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Monday, May 27, 2024

Sports Illustrated launches Polygon-based NFT ticketing platform

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On May 2, Sports Illustrated’s ticketing subsidiary SI Tickets launched the “Box Office” platform, a self-service event management and primary ticketing solution powered by the Polygon blockchain. Built in conjunction with Web3 software developer ConsenSys, Box Office enables “owners, organizers and hosts 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 partnering to develop a “Super Ticket” that allows hosts to remain connected to their attendees through highlights, collectibles, exclusive offers and loyalty benefits via NFT technology. “Blockchain is the future of ticketing,” SI Tickets CEO David Lane said.

“From the moment we launched our global event marketplace, which now boasts 50 million tickets to over 250,000 sports, concerts and shows, we have been preparing to enter and disrupt the primary ticket market.”

Through Super Ticket, attendees can scan their NFTs for expedited entry passes, drink coupons and music downloads before the event and can receive post-event video content and rewards thereafter. “Guests will keep their tickets to your event in their digital wallet forever,” the new website tells event organizers.

Launched in June 2021, SI Tickets has grown to over $2.5 billion in marketplace inventory. The platform claims to charge zero transaction fees on any purchase and guarantees a 100% refund if an event is canceled for any reason. Box Office said it would charge $1.40 and 3% commission per ticket plus 3% merchant pass-through fees for event organizers.

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