NFT Ticket

Incode

December 12, 2022

NFT Ticket Authentication: How It Can Protect Your Event Security

Non-Fungible Token (NFT) tickets use encryption to verify ticketholders and prevent fraud. Combining NFT ticketing with biometric authentication methods such as facial recognition provides one of today’s most secure methods of safeguarding event ticket sales.

Here we’ll introduce you to the essentials you need to know to start using NFT tickets:

1. We’ll define what an NFT ticket is. Then we’ll look at how NFT tickets work and how they differ from conventional tickets
2. We’ll review the advantages of using NFT ticketing companies
3. We’ll explore how combining NFT with cutting-edge technology such as facial recognition can enhance your event security

What Is an NFT Ticket?

Non-Fungible (non-interchangeable) token tickets use blockchain encryption to provide ticket buyers with unique digital codes which can be used to authenticate ticket purchases. This is designed to make tickets difficult to forge, reducing phony ticket sales and improving event security.

Blockchain is the technology underlying NFT tickets. Blockchain technology makes forgery difficult by creating a linked set of encryption-protected digital records. Each record in the chain is timestamped with transaction data and connected to the previous record by a one-way mathematical code that can’t be reversed. It creates an unalterable, verifiable chain of ownership that can be traced back to the original record to verify the authenticity of the chain. In the context of event ticketing, blockchain encryption serves to verify the authenticity of ticket purchases.

How Do NFT Event Tickets Work?

Each NFT ticket has a unique digital signature that can be traced from the ticketholder through blockchain back to the original seller. This allows ticketholders to be authenticated while preventing tickets from being forged through typical physical methods.

In practice, NFT ticketing systems are combined with smartphone cameras and facial recognition to authenticate ticketholder identity. For example, with Incode ID, the process works like this:

• The ticket buyer purchases a ticket and registers online with their identifying information
• The ticketholder scans an identifying credential such as a driver’s license photo ID in with a smartphone camera, and the ID Capture feature authenticates the identification document and automatically fills in the registrant information
• The ticketholder takes a selfie to verify that the ID card presenter is the genuine ID card holder, and a facial recognition algorithm checks the image to confirm that the image shows a live person who matches the photo on the ID
• Once identity is verified, an Incode ID NFT code is made ready in less than two minutes
• The ticket buyer receives a digital ticket with the NFT code
• At the event venue, the ticketholder gains entry by presenting a scan of their digital ticket and face
• Facial recognition also can be used to pay for goods, gain loyalty points, and enter VIP sections

Essentially, this process confirms the ticket buyer’s identity before the event and provides a means to verify the ticketholder’s identity at the event venue. For example, NFT music festival tickets can be used to allow gate admission and to let attendees purchase concessions and fan memorabilia using facial recognition.

Traditional Ticketing vs. NFT Ticketing

While both conventional tickets and NFT tickets provide a means of authenticating purchases, NFT ticketing differs from traditional ticketing in several key respects:

• NFT tickets are digital assets rather than physical tickets
• The NFT ticketing process relies on the blockchain to create a verifiable chain of ownership, eliminating the possibility of tickets being duplicated by lookalikes which is inherent in physical tickets
• NFT ticket authentication can employ facial recognition to verify photo ID both before events and at event venues, while traditional ticket checks must rely on manual photo ID checks
• NFT tickets can provide a single method for both ticketholder authentication and other event activities such as goods purchases

These differences protect NFT tickets from being forged using standard methods and make them more versatile as a means of processing post-entry event activities.

Benefits of NFT Ticketing

NFT ticketing offers numerous benefits for event organizers as well as attendees:

• NFT tickets’ use of blockchain makes it harder for ticket scalpers to forge tickets and scam ticket buyers
• Event organizers can control the resale value of tickets from resellers in the secondary ticket market with the help of a smart contract, potentially providing ongoing revenue from royalties for artists, event organizers, and stakeholders
• Digital tickets are cheaper to produce, lowering costs
• Digital tickets can be produced almost instantly, speeding production
• Ticketholders can retrieve tickets from a cloud account or edge device app, reducing the risk of losing or damaging physical tickets
• NFT tickets make it convenient for event attendees to make post-entry purchases at venues, such as concessions purchases, souvenirs, or inside events
• By making purchases more convenient, NFT tickets promote more spending and revenue
• Verifying attendee ID with NFT blockchain reduces security threat risks

These benefits make NFT tickets a secure and profitable option for event organizers.

How Incode ID Optimizes NFT Ticketing

The Incode ID app feature takes NFT ticketing to the next level of security and convenience by integrating cutting-edge technology features with NFT:

• Incode lets users authenticate one identity across every interaction
• Ticket buyers use their ID to purchase a ticket, register online, and receive a digital NFT ticket, which can be used to enter the event with a scan of the ticket and their face and to make purchases through facial recognition
• The Incode platform uses purpose-built architecture which can be deployed rapidly
• Biometric facial recognition data is built directly into NFT codes, keeping information on the edge device without requiring an Internet connection for on-site authentication of gate entry and post-entry purchases
• On-device authentication speeds up identity verification, reducing friction for customers
• A smoother customer experience promotes more purchases at events and more repeat business
• Security controls can be adjusted to determine which event areas ticketholders can access

Incode’s combination of NFT with facial recognition and edge computing empowers NFT ticketing companies to deliver secure ticket processing at user-friendly speeds, which promotes customer satisfaction and increased revenue.

Enhance Your Event Experiences with Incode ID

NFT ticketing blockchain encryption secures your tickets with a unique code that authenticates ticketholder identity. This prevents fraud and confers other advantages, such as removing the need for physical tickets and making it easier to manage event experiences digitally. Incode ID fortifies NFT ticket security with facial recognition technology, which authenticates ticketholder identity and promotes easy event entry and frictionless on-site purchases. Contact our team to request a demo and see how cutting-edge NFT ticket authentication can provide your customers with a more secure, more satisfying event experience.