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Tao Group Hospitality launches NFT ticketing at New York’s Marquee

Global hospitality giant Tao Group is introducing a three-night NFT ticketing takeover at New York City’s iconic Marquee nightclub later this month through a partnership with YellowHeart.

Around 2,000 NFT tickets for the events will be sold exclusively on YellowHeart’s marketplace before the events take place on June 22, 24 and 25. Ticket prices currently range from $27 to more than $100.

Additionally, an exclusive NFT will be made available only to attendees for the annual invite-only Swedish Midsummer Party hosted by Tao Group.

The hospitality group, which manages over 60 premium entertainment, dining and nightlife venues across the world, said the utilisation of NFT ticketing means it is able to provide people with an exciting, engaging experience and connect more closely with event attendees. It said it was eager to break into NFT ticketing since the technology solves many of the challenges linked to traditional tickets, such as scalping and high resale prices.

“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.

“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. This limited run during NFT week is only the first step for us and we have some exciting things planned as we embrace NFT and cryptocurrency as a company.”

Tao Group, which acquired Hakkasan Group in April 2021, operates venues in over 20 markets across five continents, including OMNIA, LAVO, Beauty & Essex.

Josh Katz, chief executive and founder of YellowHeart, said: “We are thrilled to be partnering with Tao Group Hospitality, one of the most iconic global hospitality brands in the world, on this exciting new venture.

“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. By utilising NFT ticketing, Tao Group Hospitality is paving the way for other hospitality and live events companies in the space to drive intimate, long-term engagement with fans and artists.”

Image: Krys Amon on Unsplash