Sports Illustrated Launches NFT Ticketing Platform
U.S. sports publication Sports Illustrated has announced the launch of a non-fungible token (NFT) ticketing platform named “Box Office”. The platform is built on the Polygon network, an Ethereum scaling tool. The announcement was made on Tuesday, and the ticketing marketplace SI Tickets developed Box Office in partnership with Ethereum software firm ConsenSys, the company behind crypto wallet MetaMask. It will be the world’s first complete NFT ticket service, allowing event organizers, owners, and promoters to use Box Office to build engagement opportunities into tickets.
What Is Box Office?
Box Office is the world’s first complete NFT ticket service that allows event organizers, owners, and promoters to build engagement opportunities into tickets. These opportunities can include highlights, collectibles, and offers through a feature called “Super Ticket”. This NFT ticketing platform was created to disrupt the primary ticket market and transform the antiquated barcode into engaging and collectible content.
The Benefits of Blockchain Technology in Ticketing
David Lane, the CEO of SI Tickets, believes that blockchain technology is the future of ticketing. He stated in a press release that blockchain technology can provide an advanced ticketing experience that transforms the barcode into engaging and collectible content. Moreover, Brian Trunzo, head of business development, North America, for Polygon Labs, believes that blockchain technology can offer significant benefits for consumers, including enhancing payment security and eliminating scalping and fraud.
NFTs as Tickets
The use of NFTs as tickets to live events has often been touted as a potential mass-market use case of Web3 technology. The launch of the world’s first complete NFT ticket service, Box Office, by Sports Illustrated may give NFT ticketing some additional momentum. In conclusion, the launch of Box Office by Sports Illustrated and ConsenSys will allow event organizers, owners, and promoters to create engaging and collectible content through the use of NFTs. Moreover, it will provide significant benefits for consumers, including enhanced payment security and the elimination of scalping and fraud. This launch is a major step forward in the adoption of blockchain technology for ticketing.