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NEW DELHI : Ticketing platform YellowHeart has announced the launch of an NFT (non-fungible token) ticketing mobile application called YellowHeart Wallet that eliminates the need for a physical ticket in a bid to cut out middlemen that seek to profit from tickets resale of live events and concerts.

The wallet connects users directly to its Web3 ethereum-based NFT  ticketing platform and marketplace.

The wallet enables credit card fiat and cryptocurrency payments via Ethereum and Polygon integration, to be used for live event NFT ticket purchasing and on-site redemption and integrates with on-site activations and the concert-going experience.

Fans who hold an artist’s community token or have previously purchased NFTs from an artist, creator, or event producer via YellowHeart’s Web 3 NFT marketplace, can now receive benefits that come with purchasing and using NFT tickets like exclusive in-app content, surprise access to private events, and collectible NFT tickets.

“The app allows fans, artists, and venues to interact with Web3 marketplaces, which will greatly evolve the fan experience and create long-term recurring revenue opportunities for artists, teams, and venues. Artists, teams, and venues that don’t adapt will get left behind," said Josh Katz, chief executive officer of YellowHeart.

Running ticket sales through an open-source blockchain via the new app and wallet will give artists and event organizers the ability to track the entire ticketing cycle, including monitoring secondary market resale and potential ‘scalping’.

The Polygon-powered NFT tickets also connect to the rest of the YellowHeart ecosystem, meaning fans who have purchased an NFT in the past, or are in some way connected to an artist’s tokenized community, can be granted exclusive access or partner opportunities such as discounts at selected stores or restaurants before or after a show, access to private events, exclusive meet and greets, and more.

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