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- Polygon has been tapped as the protocol of choice for new NFT ticketing platform.
- The platform was launched by SI Tickets and ConsenSys.
Ethereum-based layer-2 blockchain protocol, Polygon (MATIC) is receiving significant upticks in its ecosystem growth following the announcement that Sports Illustrated, a United States based sports publication outlet will be launching its Non-Fungible Token (NFT) ticketing platform on the Layer-2 network.
The ticketing platform from Sports Illustrated was floated through its SI Tickets unit and in conjunction with ConsenSys, the blockchain development outfit known as the creator of Metamask. The NFT Ticketing Platform is branded as an innovative, self-service event management and primary ticketing solution for the emerging Web3 world.
The ticketing platform is dubbed Box Office by SI Tickets and it is notably branded as the very first “global platform to combine a complete NFT ticket solution for events of any size with visibility and adjacency to traditional, non-NFT tickets alongside the biggest in sports, concert and theater on the SI Tickets marketplace.”
The choice of Polygon was not far-fetched as the protocol, through its newly launched zkEVM is designed to accommodate millions of transactions with relatively low cost charges. With Sports Illustrated boasting of about millions of users through which it has served over 50 million tickets, Polygon appears to be the right choice for the nature of scalability required to power its operations.
Through the Box Office by SI Tickets, owners, creators, and organizers can come together to devise strategies that can be beneficial and enhance productivity. The NFT ticketing innovation is even more beneficial to adopters as it offers 50% less cost compared to the competition as noted by the announcement.
The innovation will also improve the profitability of ticketing for event owners as they can also earn a share of the resale revenues from the tickets. In addition, every ticket purchased receives free credits toward any sports, concerts and theater on SITickets.com.
Building on the Polygon Advantage
Polygon is just one of many layer-2 scaling solutions on the Ethereum protocol, but by virtue of its pioneering role, it has the competitive advantage. This competitive advantage has been bolstered by its technological upgrades over the past few years, which has ultimately led to the launch of the zkEVM protocol.
Over the course of the past year, many mainstream non-crypto companies have embraced Polygon as the underlying substrate for their entry into the Web3.0 ecosystem. One of the prominent names that comes to mind as reported earlier by Crypto-News Flash is American coffeehouse chain, Starbucks Corporation.
Starbucks launched its loyalty program called Odyssey on Polygon, a move that it claimed resonated with its bid to deploy renewed technological evolution in a bid to reward its customers for their patronage.
Besides Starbuck other top brands including Mastercard, Nike and Adidas have also collaborated with Polygon to expand their Web3.0 pursuits.
