Sports Illustrated Launches NFT Ticketing Platform on Polygon

U.S. sports publication Sports Illustrated is launching a non-fungible token (NFT) ticketing platform built on the Polygon network, an Ethereum scaling tool.

Sports Illustrated's ticketing marketplace SI Tickets has developed "Box Office" in partnership with Ethereum software firm ConsenSys, the company behind crypto wallet MetaMask. The announcement on Tuesday says it will be the world's first complete NFT ticket service, allowing event owners, organizers and promoters to use Box Office to build further engagement opportunities into tickets, such as highlights, collectibles and offers through a feature called "Super Ticket."

David Lane, SI Tickets' CEO, said in a press release that the goal of the marketplace from the outset was to "disrupt the primary ticket market."

“Blockchain is the future of ticketing, and now owners, promoters, hosts and attendees have access to an advanced ticketing experience that transforms the antiquated barcode into engaging and collectible content," he stated.

The use of NFTs as tickets to live events has often been touted as a potential mass-market use case of Web3 technology. A major name such as Sports Illustrated weighing in to the sector may give NFT ticketing some additional momentum.

“Blockchain technology offers significant benefits for consumers, particularly ticketing, including enhancing payment security, and eliminating scalping and fraud,” said Brian Trunzo, head of business development, North America, for Polygon Labs, in the press release, who added that this launch would help grow consumer adoption.

Read More: Argentinian Airline Issues Every Ticket as an NFT