Sports Illustrated is launching a non-fungible token (NFT) ticketing platform built on the Polygon network, a popular Ethereum scaling tool. This innovative move comes as SI Tickets, the ticketing marketplace of Sports Illustrated, collaborates with Ethereum software firm ConsenSys, the company behind the well-known crypto wallet MetaMask.
Sports Illustrated Pioneers NFT Ticketing Platform on Polygon Network
The newly developed platform, dubbed “Box Office,” aims to become the world’s first comprehensive NFT ticket service. It allows event owners, organizers, and promoters to engage with their audience in new ways by incorporating highlights, collectibles, and unique offers through a feature known as “Super Ticket.” The ultimate goal of this groundbreaking marketplace is to disrupt the conventional primary ticket market.
In a press release, David Lane, SI Tickets’ CEO expressed his enthusiasm for the platform and its potential, stating that blockchain is undoubtedly the future of ticketing. He further explained that with Box Office, owners, promoters, hosts, and attendees now have access to an advanced ticketing experience that transforms the traditional barcode into engaging and collectible content.
NFT Ticketing: A Catalyst for Web3 Technology Adoption
The use of NFTs as tickets for live events has often been considered a potential mass-market application of Web3 technology. Sports Illustrated’s foray into the NFT ticketing space is expected to lend additional momentum to this burgeoning sector.
As noted by Brian Trunzo, Head of Business Development, North America, for Polygon Labs, Blockchain technology offers consumers several significant benefits, particularly in ticketing. These include enhanced payment security and the elimination of scalping and fraud.
Trunzo believes that the launch of Box Office will contribute to the growth of consumer adoption. As Sports Illustrated takes the lead in implementing NFT ticketing, other industry players may soon follow suit, marking the beginning of a new era in event ticketing and blockchain technology.