Binance Partners Italian Football Team Lazio for NFT Ticketing
In preparation for the 2022–2023 season, Binance and S.S. Lazio are working together to develop an NFT ticketing system. The system that is based on blockchain will, in addition to preventing the sale of fake tickets, make it easier to enter matches, provide discounts at retail establishments, and distribute LAZIO fan tokens.
Marco Canigiani, who is in charge of marketing at S.S. Lazio, brought attention to the extra benefits that come with purchasing NFT tickets. “Fans who experiment with this cutting-edge technology will get exclusive benefits and experiences, in addition to discounts on Europa League matches and online merchandise purchases.”
Prior to this, the primary emphasis of work done on the creation of blockchain-enabled digital ticketing was placed on the elimination of fraudulent tickets and sky-high secondary market values. Wembley Stadium in the United Kingdom, West Bromwich Albion Football Club in the United Kingdom, Ajax Football Club in the Netherlands, and even the Boston Symphony Orchestra have all adopted blockchain ticketing.
Following the fiasco that occurred during the purchasing of tickets for the final of the UEFA Champions League, the French government has urged the use of blockchain tickets for significant sporting events. Because to the chaos caused by counterfeit tickets, the start of the game was delayed. Ironically, the stadium’s ticketing system was already integrated with SecuTix in preparation to deploy blockchain tickets; nevertheless, Liverpool FC choose to issue all tickets on paper instead of using blockchain technology.
There is no question that SecuTix is in the driver’s seat when it comes to the creation of this anti-counterfeiting technology for sports events. TixNGo is a platform that is powered by blockchain technology that gives customers the ability to buy, trade, resell, and keep digital tickets safely. In addition to this, it was the first company to use 3D seating charts and offers event organizers information on sales and ticket purchases.
A novel approach that has recently emerged is to treat digital tickets like collectibles in order to encourage more participation from fans. Since Binance contributed fan tokens to Lazio, it is possible that the next natural step in its relationship with the club would be to provide NFT tickets. By conducting this trial, Binance may be the first company to pioneer an additional practical application of blockchain-based tickets by using Web3 technology to enhance the experiences of fans.
Binance Fan Token Lead Zoe Wei said that blockchain-enabled non-fungible token (NFT) ticketing has the potential to extend into other entertainment enterprises. It is unknown if or when this use of NFTs will become commonplace among the general population.