• Sat. Jul 20th, 2024

Binance Partners With Serie A Club To Issue NFT Tickets

Jul 28, 2022

According to reports, crypto exchange, Binance is set to launch its first NFT football tickets. The NFT tickets aim to allow fans to watch football games. 

Since the launch of Web3  several companies have been working to maximize its full potential. Meanwhile, at the 2022 UEFA Champions League Final, several participants could not enter the stadium. 

This was after they presented fake tickets at the gate. The football fans bought most of the tickets from online vendors. 

After the incident, participants in the crypto industry suggested the use of NFT tickets. This is due to its uniqueness, authenticity, and right of ownership.

Binance Partners With Serie A’s Lazio To Launch NFT Tickets 

Binance exchange has issued its pilot NFT ticketing project in partnership with the football club Lazio. Spectators will only use the tickets for the 2022 – 2023 season for Lazio home games.

According to Cointelegraph’s report, Binance said the NFT tickets would end the problem of counterfeit tickets. Also, it would eliminate the issue of scalping, which usually causes disorder at sports events.

Meanwhile, the report added that the NFT tickets would serve other uses apart from ticketing. It would match and store discounts, token giveaways, etc., for those visiting Lazio’s home games.

Through the partnership, Binance would provide digital tickets for fans watching Lazio home games. Marco Canigiani, an official at the football club, said those who already have tickets could claim the digital tickets free of charge.

Afterward, they can use the digital tickets to enter the Stadio Olimpico. Also, Canigiani said they would enjoy other benefits accrued with the digital ticket.

Using Blockchain-based Tickets To Solve Issue Of Fake Tickets

Furthermore, Zoe Wei, an executive at Binance, commented on the latest NFT tickets. The executive said the launch highlights another way to use non-fungible tokens. 

Also, it shows the wide potential of Web3 technology. Wei added that the blockchain-based tickets might eventually expand to other areas such as the entertainment industry.

Also, France is considering using blockchain-based tickets for the upcoming FIFA World Cup 2022. Meanwhile, UEFA blamed counterfeit tickets for the crisis that occurred at the last game of the Champions League.

The problem spurred comments from experts in the Web3 industry. They suggested the use of a blockchain-based ticketing system to solve the problem. 

In a recent interview, CEO of YellowHeart NFT market, Josh Katz, argued that using NFT for tickets is compelling. He said NFTs provide authenticity for every ticket, eliminating fake tickets. 

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