Sports Illustrated Debuts New NFT Ticketing Platform: Details
- Sports Illustrated has announced the debut of a new NFT ticketing platform based on the Polygon (MATIC) blockchain.
- The new NFT platform has been named “Box Office” and will include pre- and post-event audience perks.
- It will enable “owners, organizers, and hosts the ability to create, manage, and promote a fully scalable, paid or free ticketed live sporting event.”
- Sports Illustrated has partnered with ConsenSys, and the two will work together to develop a “Super Ticket” as well.
The popularity of non-fungible tokens (NFTs) remains unmatched despite the prevailing crypto winter and the rapid decline in NFT trading volumes. The general interest in blockchain technology and digital art remains high among companies, and it is imperative to note that many big names have decided to embark on their NFT and metaverse ventures. Interestingly, an American sports magazine first published in 1954, Sports Illustrated, has announced the debut of a new NFT ticketing platform based on the Polygon (MATIC) blockchain in an attempt to capitalize on the popularity of blockchain technology.
The new service from Sports Illustrated has been titled “Box Office,” and it will allow the event organizers to issue commemorative non-fungible token tickets which will also include pre- and post-event audience perks. The platform has been described as a self-service event management and primary ticketing solution with the Polygon blockchain as its foundation.
Moreover, the new ticketing platform has been created by Sports Illustrated in collaboration with Web3 software developer ConsenSys. It will enable “owners, organizers and hosts the ability to create, manage, and promote a fully scalable, paid or free ticketed live sporting event.”
Additionally, Sports Illustrated Tickets and ConsenSys will work together to develop a “Super Ticket,” which will allow the hosts to remain connected to their attendees with the help of highlights, collectibles, exclusive offers, and loyalty benefits via NFT technology. The CEO of SI Tickets, David Lane, believes that “blockchain is the future of ticketing.”
“From the moment we launched our global event marketplace, which now boasts 50 million tickets to over 250,000 sports, concerts, and shows, we have been preparing to enter and disrupt the primary ticket market,” Lane said.
With the help of the “Super Ticket,” the attendees can scan their NFTs and gain expedited entries to the events hosted by the organizers. Furthermore, they can also receive drink coupons and music downloads prior to the event and can receive post-event video content and rewards as well.
“Guests will keep their tickets to your event in their digital wallet forever,” revealed the new website of the Sports Illustrated ticketing platform, while adding:
“Every guest will receive a $10 credit toward tickets to a future purchase of major sports, concerts or theater events on SI Tickets. We pay your fans to attend your event!”
Irrespective of the prevailing crypto winter, many firms continue to embark on NFT ventures with multiple partnerships. WeTransfer, an internet-based computer file transfer service company founded in 2009, recently partnered with blockchain platform Minima to focus on the deployment of non-fungible tokens (NFTs) on the Minima network and also empower creators all over the globe with “digital rights management for their intellectual property.”
Moreover, China introduced its first regulated NFT trading marketplace on January 1, 2023. It was created by the state-owned Chinese Technology Exchange, Art Exhibitions China, and the privately-owned Huban Digital Copyrights Ltd.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
