Sports Illustrated, the American sports magazine, has announced the launch of its own non-fungible token (NFT) ticketing platform. The new platform, built on the Ethereum-based blockchain Polygon, aims to provide an innovative solution to the growing demand for secure and verifiable digital tickets.
Through the platform, Sports Illustrated will offer NFT tickets for major sporting events, including the Super Bowl, NBA Finals, and the Olympics. The platform will also feature a secondary market where fans can buy and sell NFT tickets, offering an alternative to traditional ticketing methods.
The use of blockchain technology for ticketing has gained popularity in recent years due to its ability to provide a secure and transparent way to manage tickets. NFTs, in particular, have emerged as a popular choice due to their unique properties, which make them tamper-proof and verifiable.
Polygon, the Ethereum scaling solution, was chosen as the blockchain for Sports Illustrated’s new platform due to its low transaction fees and high throughput capabilities. This will enable the platform to handle a high volume of transactions without slowing down or becoming congested.
The launch of Sports Illustrated’s NFT ticketing platform marks a significant step in the adoption of blockchain technology in the sports industry. It demonstrates the potential for blockchain to revolutionize the way sporting events are managed, providing fans with a more secure and transparent way to buy and sell tickets.