The recently concluded Monaco Formula 1 Grand Prix has revolutionized fan experience, introducing the NFT ticketing feature by Platinium Group, F1's largest global ticketing provider. The new solution enabled fans to enjoy a whole new level of exclusivity, personalized features, and experiences that cannot be obtained through traditional paper tickets. The personalized NFT tickets, acting as both secure entrance passes and unique digital collectibles, were minted on Polygon blockchain to ensure enhanced security and authenticity.
Platinium Group joined forces with Elemint, a blockchain infrastructure company, and Web3 agency, Bary, to create, mint, and sell NFT tickets. Three companies combined their expertise and experience to provide a distinctive and innovative solution.
The NFT tickets not only granted access to the race but also offered post-event benefits, including hospitality advantages and discounts on future races, to incentivize collectors to remain committed to the brand. Some NFT holders also received invitations to attend the most exclusive party of the competition.
Jacques-Henri Eyraud, CEO of Elemint, has stated that he believes the use of blockchain technology for ticketing will have far-reaching applications beyond Formula One racing and into the larger industry of sports and entertainment.
"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," he added.
Meanwhile, Platinium Group's decision to launch NFT tickets is an innovative move that provides a new level of engagement with fans. The use of blockchain technology guarantees that tickets are unique, tamper-proof and provide a secure entry process. This, in turn, will further enhance the fan experience, providing greater convenience, security, and excitement.