the effigy of NBA Top Shot. It was through NBA Top Shot that the company learned about the workings of the blockchain universe. The company's CEO was inspired by the game, which has generated sales of $570 million since its launch. In the way it works, the game has decided to capture precise moments of the match and reproduce them in the form of NFTs to be meticulously preserved as memories.
In addition, Live Nation CEO Michael Rapino outlined the company's initiatives during the half-year results call. He said: "We think this is a great way for us to improve engagement with our fans. This direct relationship makes it possible to add rewards, benefits and support to remember attendance at an event." In the near future, Live Nation plans to use NFTs to make it easier to attend and remember an event. Thanks to the Live Nation platform, each ticket will be linked to its own NFT. This is how spectators will be able to enjoy the show or concert and keep a unique memory of it, while collecting an NFT.
Crypto to the rescue of art
The Covid crisis has hit the arts sector hard. Between government restrictions and barrier gestures, the artistic world has become difficult for the public to access. Numerous initiatives have therefore been launched to save these artistic sectors and events. This is how cryptocurrency came into being. Thousands of private individuals, collectors, companies and investors are involved. However, very few have ever thought of bringing these two worlds – blockchain technology and art – together.
Among the many initiatives on show are NFT hunts in the streets of Bordeaux and artists working with PSG. The aim is to reinvigorate the sector by putting works up for auction and attracting the interest of collectors. As for cryptocurrencies, they will be able to reach more and more people and attract future consumers.
