With the evolution of blockchain technology, cryptocurrencies like Bitcoin and ERC20 Tokens are likely to become common modes of payment. In line with this trend, TicketSocket recently announced its collaboration with CoinPayments, a crypto payment processor. This partnership will allow TicketSocket customers to accept cryptocurrency in conjunction with TicketSocket’s NFT ticketing system – Sell NFT Tickets — or nonfungible tokens for events and experiences — instead of cash at events. The integration follows a model similar to that adopted by companies like QuiD POS, another partner of CoinPayments.
TicketSocket can now accept nearly all cryptocurrencies available on mainstream exchanges, such as Coinbase, Gemini, and Binance. To further empower their customers, TicketSocket gives merchants the ability to specify which crypto coins they will accept for admission to their events.
“We are excited to partner with TicketSocket and illustrate the limitless potential CoinPayments provides for merchants worldwide,” said CoinPayments’ CEO Jason Butcher. “Our robust and seamless solution will allow TicketSocket customers to accept cryptocurrency as a form of payment, providing an easier way of conducting business and reaching a broader consumer base,” he added.
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The integration of crypto payments in event planning signals a greater shift in how B2B and B2C companies may amass digital wealth in the coming years. Specifically, companies formally limited to a hard cash supply will be able to generate revenue with the potential to increase after initial transactions. TicketSocket is already noting this positive impact: As of January 2022, about seven TicketSocket customers have begun using cryptocurrencies and NFTs as modes of payment, and the company anticipates more of their older and newer customers to follow suit.
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“We feel that this partnership with CoinPayments is extremely timely in the industry as we simultaneously release support for NFT ticketing, this provides our clients with all the tools they need to be successful and stay cutting edge,” said Mark Miller, CEO of TicketSocket
With locations around the world, TicketSocket now stands as a leading NFT ticketing provider. The TicketSocket–CoinPayments partnership now allows TicketSocket customers to sell tickets and registrations for events of all types and sizes including crypto conferences as an example. Launching this in combination with TicketSocket’s new NFT Ticketing solution allows buyers to purchase tickets via Fiat or Crypto and then receive a unique NFT. TicketSocket provides this service through a dynamic minting system that can mint, attach, and deliver 100% original NFTs to buyers. The NFT can be completely customized to each merchant’s preferences — from specific artwork to encrypted event information. Moreover, the NFT is completely transferrable on any exchange, completing the blockchain transaction lifecycle for ticket purchase via crypto and delivery of a digital NFT Ticket.
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