Sports Illustrated Launches Its New NFT Ticketing System On The Polygon Network
American sports magazine giant Sports Illustrated has finally launched its SI ticket’s new NFT ticketing platform “Box Office” on the Polygon (MATIC) network.
“Box Office” is a self-service event management and primary ticketing solution built on the Polygon blockchain. Box Office offers organizers, owners, and hosts the ability to create, manage, and promote fully scalable, paid, or free-ticketed live sporting events.
In conjunction with Web3 software developer Consensys, SI Tickets aims to develop a “Super Ticket” that enables hosts to remain connected to their audience through highlights, exclusive offers, collectibles, and loyalty benefits via NFT. Through Super Ticket, attendees can scan their NFTs to have an entry pass faster, use coupons for drinks, download music before the event, and receive post-even video content and rewards after.
SI Tickets was launched in 2021 and since then, its marketplace inventory has grown to over $2.5 billion. Now the platform charges no transaction fees on any purchase and guarantees a full refund for canceled events. In addition, Box Office stated that it would charge $1.40 and 3% commission per ticket plus 3% merchant pass-through fees for event organizers.
“Blockchain is the future of ticketing, and now owners, organizers, promoters, hosts, and attendees have access to an advanced ticketing experience that transforms the antiquated barcode into engaging and collectible content.” – David Lane, CEO, SI Tickets.
Meanwhile, several popular brands, artists, and events have adopted NFT ticketing. One of them is Coachella, the world’s most famous music concert have issued 10 lifetime NFT passes. Ticketmaster has also launched “Token-gated sales” which allows fans to access concert tickets using NFT.
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