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Akira Ming
Akira Ming
May 26, 2023
News

Formula 1 Ticket Provider Platinium Group to Offer NFT Tickets on Polygon

In partnership with NFT platform Elemint and Web3 firm Bary, these tickets will be issued to attendees of the Monaco Grand Prix.
Formula 1 Ticket Provider Platinium Group to Offer NFT Tickets on Polygon

F1's leading ticket operator embraces blockchain tech in the latest racing event

Platinium Group, the largest ticket issuer for F1, is releasing NFT tickets in partnership with NFT platform Elemint and Web3 agency Bary. 

Per the official statement, these tickets will be minted on the Ethereum sidechain Polygon, which will be issued to spectators of the Monaco Grand Prix that runs from May 26th to 28th. Apart from offering entrance to the race, these tickets will continue to provide utility to holders after the event, such as hospitality perks and future race discounts, to encourage holders to remain loyal to the brand. 

In response to the company's Web3 venture, Bary Co-Founder Elie Zerbib said NFTs in the form of tickets would offer buyers transparency, traceability, seamless digital ticketing, personalization, and engagement. It is also crucial to create a smooth onboarding experience, as F1 racing is such a popular sport that has amassed billions of fans around the world. 

"By providing a completely seamless experience on the main website, the user doesn't need to have any Web3 knowledge to purchase the NFT ticket," said Zerbib. "We make users understand the benefits that come with this new type of ticketing and onboard them on a journey that will change their F1 experience."

According to Platinium CEO Bertrand Labays, the company truly believes in the major role that NFTs will play in the sports domain, which has led to its "imperative" choice to adopt blockchain tech. 

"We are delighted to introduce to our VIP clients this NFT ticket solution, which not only grants access to unparalleled experiences but also transforms into truly unique memorabilia perks – forever encapsulating the essence of this extraordinary moment," said Labays. 

Last year, Formula One filed crypto-related trademarks for its F1 abbreviation and Las Vegas Strip Circuit, claiming plans for crypto, NFTs, and other Web3 ventures. 

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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