As the 2024 Olympics draws near, the use of NFTs as the ticket system for the games seems more realistic than ever.

Over the recent years, blockchain has gained massive grounds in different sectors of the world, and the sporting world is not left out.

The French Government’s Olympics Ambassador, Michael Cadot, is optimistic that tickets for the forthcoming games in Paris can be sold in the form of NFTs. This news makes the rounds, as he recently filed a 30-page report to the office of the Prime Minister, seeking the introduction of NFT ticketing system as the means of ticket acquirement by fans.

The blockchain-based ticket system has been introduced into the buyers’ e-wallet, and the tickets will be tracked by the organizers of events after they have been sold.

Cadot further explained that the new ticketing system, if officially introduced, will reduce the security risk of fans and avoid the issue of transferrable tickets. The NFT ticketing system will also make it possible for the fans to acquire their tickets even before they arrive at the venue, and for the tickets to be deactivated once they gain access into the venue, as the tickets will be registered through a rotating QR code.

This idea has already been bought into by the 2023 Rugby World Cup committee. The blockchain-based technology has also gained grounds in the UK Olympics team.

This giant step set to be taken by the French Olympics committee comes after the issue of ticket fraud arose during the UEFA Champions League final match between Real Madrid and Liverpool in Paris.

Share your thoughts on the possibility of this idea becoming a reality by next year.

Featured image source: industrywired.com