Avalanche bought a stake in Sports Illustrated Tickets, gaining access to its NFT-enabled ticketing service called Box Office. Avalanche is now tasked with working as a blockchain provider to Box Office, a project that enables users to set up free and/or paid events.
The development is positive for NFT and blockchain-based ticketing services. Plus, it means Avalanche is expanding its arms to serve a new partner. A segment where Sports Illustrated Tickets, also known as SI Tickets, gains an edge in the market is in offering exclusive offers, NFT videos, and loyalty benefits, to mention a few. The same has been confirmed by the platform in a press release.
SI Tickets has further said in the press release that the platform has issued approximately 300,000 tickets to date through Box Office.
John Nahas, the Senior Vice President of Business Development at Ava Labs, said that they had been in talks with SI Tickets since the beginning, assuring them of services at a time when it joined hands with Polygon in association with Consensys. Nahas added that Polygon had its moment, but the platform was coming back to them. John further stated that SI Tickets told them that everything they promised seems true with everything they have been doing for others already.
This marks a continuous investment of efforts by Ava Labs to cover a broader region of NFT tickets. The company previously bought a stake in tixbase, a Web3 ticketing platform. Then, it reported an integration with Dreamus, a South Korean concert ticket platform.
AVAX’s prices do not precisely reflect optimism toward the development. The native token is down by 5.205 in the last 24 hours, listed at $36.91 when articulating this piece. It further reflects a slip of 11.21% in the last seven days and a rise of 19.34% in the last 30 days. The 24-hour volume is up by 2.79% for AVAX.
The movement of SI Tickets to the Avalanche ecosystem comes days after Avalanche bagged a profit-sharing digital security with Republic, a crypto investment platform. The idea is to list Republic Note on Avalanche Blockchain effective December 06, 2023, through INX, a US-regulated trading platform. Investors – accredited or non-accredited – can access the Note provided they have completed the KYC process.
Days later, Avalanche achieved another feat. It flipped five tokens in 2 weeks to enter the list of the top-10 crypto in terms of Market Cap. Tokens that rallied behind were BCH, MATIC, LINK, TRX, and DOT, according to reports dated December 07, 2023.
A partnership with SI Tickets strengthens its place in the market. Avalanche could be a rising trajectory despite a downfall in the valuation of AVAX. What remains to be seen is the kind of results the partnership with Sports Illustrated Tickets will roll out.