Sports Illustrated’s CEO David Lane Talks About Box Office, NFTs, and Mass Adoption
In the world of sports, music, and entertainment, getting your hands on tickets for the hottest events can be a bloodbath. Scammers, bots, and high demand contribute to the chaos, leaving fans frustrated and empty-handed. But what if you could buy a ticket that is unique, verified, and almost impossible to counterfeit? That’s where NFTs come in.
Sports Illustrated is leading the charge with the launch of its NFT ticketing platform, Box Office. It’s a game-changer, marking the legendary sports brand’s entry into primary ticket sales and SI Tickets’ secondary marketplace in 2021.
The platform is now part of SI Tickets, an online marketplace that resells tickets to famous athletic, musical, and theatrical events. But unlike other ticketing platforms, Box Office is accepting ticket listings for smaller community events like Eventbrite and DICE. They’re going after the self-service event market, as SI Tickets CEO David Lane explains: “We’re not here to compete against Ticketmaster. We’re trying to create the first mass-market adoption of NFT ticketing.”
NFTs, or non-fungible tokens, are digital assets that use blockchain technology to verify ownership and authenticity. They’ve been making waves in the art world, with multimillion-dollar sales of NFT artwork by the likes of Beeple and Grimes. Now, they’re making their way into the mainstream with the launch of Box Office.
Box Office aims to create the first mass-market adoption of NFT ticketing, making it accessible to everyone from a 15-year-old to a 90-year-old. As Lane puts it, they want to remove the barriers to entry: “so that everyone can buy their first NFT ticket without having to go through a crypto tutorial on the blockchain, or have to get a wallet and understand any aspects of it.”
With Box Office, fans can be assured that they’re getting a verified, unique ticket that can’t be counterfeited. And for event organizers, it opens up new possibilities for revenue and engagement. They can offer exclusive perks and experiences to NFT ticket holders, creating a new level of fandom and loyalty.
It’s a new era of ticketing, and Sports Illustrated is leading the charge. As Lane says, “We’re trying to create a whole new industry around NFT ticketing, and we believe it has massive potential.” With the launch of the Box Office, NFTs are well on their way to becoming a staple in the world of sports and entertainment.