Sports Illustrated Tickets (SI Tickets), a division of the world-renowned American sports magazine Sports Illustrated, has announced the launch of a new NFT ticketing platform called “Box Office”.
The platform, built on the Polygon blockchain, will allow event organizers to sell tickets to fitness, conference, sports, concert, and other events as NFTs.
The new NFT ticketing system was developed in collaboration with ConsenSys, a global blockchain company famous for developing one of the most widely used crypto wallets, MetaMask.
Box Office is designed to be cheaper and simpler, enabling event organizers to put their events online in just a few clicks by choosing images and details. According to the company, the platform offers pricing that is up to 50% lower than its competitors and the ability for hosts and performers to earn a share of resale revenues.
In addition to Box Office, SI Tickets and ConsenSys are partnering to introduce the all-new “Super Ticket”, an NFT ticket solution that enables event hosts to remain connected to their attendees through collectibles, exclusive offers, loyalty benefits, and more.
By adopting blockchain technology for its ticketing system, Sports Illustrated is following in the footsteps of other companies looking to improve efficiency and security. Ticketmaster, for instance, partnered with Dapper in September 2022 to allow event organizers to sell tickets as NFTs. In March 2023, it also enabled NFT-gated sales, enabling vendors to sell primarily or exclusively to owners of specific NFTs.
Airline companies have also started to adopt NFT-powered ticketing systems. For example, in March, Flybondi collaborated with TravelX to offer flight tickets as NFTs, providing increased flexibility, transparency, and security.
