Box Office by Sports Illustrated: The Future of Ticketing is Here | NFT CULTURE | NFT News | Web3 culture
Sports Illustrated, one of the most recognized American sports publications, has recently launched a non-fungible token (NFT) ticketing platform called “Box Office.” Built on the Polygon network, which is an Ethereum scaling tool, this new platform is designed to offer event owners, organizers and promoters an innovative way to engage with attendees through NFTs.
Box Office is developed by SI Tickets, the ticket marketplace for Sports Illustrated, in partnership with ConsenSys, an Ethereum software company that created the popular crypto wallet MetaMask. It is said to be the world’s first complete NFT ticketing service that allows event organizers to build additional engagement opportunities into their tickets, such as highlights, collectibles and offers through a feature called “Super Ticket.”
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According to David Lane, CEO of SI Tickets, the marketplace’s primary goal was to “disrupt the primary ticket market.” By leveraging blockchain technology, Box Office can transform the traditional barcode into engaging and collectable content, creating an advanced ticketing experience for attendees. This innovative approach can significantly reduce scalping and fraud while offering a new level of payment security to consumers.
The use of NFTs as tickets to live events has been identified as a potential mass market use of Web3 technology. NFTs are unique digital assets that can be bought, sold and traded on a blockchain, making them an ideal tool for creating unique event tickets. With the involvement of a major brand like Sports Illustrated, NFT tickets could see additional momentum and increased usage among event organizers and attendees.
Brian Trunzo, head of business development, North America, for Polygon Labs, believes that this launch will help increase consumer adoption by offering significant benefits to consumers. In a press release, Trunzo stated, “Blockchain technology brings significant benefits to consumers, especially ticketing, including improving payment security and eliminating scalping and fraud.”
Box Office by SI Tickets also provides a number of benefits to event organizers. The platform offers lower fees than other event management platforms, such as Eventbrite, TIXR and DICE, and has ZERO hardware costs. This means event organizers can generate more revenue and pass the savings on to attendees.
The platform also offers a range of engagement features that allow organizers to reward their guests with exclusive content and offers. Super Ticket, for example, allows organizers to create unique tickets that include highlights, collectibles and offers, adding value to the attendee experience.
SI Tickets harnesses the power of blockchain to create a more immersive and engaging ticketing experience for attendees, which has the potential to revolutionize the events industry. By using NFTs as tickets, event organizers can create unique and collectible experiences that add more value to attendees, making them more likely to attend future events.
In conclusion, Sports Illustrated’s launch of Box Office represents a significant step forward in the use of NFTs as a mass market use for Web3 technology. By harnessing the power of blockchain, SI Tickets provides event organizers with a number of benefits that can improve the attendee experience, while providing a more secure and efficient ticketing system. With the use of NFTs as tickets gaining momentum, it is clear that this technology has the potential to transform the event industry, creating new opportunities for engagement and revenue generation.
