Sports Illustrated unveils NFT-ticketing solution powered by Polygon blockchain
Sports Illustrated Unveils Blockchain-based Box Office Platform powered by polygon blockchain network
- SI Tickets, Sports Illustrated’s ticketing subsidiary, announced the launch of the “Box Office” platform on May 2.
- Box Office will offer event organizers the tools to create, manage, and promote fully scalable ticketed live sporting events, whether paid or free.
SI Tickets, Sports Illustrated’s ticketing subsidiary, announced the launch of the “Box Office” platform on May 2. Sports Illustrated is an American sports magazine first published in August 1954.
In collaboration with Web3 software developer ConsenSys, Box Office is a primary ticketing solution and self-service event management system powered by the Polygon blockchain. The platform will offer event organizers the tools to create, manage, and promote fully scalable ticketed live sporting events, whether paid or free.
“We’re not here to compete against Ticketmaster, SeatGeek, or AXS. We’re going after the self-service event market. We’re trying to create the first mass-market adoption of NFT ticketing,” he continued, “so that everyone from a 15-year-old to a 90-year-old can buy their first NFT ticket without having to go through a crypto tutorial on blockchain, or have to get a wallet and understand any aspects of it.”
SI Tickets CEO David Lane
Introducing the Super Ticket NFT
As part of the Box Office platform, SI Tickets and ConsenSys are also developing the “Super Ticket,” an NFT that connects hosts with attendees by providing highlights, collectibles, exclusive offers, and loyalty benefits. David Lane, SI Tickets CEO, stated, “Blockchain is the future of ticketing.”
The Super Ticket allows attendees to access expedited entry passes, drink coupons, and music downloads by scanning their NFTs before the event. After the event, guests receive video content and rewards.
The platform highlights the permanent nature of digital tickets, stating, “Guests will keep their tickets to your event in their digital wallet forever.”
Launched in June 2021, SI Tickets now boasts over $2.5 billion in marketplace inventory. The platform does not charge transaction fees on purchases and guarantees a 100% refund if an event is canceled for any reason. For event organizers, Box Office charges $1.40, a 3% commission per ticket, and 3% merchant pass-through fees.
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Damilola Lawrence
Damilola Lawrence has covered news on crypto markets and tech for over 5 years. He has previously shared crypto insights and analysis for TheShibMagazine, CryptoMode, Qweens Magazine, and The Recording Academy before pivoting into Web3. At Cryptopolitan, he is a crypto price prediction specialist. After finishing a bachelor’s degree, he has segued into a master’s degree in IT Cybersecurity at Maria Curie-Skłodowska University.
