Technology / 03.17.21
Ted Leonsis Sees a Blockchain Future in Ticketing
Yahoo! Sports (03/16/21)
Monumental Sports & Entertainment CEO Ted Leonsis explains that pro sports teams have spent the last 12 months converting "brick-and-mortar and paper into digital," and he envisions a time when the ticket is a product in and of itself, "because it does something other than let [the purchaser] into the building." Eventellect co-founder Patrick Ryan supports Leonsis' vision, to the degree that "[you have to create] a value-add that no bar, restaurant, Top Golf, cinema can compete with. But teams don't need to have a digital ticketing platform to do that." Leonsis' ticketing concept not only adds value for attending fans, but also could expand the potential buyer pool. He cites the blockchain as providing not just a memory of the event in the form of a non-fungible token, but also as a tool for transforming a one-time static paper transaction "into an ongoing, recurring transaction." As Leonsis describes it, "what a blockchain can do, is say we're all in this together." Whenever the ticket is resold, the club can take a piece of the transaction.
Read the full story from Yahoo! Sports.
Tags: News , Blockchain