Polygon-Powered NFT Ticketing: Sports Illustrated Revolutionizes Fan Experience

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Sports Illustrated's ticketing division, SI Tickets, launched the "Box Office" platform on May 2. It is a self-service event management and primary ticketing system powered by the Polygon blockchain. SI Tickets is the company's ticketing division.

Built-in cooperation with ConsenSys, a developer of Web3 software, Box Office gives "owners, organizers, and hosts the power to build, administer, and market a fully scalable, paid or free ticketed athletic live event."

ConsenSys and SI Tickets are working together to develop a "Super Ticket" as part of the new platform. This "Super Ticket" will allow hosts to keep in contact with attendees by providing highlights, mementos, exclusive offers, and loyalty benefits made possible by NFT technology. David Lane, CEO of SI Tickets, said blockchain is the future of ticket technology.

"We have been preparing to enter and disrupt the primary ticket market ever since we launched our global event marketplace, which now offers 50 million tickets to more than 250,000 sports, concerts, and shows."

Attendees can receive expedited entrance permits, beverage coupons, and song downloads by scanning their NFTs with Super Ticket before the event. Attendees can also receive video material and rewards after the event by scanning their NFTs with Super Ticket. According to the newly designed website for event organizers, "Guests will keep their tickets to your event in their digital wallets for as long as they choose".

SI Tickets began operations in June 2021 and has acquired a market inventory worth more than $2.5 billion since then. The platform states that it does not charge transaction fees and promises to provide a complete refund if an event is canceled. Box Office announced that in addition to charging event organizers a commission of 3 percent and a merchant pass-through fee of 3 percent, it would charge $1.40 for each ticket.

About ConsenSys: 

Consensys is a market leader in Ethereum and decentralized protocol software. They make it possible for software developers, businesses, and individuals worldwide to create applications of the next generation, deploy contemporary financial infrastructure, and have access to the decentralized web. 

About Polygon Labs:

Polygon Labs is responsible for developing scaling solutions for Polygon protocols using Ethereum. Polygon Labs collaborates with other ecosystem developers to make available a blockchain infrastructure that is scalable, inexpensive, safe, and sustainable for Web3. 

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash