The NFT ticketing program makes its debut at the Formula 1 Grand Prix. As part of this program, Elemint, Bary and Platinum Group have chosen a well-known altcoin as partners. The NFT ticketing program will go live for the first time at the Formula 1 Monaco Grand Prix.
Thanks to this altcoin, NFT ticket application starts in Formula 1
As Cryptokoin.com stated, Formula 1 Monaco Grand Prix launched a special NFT ticketing program in partnership with Polygon, Web3 companies Elemint and Bary and Platinium Group, the largest ticketing operator of F1 events worldwide.
The iconic F1 race will take place May 26-28. For this, attendees will be given customized, tamper-proof NFT tickets that can also be used as digital collections and unique souvenirs to commemorate the event. Over time, NFT tickets will also become the key to post-race hospitality or future Grand Prix events. It will also unlock additional benefits such as ticket discounts. It will also provide loyalty benefits for returning viewers of Formula-1 events.
NFTs are an excellent alternative to paper tickets due to their traceability, programmability and non-reproducibility. So it has the potential to overcome many of the problems faced by legacy ticketing systems.
NFT ticketing: Here are all the details
As expected, Elemint and Bary are building a new ticketing platform that altcoin project Polygon will support. They have formed a partnership with the Platinum Group to transform the Formula 1 ticketing experience through this platform. The iconic Formula 1 Monaco Grand Prix will serve as the launch event for this new service, which will be available throughout the competition, from practice to qualifying and then the race itself.
Specifically, Elemint has created a secure platform that allows users to receive a unique and inimitable digital ticket (in the form of NFT) to be issued on the Polygon Blockchain. One of the benefits of using NFTs and Blockchain technology is that it helps prevent the issuance of fake tickets. Also, the new system will prevent tickets from being resold on the black market.
NFT tickets will come in the form of digital collectibles for every Formula-1 Grand Prix. It will also turn each one into a unique digital memento after the event. What’s more, tickets and souvenirs can also be personalized. In fact, each of them has a key. These will showcase the various iconic stages of the Monaco Grand Prix circuit, such as the hairpin, Sainte-Dévote or Casino.
Comments on new NFT tickets in partnership with Polygon
Urvit Goel, Vice President of Polygon Labs, made the following statement on the subject:
Working with Elemint, Bary and the Platinum Group, we will reinvent the Formula 1 ticketing experience. The ticketing platform will increase the authenticity of tickets by combining the robust security of Ethereum with the fraud-resistant uniqueness of NFT. It will also provide fans with lasting digital memories while preventing forgery. It is extremely encouraging to see major events acknowledging the benefits that NFT tickets and Blockchain technology can offer.
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