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(Kitco News) - The roll-out and integration of nonfungible token (NFT) technology by major corporations continues as Sports Illustrated, the U.S.-based sports magazine, has announced the launch of “Box Office by SI Tickets,” a self-service event management and primary ticketing solution.
Box Office was developed and released by SI Tickets, a fan-first ticketing site launched by Sports Illustrated in June 2021 that offers a secure, nonfungible token-based ticketing marketplace.
According to SI Tickets, Box Office is “the first global platform to combine a complete NFT ticket solution for events of any size with visibility and adjacency to traditional, non-NFT tickets alongside the biggest in sports, concert and theater on the SI Tickets marketplace.”
The new service was developed in partnership with ConsenSys and operates on the Polygon layer-two network.
With the new platform, event owners, organizers and hosts will be able to create, manage and promote a fully scalable, paid or free ticketed live sporting event, performance or function on the trusted Sports Illustrated Tickets platform.
As part of the launch of Box Office, SI Tickets and ConsenSys have released “Super Ticket,” an NFT ticket solution that “unlocks engagement opportunities between hosts and attendees before, during, and after events” by offering collectibles, exclusive offers, loyalty benefits and more.
“From the moment we launched our global event marketplace, which now boasts 50 million tickets to over 250,000 sports, concerts and shows, we have been preparing to enter and disrupt the primary ticket market,” said David Lane, CEO, SI Tickets. “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."
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To help attract ticketing partners, Box Office offers pricing that is up to 50 percent lower than competing platforms and gives hosts and performers the ability to earn a share of resale revenues. For fans, every ticket they purchase earns them credits toward any sports, concert or theater ticket on SITickets.com.
“The existing self-service event management sites haven’t evolved fast enough, as they can only list events and provide software to scan a barcode,” Lane said. “With Box Office, games, shows and conferences of all sizes can now achieve a superior and more cost-effective solution that includes unmatched visibility on a global marketplace, no hardware costs, free credits for their attendees and Sports Illustrated Tickets as their partner.”
At launch, SI Tickets will offer access to a wide variety of venues from youth football, basketball, hockey, cheer and dance competitions to fashion shows and live music bars. The platform has future plans to partner with a range of organizers and vendors across sports, health and fitness, concerts, comedy and nightlife, industry functions, and philanthropy.
“It is thrilling to see disruptive web3 technology gaining traction through new use cases like NFT ticketing,” said Johnna Powell, Global Co-head at ConsenSys NFT. “We believe the partnership with SI Tickets will make it easier for owners, promoters, and facilitators to create a fan experience that reaches previously unseen levels of engagement.”
