Why Heavy Metal Band Avenged Sevenfold Keeps Betting on NFTs
11 Might 2023 22:39, UTC
Studying time: ~5 m
With tens of millions of albums bought and a large international following, heavy metallic band Avenged Sevenfold is arguably the most important music act constructing within the Web3 area at present—from launching its personal NFT-based membership to serving to ticketing large Ticketmaster roll out token-gated ticket gross sales.
Avenged Sevenfold frontman Matt Sanders (a.okay.a. M. Shadows), himself an avid NFT collector and CryptoPunks and Bored Ape Yacht Membership member, lately joined Decrypt’s gm podcast. He detailed how the long-running band first embraced NFTs and why it continues to construct with the tech regardless of up-and-down hype and a unstable market.
Sanders described the push as an extended sport, with the unique Deathbats Membership—a set of 10,000 Ethereum NFTs—designed to function the “connective tissue” for broader plans.
The collectibles, every that includes a novel bat illustration, have been launched in December 2021 exterior of an album launch cycle to “educate followers” and assist them “get their footing.” Deathbats Membership members acquire entry to unique merchandise, ticket giveaways, and may be a part of a devoted on-line group that features band members.
Establishing the token and constructing a group round it allowed the band to start out discussing subsequent steps with main gamers across the music business, mentioned Sanders.
He talked about Ticketmaster, streaming music chief Spotify, and on-line procuring platform Shopify because the sorts of corporations that wanted to get onboard to supply true worth to holders. All three corporations have dabbled within the area thus far, together with with enabling NFT gross sales, collectible giveaways, or token-gated advantages.
Ticketmaster Debuts NFT-Gated Ticket Gross sales, Beginning With Avenged Sevenfold
Ticketmaster ended up being the primary of such giants to align with Avenged Sevenfold and its Web3 tech associate Bitflips, saying in March that they’d collaborated to launch the ticketing platform’s NFT-gated ticket gross sales integration. Avenged Sevenfold is the primary band to supply the choice to followers, having trialed it efficiently forward of the general public launch.
“We figured that pure Web3 tickets—like, pure NFT tickets—have been a bit an excessive amount of of a step for individuals at this level,” Sanders mentioned. “Promoting out The Discussion board or [Madison Square Garden] and telling individuals they needed to have a MetaMask pockets did not seem to be a good suggestion to us.”
However Avenged Sevenfold isn’t merely aiming to serve its collector base of roughly 5,300 distinctive Deathbats Membership NFT holders. The band needs all Avenged Sevenfold followers to return alongside for the trip, and has quickly expanded its Web3 efforts in current months by way of free NFT mints and passes that present tokenized utility to anybody who engages with the band.
If anybody’s questioning how Avenged Sevenfold’s ‘NFT rip-off’ goes…
After a seamless ticket shopping for expertise, I simply redeemed my free-meet-and-greets-for-life and queue leap perks, and New York is gonna be IMMENSE.
Thanks for scamming me, @DeathbatsClub! 🙌🏻🖤 pic.twitter.com/0y7sCsbeDO
— Sophie Garrett (@sophigarrett) April 22, 2023
Earlier this 12 months, the band held a large-scale alternate actuality sport (ARG) that challenges followers to piece collectively clues—each digital and in the true world—to finally uncover particulars about Avenged Sevenfold’s upcoming album, “Life Is However a Dream…” As a part of the expertise, followers minted over 900,000 free NFTs on Ethereum scaling community Polygon, Shadows mentioned.
After which following the preliminary Ticketmaster announcement, Avenged Sevenfold launched TicketPass, a free-to-claim Polygon NFT that lets followers get entry to token-gated gross sales—albeit after paying Deathbats Membership members.
It’s a part of a larger-scale initiative from Avenged Sevenfold and Bitflips to reward die-hard followers that persistently have interaction with the band, whether or not it’s by attending live shows, shopping for bodily merchandise, listening to streaming music, and different potential tie-ins to return. Over time, the followers who’re most plugged into the Avenged Sevenfold ecosystem will acquire higher advantages.
“You possibly can consider it like a rewards program accelerated to the max,” Bitflips founder Joe Totaro advised Decrypt in an interview.
The purpose with all of those efforts is to not drive followers to purchase NFTs or deal with cryptocurrency. It’s a bonus function, Sanders mentioned, enabled by blockchain—a sweetener that may reward these followers with unique alternatives and probably even strengthen their connection to the band.
“It would not ask the fan to do something greater than what they’re already doing,” he affirmed.
TicketPass is a blockchain based mostly verification and rewards system for anybody that chooses to take part. It’s free, eco-friendly and requires only a few steps to be sure you can purchase the tickets you want.
We shall be breaking these passes into “tiers” over time and… pic.twitter.com/3l7DdI0eZr
— Avenged Sevenfold (@TheOfficialA7X) April 9, 2023
Since launching the Ticketmaster integration and TicketPass, Sanders mentioned that he’s seen curiosity from different artists in launching the same program. Prior to now, different bands have been enthusiastic about NFTs when “worth go excessive,” he mentioned, however the band “did not hear from anyone” as soon as NFT gross sales and costs began dropping final 12 months.
For the Avenged Sevenfold frontman, creating a greater ticket-buying mannequin for followers than the present scalper-dominated barrage goes to require extra artists and bands to take a threat and wager on new tech—and take issues into their very own fingers.
“I believe it may take some individuals with huge balls to type of leap in and go, ‘OK, we see what’s occurring right here,’” Sanders mentioned. “We’re seeing a possibility right here the place we are able to actually mildew what the panorama seems to be like for the artists—as a result of it is coming from an artist. We do not wish to let that chance cross us by.”