Avenged Sevenfold, a heavy metal band with a significant global fanbase and millions of albums sold, is making waves in the Web3 space. The band has launched its own NFT-based club and is assisting Ticketmaster in implementing token-gated ticket sales. As a result, Avenged Sevenfold is arguably the most prominent music act currently operating in this space.
The band’s adoption of NFTs
The lead vocalist of Avenged Sevenfold, Matt Sanders (also known as M. Shadows) is known for his keen interest in NFTs and membership in the CryptoPunks and Bored Ape Yacht Club. In a recent interview, the band’s representative provided insight into the band’s adoption of NFTs and their continued interest in the technology, despite its fluctuating popularity and unstable market conditions. The representative explained how the band initially embraced NFTs and elaborated on their ongoing efforts to incorporate the technology into their work.
Sanders thinks that the recent push can be seen as a strategic move in a larger game plan. The Deathbats Club, which consists of 10,000 Ethereum NFTs, was initially created to act as a unifying element for more extensive schemes.
In a move aimed at educating fans and providing them with a solid foundation, a set of collectibles was released in December 2021. Each item in the collection boasts a distinctive bat illustration and was launched outside of an album release cycle. Members of the Deathbats Club are granted access to a plethora of exclusive merchandise, ticket giveaways, and are able to join a devoted online community that includes the band’s very own members.
According to Sanders, the band’s successful establishment of the token and subsequent community building has enabled them to engage in discussions with major players within the music industry regarding their next steps.
Avenged Sevenfold to launch a ticketing platform
The individual cited Ticketmaster, Spotify – a leading music streaming platform, and Shopify – an online shopping platform, as the types of companies that must come aboard to offer genuine value to stakeholders. Each of the three companies has explored the realm thus far, incorporating features such as facilitating NFT transactions, distributing collectibles as giveaways, or providing token-gated perks.
In a groundbreaking move, Ticketmaster has become the first major player to join forces with Avenged Sevenfold and its Web3 tech partner Bitflips. The collaboration was announced in March and has resulted in the launch of a ticketing platform that features NFT-gated ticket sales integration. In a groundbreaking move, Avenged Sevenfold has become the first band to provide fans with the option to access a unique feature. The band has already tested the feature with great success prior to its official public release.
Sanders believes that the idea of using pure Web3 tickets, which are essentially pure NFT tickets, may be too advanced for people at this time. According to the source, the decision to require concert-goers to possess a MetaMask wallet in order to attend a performance at The Forum or Madison Square Garden was deemed unfavorable.
Avenged Sevenfold has a broader goal in mind beyond catering solely to its collector base of approximately 5,300 distinct Deathbats Club NFT holders. Avenged Sevenfold is inviting all of their fans to join them on their journey, and they have been making significant strides in their Web3 endeavors in the past few months. The band is offering free NFT mints and passes that grant tokenized utility to anyone who interacts with them.
Avenged Sevenfold held a significant alternate reality game (ARG) earlier this year, which tasked fans with deciphering clues from both digital and real-world sources. The objective was to uncover information about the band’s forthcoming album, “Life Is But a Dream…” According to Shadows, fans were able to mint more than 900,000 NFTs for free on the Ethereum scaling network Polygon as part of the experience.
In response to Ticketmaster’s initial announcement, Avenged Sevenfold has launched TicketPass, a Polygon NFT that is available for free claiming. This NFT allows fans to gain access to token-gated sales, although Deathbats Club members will be required to pay.
Avenged Sevenfold and Bitflips have launched a new initiative to reward their most dedicated fans who consistently engage with the band. This initiative includes attending concerts, purchasing physical merchandise, listening to streaming music, and other potential tie-ins to come. In due course, the most engaged followers of Avenged Sevenfold will reap greater rewards within the band’s ecosystem.
Bitflips founder Joe Totaro likened their program to a rewards program that has been taken to the next level.
The objective behind these endeavors is to avoid compelling fans to purchase NFTs or manage cryptocurrency. According to Sanders, the band has introduced a bonus feature that utilizes blockchain technology. This feature serves as an incentive for fans, providing them with exclusive opportunities and potentially deepening their bond with the band.
As per his affirmation, it does not require the fan to undertake any additional action beyond their current efforts.
According to Sanders, there has been interest from other artists to launch a program similar to TicketPass and the Ticketmaster integration, since its launch. According to the band’s statement, while other bands were enthusiastic about NFTs during the time when prices were soaring, they did not receive any communication from anyone once NFT sales and prices began to decline last year.
Avenged Sevenfold’s lead singer is advocating for a new ticket-buying model that prioritizes fans over scalpers. He believes that achieving this goal will require more artists and bands to embrace new technology and take control of the situation themselves.
“I think it’s going to take some people with big balls to kind of jump in and go, ‘OK, we see what’s happening here,’” Sanders said. “We’re seeing an opportunity here where we can really mold what the landscape looks like for the artists—because it’s coming from an artist. We don’t want to let that opportunity pass us by.”
Content Source: decrypt.co