Platinium Group, a ticket issuer for Formula 1, released NFT (non-fungible token) race tickets ahead of the Monaco Grand Prix, which took place at the weekend.
The Monaco-headquartered ticketing technology company teamed up with blockchain infrastructure company Elemint and Web3 agency Bary to create, mint and sell the NFT tickets.
Tickets were minted on Ethereum sidechain Polygon, with the tickets providing access to the race, additional hospitality benefits and future race discounts.
Bary co-founder Elie Zerbib told CoinDesk: “By providing a completely seamless experience on the main website, the user doesn’t need to have any Web3 knowledge to purchase the NFT ticket. We make users understand the benefits that come with this new type of ticketing and onboard them on a journey that will change their F1 experience.”
Jacques-Henri Eyraud, chief executive of Elemint, added: “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 personalised and fun for fans of all types of sports competitions.”
Sunday’s Monaco Grand Prix was won by Red Bull’s Max Verstappen, with Aston Martin’s Fernando Alonso second and Alpine’s Esteban Ocon in third.