As the music and sports industries continue to embrace NFTs as a way for fans to engage more with the favorite artists and teams, major players are getting in on the trend. Last fall, Live Nation debuted Live Stubs, a new NFT ticket stub program that provides fans who attend select Live Nation shows with a digital stub to commemorate the event. Certain NFT ticket stubs also grant access to exclusive experiences and rewards.
Warner Music Group (WMG), which has been making big moves in the Web3 space in recent months, recently announced a new partnership with POAP Inc., a Web3 company that produces POAPs, or Proof of Attendance Protocol. POAPs are essential NFT badges that can be minted and given to attendees of certain events to prove that they were in attendance and simultaneously act as a keepsake from the occasion.
“The bridges that POAPs forge between our digital identities and our physical lives provide a tangible layer to our experiences and memories,” said Oana Ruxandra, WMG’s Chief Digital Officer & EVP, Business Development, in a statement. “Music has always been highly contextual: who we are and what we are doing all affect how we perceive a record. POAPs provide artists and fans new ways to hold on to moments shared forever. We’re really looking forward to collaborating with the POAP team as we continue to explore and innovate.”
WMG’s new POAP initiative officially launched this past weekend when Atlantic Records rapper Kevin Gates incorporated a POAP drop for fans who attended the Red Rocks stop on his Khaza Tour, also fellow Atlantic Records artist Oliver Tree has previously leveraged the technology for an album launch event.
In addition to acting as a digital proof of attendance, POAP collectors may also be able to access rewards from the issuer down the line, including exclusive content, access to private chat rooms, and raffles. The company has issued over 4.5 million POAP NFTs to date.
“POAPs are a game-changer for artists who want to connect directly with their fans,” added POAP COO Isabel Gonzalez. “Dropping a POAP offers artists a fun way to celebrate a show that's much more permanent than a ticket stub. It's much harder to lose mementos when they're minted to a blockchain — and once artists are ready to dive deep into the potential of Web3 technologies, POAPs let their fans share that journey. We're incredibly excited to support WMG and their partners in thinking about the relationship between creators and their fans in a new way.”