Sports Illustrated has made a move to the Avalanche network for its nonfungible token (NFT) tickets. The magazine’s ticketing platform, Box Office, will now collaborate with Ava Labs, the developers behind Avalanche. This partnership means that Box Office’s NFT tickets will now be minted on the Avalanche network.
According to SI Tickets CEO David Lane, the introduction of NFT ticketing will revolutionize the ticketing industry, as traditional tickets often end up discarded after events. With NFT tickets, Lane believes that there will be more opportunities for engagement between event owners and attendees.
In other news, Mocaverse, KuCoin, and Halo have joined forces to streamline cross-platform identity. Mocaverse’s nontransferable NFT digital identity, known as “Moca ID,” will be combined with KuCoin’s user accounts and Halo’s Genesis membership pass. This collaboration aims to address the challenge of accessing benefits across different Web3 sub-ecosystems, such as trading, digital collectibles, and the metaverse.
WWE has also made its mark in the NFT space by releasing a digital collection of Donruss Elite cards on the Panini Blockchain. This collection features WWE superstars like John Cena, Steve Austin, and Roman Reigns. This is not WWE’s first foray into NFTs, as they previously released NFT collections in 2021, offering benefits such as front-row tickets to Wrestlemania for the highest bidder.
Lastly, Yuga Labs has acquired Proof, a company known for its NFT collections Moonbirds, Oddities, Mythics, and Grails. Yuga Labs will now have access to Proof’s assets, intellectual property, and team members. Additionally, Proof’s founder and CEO, Kevin Rose, will serve as an adviser to Yuga Labs.
That concludes this week’s roundup of notable developments in the NFT space. Stay tuned for more updates and insights into this rapidly evolving industry.