Platinum Group Releases NFT Tickets for the Monaco Grand Prix
Platinium Group, the leading ticketing provider for Formula 1, is releasing non-fungible token tickets for the Monaco Grand Prix.
The NFT tickets will provide holders access to the race, hospitality benefits, and discounts.
The Monaco Grand Prix is releasing NFT tickets in partnership with the ticketing provider Platinium Group. The latter has partnered with the blockchain infrastructure firm Eleming and web3 agency Bary. The tickets will be released on Polygon, a Layer-2 scaling solution.
The NFT tickets will grant holders access to the race, offer hospitality benefits, and the chance to receive discounts on future events. The cost of individual NFT tickets, their transferability to secondary markets, and their saleability are all unknown at this time. In addition, several NFT owners will have the possibility to attend an exclusive party of the Monaco Grand Prix.
“Web3 technologies make it possible to design ticketing solutions that are more secure and more adapted to the specificity of each event. The experience becomes more personalized and fun for fans of all types of sports competitions,” said the CEO of Elemint, Jacques-Henri Eyraud.
Notably, this is not Formula 1’s first web3 initiative. In February, cryptocurrency exchange Kraken signed a multi-year deal with Williams Racing, a Formula 1 team. The team’s clothes and vehicles will feature the exchange’s logo. In April 2022, Crypto.com created a Formula 1 NFT collection to inaugurate the Miami Grand Prix.
In June 2022, F1’s Amber Lounge released a collection of 1,888 invite-only NFT memberships. The tokens give holders lifetime access to VIP parties held by Amber Lounge, as well as other international VIP Pop-Up events.
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