Sports Illustrated NFT moves its ticketing platform to the Avalanche
US-based sports newspaper Sports Illustrated has announced it will move its box office ticketing platform from Polygon Blockchain to Avalanche, nearly 10 months after launching its ticketing arm.
In the year The partnership will allow the NFT ticketing platform to issue their NFT tickets using the Avalanche blockchain. Avalanche helps box office engage with guests to convert event tickets into dynamic content.
In May 2023, an NFT ticketing platform was launched on Polygon to enable event organizers to offer their guests special benefits such as expedited entry passes, drink coupons and music downloads. NFT ticket holders may receive additional rewards after the event, such as video content and related to their event ticket.
Introducing a new event management platform from Sports Illustrated Tickets
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In a statement sent to Cointelegraph, David Lane, CEO of SI Tickets, said that the company has previously partnered with Polygon and is now working on NFT tickets with Avalanche. Lane said Ava Labs will bring its “resources, technology, intellectual capital and market leadership” to the partnership.
He also explained that using NFT technology in ticketing has many advantages. According to Lane, ticket availability expires when scanning at event doors. At that point, tickets become “useless” and end up in the trash. But NFT tickets change all that. The barcode can now be a means of engagement and activation opportunities between the event owner, venues, performers, sponsor and audience, he explained.
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When asked about the intersection between NFTs and sports, Lane commented that the growing NFT sports market is creating demand and bringing sports fans to the Web3 space. Fans predict that the market will continue to grow when they see the value in NFT offerings. Lane said:
“We see ticketing as a key enabler for the mass adoption of NFTs and blockchain. The benefits of blockchain ticketing are endless across the spectrum of live events, not just sports.
Using blockchain-based ticketing can benefit event owners by providing them with opportunities to engage with their guests through content. Lane believes that this will create additional sources of income and opportunities. Additionally, guests can enjoy exclusive content and prizes.
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