NFT
It’s official: the NFT ticketing program in collaboration with PolygonElemint, Bary and Platinium Group will be launched for the first time on the Monaco Formula 1 Grand Prix.
Below are all the details.
NFT ticketing available for Formula 1 thanks to Polygon
As envisioned above, the Monaco Formula 1 Grand Prix is the launch event for an exclusive NFT ticket program launched in partnership with Polygon, Web3 companies Elemint and Bary, and Platinium Groupthe largest ticketing operator for F1 events worldwide.
The iconic F1 race, to be held from May 26-28, will be issued modified, non-falsifiable NFT tickets to participants, which also serve as digital collectibles and unique keepsakes to commemorate the event.
Over time, NFT tickets will be used as a digital key to unlock additional benefits, such as post-race hospitality or ticket discounts for future Grand Prix events, creating loyalty benefits for returning audiences from Formula 1 events.
NFTs are the perfect alternative to paper tickets because of their traceability, programmabilityand the fact that they cannot be duplicated, solving many of the problems of older ticketing systems.
NFT ticketing: all the details
As expected, Elemint and Bary have announced a partnership with Platinium Group to transform the Formula 1 ticketing experience through a new ticketing platform powered by Polygon.
The iconic Monaco Formula 1 Grand Prix will serve as the launch event for this new service, which will be available throughout the race: from practice to qualifying and then to the race itself.
In particular, Elemint has created a secure platform that allows users to receive a unique and tamper-proof digital ticket (in the form of an NFT) issued on the Polygon blockchain.
One of the benefits of using NFTs and blockchain technology is that it helps prevent the issuance of counterfeit tickets and prevent the resale of tickets on the black market.
NFT tickets come in the form of digital collectibles for each Formula 1 Grand Prix and turn them into a unique digital souvenir after the event.
In addition, the tickets and memorabilia are also personalized; in fact, each one has a key and will showcase different iconic stages of the Monaco Grand Prix circuit, such as the hairpin, the Sainte-Dévote or the Casino.
Bary, a specialist Web3 agency, Platinium Group, the largest ticket operator for all Formula 1 Grand Prix events, and Elemint join forces and now offer Formula 1 fans a safer and more interactive ticketing experience that offers loyalty benefits.
Statements regarding the new NFT tickets in partnership with Polygon
Urvit GoalVice President, Head of Global Business Development at Polygon Labs, said of the news:
“By partnering with Elemint, Bary and Platinium Group will reinvent the Formula 1 ticketing experience.
The ticketing platform combines the robust security of Ethereum with the counterfeit-resistant uniqueness of NFT to enhance ticket authenticity and prevent counterfeiting while providing fans with lasting digital memories.
It is extremely encouraging to see major events recognizing the benefits that NFT tickets and blockchain technology can bring.”
Jacques Henri EyraudCEO of Elemint, also expressed his enthusiasm for the project:
“Web3 technologies make it possible to design ticketing solutions that are more secure and more suited to the specificity of each event. The experience becomes more personal and fun for fans of all types of sports competitions.
Applications developed using Elemint’s Web3 technologies will completely transform the fan experience and relationship with sporting events for years to come.”
Eli Zerbibco-founder of Bary, said the following:
“We are delighted to present a revolutionary breakthrough in Web3 and sport with this solution developed for the 2023 Monaco Grand Prix.
By partnering with the organizers of this legendary event and Elemint, we have been able to provide a secure, transparent and immersive ticketing solution that paves the way for many others.”
