Binance goes into NFTs with Società Sportiva Lazio partnership

Crypto exchange Binance has launched the pilot of its nonfungible token (NFT) ticketing solution with football club Società Sportiva Lazio for the 2022 to 2023 season.

Per Cointelegraph, Binance is looking to solve the issue of fake tickets and eliminate scalping, preventing disorder in sporting events.

Apart from access to events, the NFT tickets will also serve other purposes such as store and match discounts, token giveaways and other experiences with S. S. Lazio.

With the collaboration, NFT tickets will be available for all of S. S. Lazio’s home matches.

In May, UEFA blamed thousands of fake tickets for the chaos that happened in the Champions League final in Paris.

The event highlighted a problem with traditional ticketing systems, spurring comments from Web3 experts on how blockchain-based ticketing can provide a solution.