ETH - This New Innovation Could Change the Way You View This Underperforming Crypto
2023-05-05 07:20:00 ET
Last year, the narrative about Polygon (CRYPTO: MATIC), which is a Layer 2 scaling solution for Ethereum (CRYPTO: ETH), primarily focused on The Merge. But with The Merge complete, the focus of investors in 2023 has shifted to Polygon's initiatives in the non-fungible token (NFT) space. And nothing Polygon does here seems to move the needle with investors. The crypto still trades at just $0.98, which is approximately where it was trading in the lead-up to The Merge.
Polygon's latest initiative is a collaboration with Sports Illustrated on the launch of an NFT ticketing platform called Box Office. If successful, this project could change the minds of many investors about Polygon's future growth prospects.
The Box Office NFT ticketing platform is built on top of Sports Illustrated's existing ticket marketplace (SI Tickets). As a result, Box Office will function much the same as a traditional ticketing platform -- with one key difference. Instead of receiving a ticket with a barcode that can be scanned, ticket buyers will receive an NFT. This digital asset will reside in the blockchain wallet of the buyer and can be used for admission to the event. You simply show the NFT at the venue the same way you would show a digital ticket on your mobile phone.
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This New Innovation Could Change the Way You View This Underperforming Crypto