Paris 2024 Olympic Games may introduce NFT tickets

Tickets for the Paris 2024 Olympics may be sold as NFTs, at least that’s what the French Government’s Olympics committee suggests! The interministerial delegate of the French Olympics and and Paralympic Games, Michel Cadot believes Blockchain technology is more secure than traditional ticketing devices. 

In addition, Cadot has advised the Prime Minister’s Office to implement Blockchain ticketing for all key sporting events held in Paris.

Cadot submitted a 30-page report with five recommendations to the Prime Minister’s office outlining recommendations for implementing a Blockchain ticketing system that will be non-transferable and customized for attendees. The report also details enhanced security protocols as a result of the backlash received regarding the ticket fraud that occurred during the UEFA Champions League in Paris, one of which is to use Blockchain technology for all non-transferable tickets. 

‘This coordination should be applied to other major international sporting events of major importance before the Rugby World Cup and 2024 Olympic Games cutoff. It would make it possible to prefigure the systems envisaged and break into working methods, as well as the reflexes of multi-actor management to deal with difficulties,’ Cadot wrote in the report.

How will the tickets work? 

Attendees can register to receive the tickets using a rotating QR code that will be deactivated the moment the ticket holder has entered the Olympics event venue. The Olympic organizers will send out the NFT tickets via SMS and QR codes a few days before the Olympics event begins. 

The personalized tickets may also allow ticket holders to receive interactive messages (via digital channels) on issues and updates about transportation, security and venues. 

‘These provisions are already planned for the 2023 Rugby World Cup and the Olympics and Paralympics 2024 and practiced by major events such as the French International Tennis,’ according to Cadot. 

He also requested the creation of a national committee to oversee major sporting events. This can ‘bridge the gap between the worldwide dimension and local management’. 

If the amendments turn out to be implemented, it will be a major win for Blockchain technology. However, it would not be the first time crypto and the Olympics have been linked. 

Last summer, crypto was awarded to  gold medal winners of the Tokyo Olympics by Indian exchange, Bitbns. Each gold medal winner was rewarded with around US$ 2,700 in crypto while silver medal winners received US$ 1,350 and bronze medal winners got US$ 675 each. 

Photo: Yahoo Sports