Sports Illustrated’s ticketing platform, SI Tickets, has announced its decision to move its nonfungible token (NFT) ticketing platform, “Box Office,” from the Polygon blockchain to Avalanche. The collaboration with Ava Labs, the developers of Avalanche, will enable SI Tickets to mint their NFT tickets using the Avalanche blockchain. Additionally, Avalanche will help Box Office transform event tickets into dynamic content to enhance guest engagement.
The NFT ticketing platform was initially launched on Polygon in May 2023, offering event organizers the ability to provide exclusive benefits to their guests, including expedited entry passes, drink coupons, and pre-event music downloads. NFT ticket holders also enjoyed post-event video content and additional rewards tied to their event ticket.
SI Tickets CEO David Lane explained that while the company had previously partnered with Polygon, they have now chosen to mint their NFT tickets with Avalanche. Lane expressed confidence in the partnership, stating that Ava Labs would bring their resources, technology, intellectual capital, and market leadership to the table.
Lane emphasized the advantages of using NFT technology in ticketing, pointing out that traditional tickets lose their utility once they are scanned at event doors and end up being discarded. However, with NFT ticketing, the barcode can serve as an opportunity for engagement and activation between event owners, venues, performers, sponsors, and attendees.
When asked about the intersection between NFTs and sports, Lane highlighted the growing NFT sports market, which is generating interest and attracting sports fans to the Web3 space. He predicted further growth in the market as fans recognize the value of NFT offerings.
According to Lane, blockchain-based tickets not only benefit event owners by providing engagement opportunities with guests but also create additional revenue streams and opportunities. Guests, on the other hand, can enjoy access to exclusive content and rewards.
In related news, NFT collector Suzanne advises treating one’s first NFT purchase like a first date, emphasizing the importance of research and understanding the workings of NFTs.