Oveit, an Austin-based startup known for its ticketing and virtual shopping technology, has partnered with blockchain technology developer Polygon Studios to democratize the creation and sales of non-fungible token (NFT) tickets.
Oveit CEO Andrei Stefan said in a statement that minting and selling NFT tickets is changing the live and virtual event space, but the current tools available to mint — or create and put something on a blockchain — and sell NFT tickets are too time-consuming and cost-prohibitive.
The company announced Tuesday that its new end-to-end NFT ticketing solution, called Oveit NFT, allows anyone to mint and sell NFT tickets in a fraction of the time with virtually no coding expertise.
NFT tickets are different from ordinary event tickets. Because they are encrypted with blockchain technology, there is less of a chance of fraud or counterfeit. At the same time, tickets can feature bonus materials, such as experiential artwork, exclusive access to merchandise or credits that can be used for purchases at the event.
Oveit said its NFT ticketing solution complements its live-shopping platform Streams.live, which allows buyers to watch retailers give online demonstrations of their product in real-time. By using Oveit NFT in conjunction with Streams.live, NFT ticket sellers can sell tickets with ease in front of a live audience.
