NFTs are more than just art. NFTs represent everything unique and can have many use cases in various applications. If you need an example, take a look at the NFT collection that has just been released by Synchronize Fest recently.
Dubbed “Synchronize Fest Lifetime Ticket NFT”, the collection consists of 100 unique NFTs that will grant their holders a free pass to all future Synchronize Fest events. For those unfamiliar, Synchronize Fest is a multi-genre music festival in Jakarta, Indonesia. The event had been held annually since 2016, but it was ultimately canceled in 2020 because of the COVID-19 pandemic, despite having sold more than 12.000 tickets, according to Antara.
Apparently, 70 percent of ticket buyers for the 2020 event chose the non-refundable option, which prompted the organizer to issue these special lifetime NFT tickets as an appreciation to them. Anyone who bought the non-refundable ticket for the 2020 Synchronize Fest was entitled to a raffle of the NFT tickets. The raffle was held live on YouTube on May 19.
Each NFT ticket contains distinct artwork courtesy of Agugn, a local artist who contributed to the visual illustration for the canceled 2020 event. The NFTs run on Cardano, a proof-of-stake blockchain that has risen in popularity in the last few months. According to recent statistics, the number of native assets issued on Cardano has reached 4.8 million.
As expected, owners of the Synchronize Fest NFT tickets are free to hold on to their NFTs and enjoy lifetime access to the event, or sell them on secondary market when they are no longer interested in attending future events. On its website, the organizer cites JPG Store, CNFT.io, FreeRoam, Genesis Auction House, and Tokhun as the official marketplaces for its NFT tickets.
After having no presence for two years straight, Synchronize Fest is ready to return this year. The event will run for three days from October 7 to 9 at Gambir Expo Kemayoran, Jakarta. This will be the first of many Synchronize Fest events that the NFT ticket holders can attend free of charge.
