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SI Tickets Launches Blockchain-Powered "Box Office" Platform with NFT Super Tickets for Enhanced Event Experience
SI Tickets, a ticketing subsidiary of Sports Illustrated, has recently launched a blockchain-powered event management and a primary ticketing solution called "Box Office." The platform was developed in partnership with ConsenSys, a well-known Web3 software developer, and offers a fully scalable, paid, or free ticketed live sporting event management solution to organizers, owners, and hosts.
To offer a more connected and engaging experience, SI Tickets and ConsenSys are working together to develop a "Super Ticket" that will use non-fungible token (NFT) technology.
The "Super Ticket" allows event organizers to stay connected with their attendees by offering them exclusive benefits, such as highlights, collectibles, drink coupons, music downloads, post-event video content, and rewards. Through NFT technology, guests can scan their tickets for expedited entry passes, and the tickets will remain in their digital wallets forever.
David Lane, the CEO of SI Tickets, believes that blockchain is the future of ticketing. SI Tickets has expanded to a marketplace inventory of over $2.5 billion since its start in June 2021. The platform does not charge transaction fees on any purchase and offers a 100% refund if an event is canceled for any reason.
Event planners must pay $1.40 to Box Office in addition to a 3% commission fee per ticket and 3% merchant pass-through costs. SI Tickets aims to disrupt the primary ticket market by using blockchain technology, offering a seamless and secure ticketing experience for event organizers and attendees alike.
The introduction of NFTs in ticketing is a novel and innovative way to enhance the overall event experience. It provides a unique opportunity for attendees to own a piece of the event and offers event organizers a new revenue stream and an opportunity to create a loyal customer base. With the launch of Box Office, SI Tickets has taken a significant step towards revolutionizing the ticketing industry.