Tao Group teams up with YellowHeart on NFT ticketing By BTC Peers
YellowHeart and the largest global hospitality group in the world have signed a significant NFT partnership. The three-night NFT event will be held at Marquee NYC in NYC, June 22-25.
YelloHeart, the largest NFT marketplace for music and ticketing, has announced a NFT ticketing partnership. The deal was made with Tao Group Hospitality (a major global player in the hospitality industry). Tao Group is now the biggest hospitality company to access NFT ticketing.
“Tao Group Hospitality is excited about the future of Web3 and how it stands to reshape the hospitality industry. NFT ticketing is a natural progression into the space as ticketing represents a large part of our nightlife and daylife business,” said Justin Levy, Vice President of Marketing at Tao Group Hospitality. He also added:
Yellowheart has established themselves as one of the leaders in NFT ticketing space and we’re eager to embark on this new frontier with them. We are just starting to embrace NFT, cryptocurrency and this limited edition during NFT Week is not the end of our journey.
It will begin with a 3-night ticketing takeover at Marquee New York City nightclub on June 22, 24, 25 and 25. The NFT tickets will be sold exclusively on YellowHeart’s marketplace ahead, while an exclusive digital collectible will be given to attendees for the annual invite-only Swedish Midsummer Party hosted by Tao Group.
The decision to tap on NFTs for ticketing is Tao Group Hospitality’s first attempt at trying out releasing NFT tickets on the blockchain. Switching to NFT ticketing eliminates certain issues associated with traditional tickets like scalping and high prices.
Josh Katz (CEO and Founder at YellowHeart), commented on the partnership:
It is an exciting opportunity to partner with Tao Group Hospitality. This iconic brand of global hospitality has been a part of our success. NFT ticketing is rapidly expanding across different industries, and with the company’s vision and global roster of venues, this collaboration will bring more personalized live experiences to fans. Tao Group Hospitality has opened the door to other live events and hospitality companies that can use NFT ticketing in order to create long-lasting, intimate relationships with artists and fans.
YellowHeart was founded in 2017 and offers NFT ticketing through a platform that accepts credit cards as well as crypto payments. This company has a vision to change the way people buy and sell music and tickets. In partnership with Kings of Leon, it was the first company to offer NFT tickets and NFT album. It has since been joined by other artists like Maroon 5, Jerry Garcia and Julian Lennon.