The ticketing division of US sports publication Sports Illustrated has revealed its decision to transfer its non-fungible token (NFT) ticketing platform, "Box Office," from the Polygon blockchain to Avalanche, almost ten months post-launch.
In a partnership announced on February 20, SI Tickets disclosed its collaboration with Ava Labs, the developer behind the Avalanche network. This partnership will enable the NFT ticketing platform to mint NFT tickets using the Avalanche blockchain. Furthermore, Avalanche will support the box office in transforming event tickets into dynamic content to engage with attendees effectively.
Initially launched on Polygon in May 2023, the NFT ticketing platform allowed event organizers to provide exclusive benefits to their guests, including fast-track pre-event passes, drink vouchers, and music downloads. NFT ticket holders also received post-event video content and additional rewards linked to their event tickets.
CEO of SI Tickets, David Lane, emphasized the company's shift from Polygon to Avalanche, citing Avalanche's resources, technology, intellectual capital, and market leadership as pivotal to the partnership's success. He underscored the advantages of NFT technology in ticketing, highlighting its potential to transform traditional ticketing systems by turning barcodes into engagement opportunities for event owners, venues, performers, sponsors, and attendees.
Addressing the convergence of NFTs and sports, Lane noted the burgeoning NFT sports market's ability to attract sports enthusiasts to the Web3 realm. He anticipates continued growth in this market as fans recognize the value of NFT products. Lane believes that ticketing represents a significant use case for mass adoption of NFTs and blockchain technology, citing blockchain-based tickets' myriad benefits in enhancing engagement and creating new revenue streams for event organizers while offering guests exclusive content and rewards.
