Polygon Blockchain Chosen by Sports Illustrated for NFT Ticketing Platform
SI Tickets, the ticketing division of Sports Illustrated, debuted the “Box Office” platform on May 2, which is a self-service event administration and a primary ticketing solution powered by the Polygon blockchain. Built-in collaboration with Web3 software developer ConsenSys, Box Office provides “owners, organizers, and hosts with the ability to create, manage, and promote a fully scalable, paid or free ticketed live sporting event.”
As part of the new platform, SI Tickets and ConsenSys are collaborating to develop a “Super Ticket” that enables hosts to maintain contact with attendees via highlights, mementos, exclusive offers, and loyalty benefits made possible by NFT technology. “Blockchain is the future of ticketing,” stated SI Tickets CEO David Lane.
“We have been preparing to enter and disrupt the primary ticket market ever since we launched our global event marketplace, which now offers 50 million tickets to more than 250,000 sports, concerts, and shows.”
By scanning their NFTs with Super Ticket, attendees can receive expedited entry permits, beverage coupons, and music downloads prior to the event, as well as video content and rewards after the event. “Guests will keep their tickets to your event in their digital wallets forever,” the new website informs event organizers.
Since its founding in June 2021, SI Tickets has amassed a market inventory of over $2.5 billion. The platform guarantees a full refund if an event is discontinued for any reason and claims to not charge any transaction fees. Box Office disclosed that, in addition to a 3% commission and a 3% merchant pass-through fee, it would charge event organizers $1.40 per ticket.