Avenged Sevenfold is undoubtedly the biggest music group building in Web3 today. The band owns an NFT-based club and recently helped the ticketing company Ticketmaster launch token-gated tickets.
Avenged Sevenfold’s vocalist Matt Sanders popularly known as M Shadows, was featured in an interview on Wednesday where he explained in detail why the band has decided to embrace NFTs despite the high market volatility and up-and-down hype.
Sanders said their push into the Web3 is a long-term play. The band launched Deathbats Club NFTs on Ethereum in December 2021 to introduce their fans to the nascent space. Holders become members of an online community that includes the band members. In addition, they have access to ticket giveaways and exclusive merchandise.
By creating a non-fungible token and establishing a solid community around it, Avenged Sevenfold started approaching major players in the music industry, like Spotify and Ticketmaster, to provide more value for Deathbats holders.
Ticketmaster became the first company to show interest in collaborating with the band. By March this year, the two parties announced they had partnered to launch NFT-gated tickets on the Ticketmaster platform. Sanders, however, admitted that pure NFT-based tickets still have a long way to go before they see mass adoption, arguing that most music fans have yet to understand how blockchain technology works.
The Avenged Sevenfold Web3 Ambitions
The vocalist said Avenged Sevenfold aims to onboard all its fans on Web3. Only 5,400 of the millions of fans are currently holding the unique Deathbats NFTs. Sanders explained that they will launch more collections in the coming months.
In March, the band allowed 900,000 fans to mint free Polygon NFTs. At the time, Avenged Sevenfold’s Web3 partner Bitflips said the initiative was meant to reward loyal fans that engage with the band consistently, whether by purchasing physical merchandise, attending concerts, or streaming its music.
Bitflips added that Avenged Sevenfold is not in any way forcing the fans to join Web3. However, the band believes the space offers an opportunity to strengthen its connection with the fanbase.
Sanders says since rolling out the NFT-gated tickets with Ticketmaster, Avenged Sevenfold has been approached by other music acts who want to adopt a similar program. He claims that most musicians were interested in NFTs when their prices went up in 2021 but disappeared when they dropped last year.
The Avenged Sevenfold band member urged other music artists to embrace Web3 and partner with each other to create a better NFT ticket-selling model for their fans than the existing one.
Which Music Artist is in the NFT World?
Several musicians have already stepped into the NFT space, with the notable one being Pharrell Williams. The RnB superstar partnered with NFT creator Doodle to launch ‘Pharell Pack’ in late April. The collection features digital wearables from the artist.
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