Sports Illustrated Launches NFT Ticket Platform: 50% Lower Fees than Competition
•Sports Illustrated, a popular sports magazine in the U.S., has launched an NFT ticketing platform on Polygon.
•The platform is integrated with SI Tickets and offers 50% lower pricing than the competition.
•The platform uses NFTs to enhance payment security, eliminate scalping and fraud, and improve event management.
Sports Illustrated Launches NFT Ticketing Platform
Sports Illustrated, one of the most popular sports magazines in the U.S., has adopted web3 technology by launching Box Office, a new self-service ticketing platform that uses non-fungible tokens (NFTs). The platform is built on Polygon’s Ethereum Layer-2 scaling solution offering lower transaction fees and integrates with SI Tickets for improved event management.
Features of Box Office
Box Office users are able to create and manage their own events with pricing 50% lower than the competition. It also guarantees enhanced payment security by eliminating scalping and fraud thanks to its usage of NFTs.
Partnership With ConsenSys
In order to engage with eventgoers more effectively, Sports Illustrated has partnered with ConsenSys to launch Super Ticket which also use NFTs as tickets.
Benefits of Blockchain Technology
Blockchain technology offers significant benefits for consumers when it comes to ticketing including enhancing payment security and eliminating scalping and fraud. David Lane, CEO at SI Tickets emphasized that blockchain technology is needed in ticketing because existing self-service event management platforms “haven’t evolved fast enough”and can “only list events and provide software to scan a barcode.“
The launch of Box Office marks an important step towards further consumer adoption of blockchain technology for better event management solutions.