NFT Ticket Platform: Sports Illustrated Launches Box Office on Polygon Network
Sports Illustrated has made headlines recently by launching an NFT ticketing platform called ‘Box Office’ on the Polygon network. This unique and innovative service is the world’s first complete NFT ticketing solution, offering event owners, organizers and promoters an advanced ticketing experience that turns barcode tickets into compelling and collectable content.
How Does the NFT Ticket Platform Work?
Sports Illustrated’s ticket marketplace, SI Tickets, partnered with Ethereum software company ConsenSys to develop Box Office. The platform allows hosts and attendees to create NFT tickets that provide a much more engaging experience by including options for highlights, collectibles, and offers through a feature called “Super Ticket.” This feature was designed to further engage attendees and promote ticket resale by providing them with additional benefits.
The service is affordable as well, as Box Office offers affiliates prices up to 50% lower than the competition, while hosts and performers can share a portion of the resale to earn additional income.
Use of NFTs for Tickets
NFTs have often been touted as one of the most promising use-cases for live event tickets, with Sports Illustrated now joining the Web3 world by leveraging the power of the blockchain to provide an advanced ticketing experience. The use of NFTs prevents counterfeit tickets, making them immutable and impossible to reproduce. Not long ago, Ticketmaster also launched a similar NFT ticketing service that provides special access to events to NFT owners. This feature, called ‘token-gated ticket sales’, allows Ethereum-minted tokens stored in digital wallets at MetaMask or Coinbase to gain access to major performances and events.
NFTs are becoming an increasingly popular and reliable alternative to traditional tickets, providing a more engaging and value-added experience.
With the rise of Web3 and blockchain technology, NFTs are quickly becoming the future of ticketing, as they offer advanced features that traditional tickets cannot provide. Box Office, the world’s first NFT ticketing service, developed by Sports Illustrated and ConsenSys, is a significant step towards the mass adoption of this technology. By providing an immersive and collectible ticketing experience, Box Office has disrupted the primary ticket market, making it an attractive alternative to traditional ticketing services.