Sports Illustrated is turning to the Polygon blockchain for a new platform to attempt to take on the event ticketing industry dominated by big names including Ticketmaster, Live Nation and Eventbrite. 

The company's ticketing site SI Tickets is partnering with web3 development firm ConsenSys to launch a service called "Box Office" that includes an NFT ticket solution to let event hosts offer collectibles and loyalty benefits. 

It could also upend the way tickets are resold on secondary markets and give event hosts a bigger portion of profits that typically go to scalpers or primary issuers, depending on the resale platform. The company's website says the service can be as much as 50% cheaper than current competition, and it also highlights the promise of increased revenue by "monetizing every resale of your tickets." 

(by Nathan Crooks)