According to CEO of SI Tickets David Lane, NFT tickets have the potential to provide event organizers and ticket holders with greater options and experiences than standard tickets, which just wind up in the garbage.
The ticket division of American sports publication Sports Illustrated revealed that, over ten months after its debut, it is switching its nonfungible token (NFT) ticketing platform, named “Box Office,” from the Polygon blockchain to Avalanche.
The Avalanche network developers, Ava Labs, and SI Tickets announced their partnership on February 20. By utilizing the Avalanche blockchain, the agreement will enable the NFT ticketing platform to mint its NFT tickets. To further engage visitors, Avalanche will help Box Office turn event tickets into dynamic content.
To give event planners the ability to offer their guests exclusive perks including fast entrance permits, drink vouchers, and music downloads prior to events, the NFT ticketing platform was introduced on Polygon in May 2023. Along with additional perks linked to their event ticket, NFT ticket holders may also receive post-event video footage.
SI Tickets CEO David Lane announced that the company will now be minting its NFT tickets with Avalanche, in contrast to its previous partnership with Polygon, in a statement provided to Cointelegraph. The alliance will benefit from Ava Labs’ “resources, technology, intellectual capital, and the market leadership,” according to Lane.
The use of NFT technology in ticketing has numerous benefits, he further said. When a ticket is scanned at the event doors, it becomes useless, according to Lane. Tickets no longer have any purpose after that point and are merely thrown away. All that will change, though, with NFT ticketing. Now, the event owner, venues, performers, sponsors, and spectators can all interact and activate through the barcode, he said.
Owners of events gain from the adoption of blockchain-based tickets since it offers chances for guest interaction through monetizable content. In Lane’s opinion, this opens up more sources of income. Visitors may also take advantage of prizes and content that is just available to them.
