First NFT ticketing service on Polygon
It’s official: Sports Illustratedthe American sports publication, will launch a non-fungible token (NFT) ticketing platform on Polygon network, Ethereum’s main layer 2.
Here are all the details.
First complete NFT ticketing service built on Polygon
As expected, American sports publication Sports Illustrated is launching a non-fungible token (NFT) ticketing platform built on the Polygon network, a Ethereum scaling tool.
In particular, Sports Illustrated’s ticket marketplace, SI Tickets, has developed a “box office” in partnership with the software company ConsenSysthe company behind MetaMask cryptocurrency wallet.
According to the announcement, it will be the world’s first comprehensive NFT ticketing service that will allow owners, promoters and organizers of events to use Box Office to create additional engagement opportunities in tickets such as highlights, collectibles and offers through a feature called “Super ticket“.
David LaneCEO of SI Tickets, said in a press release:
“The goal of the marketplace from the beginning was to disrupt the mainstream ticketing market. Blockchain is the future of ticketing, and now owners, promoters, hosts and attendees have access to an advanced ticketing experience that transforms obsolete barcodes into compelling, collectible content.”
Remember that the use of NFTs as tickets to live events has often been touted as a potential mass market use case for Web3 technology. As a result, a big name in the industry like Sports Illustrated can add extra momentum to the issuance of NFT tickets.
Brian TrunzoBusiness Development Manager, North America, for Polygon Labs, stated in a press release that this launch will not only help drive consumer adoption, but also that:
“Blockchain technology brings significant benefits to consumers, particularly ticketing, including improving payment security and eliminating scalping and fraud.”
NFT tickets can revolutionize sporting events
As expected above, verifiable NFT tickets powered by blockchain technology can eliminate fraud and add value for fans in the sports arena. Not surprisingly, major sporting events are considering adopting them.
In fact, blockchain-based NFT tickets are increasingly being mentioned as one solution to the old ticket system.
This is because with the NFT system, tickets can be bought online, but are only issued via SMS after the buyer has proven their identity and gained access to a ‘hold’ area on arrival at the venue.
In addition, NFT tickets include a unique, tamper proof QR code that can be used to gain access to the event, keep unauthorized people out and simplify the experience for legitimate customers.
With pilots already underway in the music industry through companies such as e.g YellowHeartNFT tickets are now starting to attract attention in the sports world.
For example, Michel Cadotthe French government’s envoy to the Olympics, submitted a 30-page report to the Prime Minister’s Office recommending the implementation of blockchain-based ticketing for the 2024 Paris Olympics.
In addition to Polygon, Algorand also offers NFT ticketing technology
Recently Argentine low-cost airlines Flybondi integrated Web3 into its electronic ticketing process as an NFT.
Specifically, this is called integration Ticket 3.0 and is an extension of the existing relationship with the NFT ticket company TravelX.
This NFT ticketing technology, developed on Algorand’s blockchain, allows passengers to rename, transfer or sell “NFTickets” independently.
Flybondi also says that NFT tickets offer a more flexible travel experience, so passengers can buy themselves in advance without having to define their travel plans or who the travelers will be.
In turn, the airline is able to reduce customer service costs and increase revenue from agency fees.
Facundo Martin Diazblockchain manager of TravelX, later said that the company does not charge a commission when users first buy a ticket, but receive one 2% transaction fee when the exchange takes place in the secondary market.
The process is quite simple: passengers can buy tickets with fiat currency on the Flybondi website, and TravelX issues a synchronized NFT ticket in addition to the regular e-ticket.
Flybondi CEO Mauricio Sana said this in a press release:
“With this launch, we seek to generate a positive impact in the aviation sector through innovation and the use of blockchain technology. Changing the rules of the game is never easy, but we know that our goal is to evolve and offer our passengers a new phase of freedom to fly. “
