Sports Illustrated Tickets (SI Tickets) confirmed the launch of Box Office, a non-fungible token (NFT) ticketing platform. Box Office is a self-service ticketing service built on the Polygon blockchain, an Ethereum scaling solution.
Based on official reports, Sports Illustrated’s marketplace partnered with Ethereum software company ConsenSys to develop Box Office. Notably, SI Tickets is a department of the Sports Illustrated magazine and media company.
Introducing Box Office, the all-new event management platform from Sports Illustrated Tickets 🎟️
Create and sell tickets for your own free or paid event on our site. Partner with us for an easy event set-up and lower fees than our competitors. #sitickets #sportsillustrated pic.twitter.com/84ASQkZUYg
— SI Tickets (@si_tickets_) May 2, 2023
Based on the official announcement, Box Office ranks as the first global platform to integrate an entire NFT ticket solution for events of all sizes with adjacency and visibility to the traditional, non-NFT tickets together with the largest in concert, sports, and theater on the SI Tickets platform.
Box Office offers a smooth experience that gives organizers, owners, and hosts the capability to develop, manage, and promote a wholly scalable, paid, or free ticketed live performance, sporting event, or function powered by the Sports Illustrated Tickets platform.
David Lane, SI Tickets CEO, explained that the new marketplace strives to “disrupt the primary ticket market.”
He explained:
“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.”
Box Office caters to the largest events in music and sports but it welcomes ticket listings from smaller ticket issuers. These smaller ticket issuers normally appear on ticketing platforms like DICE and Eventbrite.
Lane explained that Sports Illustrated does not intend to compete against SeatGeek, Ticketmaster, or AXS. Instead, SI Tickets targets the self-service event market. The company aims to develop the first mass-market adoption of NFT ticketing to enable everyone to purchase their first NFT ticket without needing a crypto tutorial on the blockchain.
Interestingly, users will also not need to get a wallet or understand any aspects of the crypto wallet operations.
These Box Office NFT tickets are expected to offer lots of benefits to the holders. Besides granting entry, event planners can equip their tickets with photo and video content, customized messages, collectables, loyalty rewards, and promotional offers. Tickets are available within the SI Tickets app.
By integrating blockchain technology with its ticketing system, Sports Illustrated appears to be following in the footsteps of other firms seeking to enhance security and efficiency. For instance, Ticketmaster partnered with Dapper in September last year to let event organizers sell tickets as NFTs.
In March 2023, it also activated NFT-gated sales, allowing vendors to sell mainly or exclusively to owners of particular NFTs.
Notably, airline firms have also begun adopting NFT-powered ticketing networks. For instance, in March, Flybondi partnered with TravelX to provide flight tickets as NFTs, offering increased flexibility, security, and transparency.
