Purchasing stock in Sports Illustrated Tickets gave Avalanche access to Box Office, the company’s NFT-enabled ticketing platform. Now, Avalanche’s job is to collaborate with Box Office, a business that lets users create free and/or paid events, as a blockchain supplier.
For NFT and blockchain-based ticketing systems, the development is favorable. It also indicates that Avalanche is reaching out to a new partner. Offering exclusive deals, NFT videos, and loyalty perks are just a few areas where Sports Illustrated Tickets, or SI Tickets, have a competitive advantage. The platform has confirmed this in a news statement.
According to a press release from SI Tickets, the platform had sold about 300,000 tickets through the Box Office as of this writing.
Ava Labs’ Senior Vice President of Business Development, John Nahas, stated that the company had been in communication with SI Tickets from the start, promising them services when it partnered with Polygon in conjunction with Consensys. Polygon had its time, Nahas said, but the platform was returning to them. John went on to say that SI Tickets informed them that, based on everything they have already done for others, everything they had promised seemed to be genuine.
This signifies Ava Labs’ ongoing commitment to expanding its coverage of NFT tickets. The business previously purchased stock in the Web3 ticketing platform Tixbase. Then, it announced a connection with Dreamus, a platform for South Korean concert tickets.
The pricing of AVAX does not exactly indicate optimism over the development. When articulating this piece, the native token was valued at $36.91, down 5.205 from the previous day. It also shows a decrease of 11.21% over the previous seven days and an increase of 19.34% over the previous thirty days. For AVAX, the 24-hour volume has increased by 2.79%.
Days after Avalanche and Republic, a cryptocurrency investment platform, won profit-sharing digital security, SI Tickets are now part of the Avalanche ecosystem. Republic Note is intended to be listed on Avalanche Blockchain through INX, a US-regulated trading platform, on December 06, 2023. Investors who have finished the KYC process, whether accredited or not, are eligible to access the Note.
Avalanche pulled off another coup a few days later. In just two weeks, it moved five tokens to rank among the top ten cryptocurrencies by market capitalization. BCH, MATIC, LINK, TRX, and DOT were the tokens that gained traction, according to news dated December 07, 2023.
Its position in the market is strengthened by its relationship with SI Tickets. Despite a decline in AVAX’s price, avalanche may be on the rise. It is yet to be seen what kind of outcomes the collaboration with Sports Illustrated Tickets would bring forth.
