Sports Illustrated has teamed up with Ethereum software firm ConsenSys to launch a non-fungible token (NFT) ticketing platform on the Polygon network. The new platform, called “Box Office,” is built to become the world’s first comprehensive NFT ticket service.
Features
Box Office is an innovative platform that allows event owners, organizers, and promoters to engage with their audience in new ways. The platform incorporates highlights, collectibles, and unique offers through a feature known as “Super Ticket”, making it possible to disrupt the conventional primary ticket market. The ultimate goal of this groundbreaking marketplace is to provide an advanced ticketing experience that transforms the traditional barcode into engaging and collectible content.
Benefits of Blockchain Technology in Ticketing
Blockchain technology offers several significant benefits to consumers, particularly in ticketing. These benefits include enhanced payment security and the elimination of scalping and fraud. Brian Trunzo, Head of Business Development, North America, for Polygon Labs, believes that the launch of Box Office will contribute to the growth of consumer adoption.
The Future of NFT Ticketing
David Lane, CEO of SI Tickets, expressed his enthusiasm for the platform and its potential, stating that blockchain is undoubtedly the future of ticketing. 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. 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.