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crypto.news 2024-12-11 22:19:47

Sports Illustrated Tickets and New York Red Bulls partner to launch blockchain-powered ticketing

Sports Illustrated Tickets and New York Red Bulls partner to launch blockchain-powered ticketing

The New York Red Bulls announced a 13-year blockchain-related partnership with Sports Illustrated Tickets, rebranding their home venue in Harrison, New Jersey, as “Sports Illustrated Stadium.” At the heart of the partnership is Sports Illustrated Tickets’ blockchain-powered platform, Box Office, which was developed in collaboration with Ava Labs, according to a press release shared with crypto.news. This technology will use the Avalanche ( AVAX ) blockchain to create a secure and interactive ticketing system for all events at the 25,000-seat stadium. Speaking to crypto.news, Sports Illustrated Tickets CEO David Lane said Avalanche was selected for this project due to its high speed and scalability. “Avalanche allows for the creation of custom subnets, providing flexibility and control for managing ticketing data,”Lane added. For attendees unfamiliar with blockchain , it helps to think of it as a way to verify and secure digital information. In this case, each ticket becomes a unique digital asset that fans can securely hold in digital wallets. This setup prevents counterfeiting and allows for efficient transfers or resales, providing peace of mind to both buyers and sellers. “Each ticket is a unique, verifiable asset recorded on the blockchain, making duplication impossible,” the SI executive said. You might also like: SEC charges 3 people in $2.9m Bitcoin scam Blockchain turns tickets into fan memorabilia Beyond its security benefits, the AVAX blockchain integration turns tickets into dynamic digital assets. These assets could include perks like personalized content or exclusive offers, such as discounts on concessions or merchandise like “Limited-edition jerseys, scarves, or digital collectibles featuring player signatures or team logos.” Sports Illustrated Stadium will be one of the first venues to integrate such features, potentially setting a new standard in sports and entertainment. The ticketing system also includes NFT options. Unlike regular tickets, NFTs offer additional layers of interactivity and collectibility. Fans might receive customized digital mementos from matches or concerts, turning their tickets into keepsakes that can be shared or traded online. You might also like: Alchemy Pay plans to launch its own layer-1 blockchain

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