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Binance will develop NFT tickets for S.S. Lazio

In response to the trouble that fake tickets caused in the UEFA Champions League 2022, the crypto exchange Binance has announced that football club Società Sportiva Lazio will test its nonfungible token (NFT) ticketing solution for the 2022–2023 season.

In a message to Cointelegraph, Binance said that NFT tickets would solve the problem of fake tickets and stop scalping, making sporting events run more smoothly. The NFT tickets will be used for more than just getting into events. They will be used for discounts at stores and gyms, token giveaways, and other research with S. S. Lazio.

Due to the partnership, NFT tickets can be bought for all S.S. Lazio home games. Marco Canigiani, who works for S.S. Lazio, said that current ticket holders would be able to declare their NFT tickets for free and use them to get into Stadio Olimpico and use the benefits of the virtual tickets.

Zoe Wei, an executive at Binance, said that the launch of NFT ticketing shows a new way to use NFTs and an important way to use Web3 technology. Wei said that blockchain-based tickets could eventually be used for more than just sports and could be used in the leisure industry as a whole.

In May, UEFA said that the chaos at the Champions League final in Paris was caused by thousands of fake tickets. The event brought up a problem with the way tickets are usually sold, which led Web3 experts to say that blockchain-based ticketing might be able to solve the problem.

Josh Katz, the CEO of the NFT market YellowHeart, said in a recent interview that tickets are the best use case for NFTs. The manager emphasized that event organizers may be able to protect themselves from fake tickets by requiring proof of validity for each ticket price.

Binance and S.S. Lazio

Claudio Lotito, owner and president of S.S. Lazio football club, with the club's new kit

Cryptocurrency exchange platform Binance has become the club's new main shirt sponsor after signing a partnership agreement with Italian football club S.S. Lazio in October 2021.

The Binance brand made its debut on Lazio's kit against league champions Inter Milan on October 16.

Founded in China in 2017 and registered in the Cayman Islands, the arrangement also see Binance produce a Lazio fan token, something that has already been seen at the likes of Inter and AS Roma.

This news is based on NFT News Pro newsletter and Cointelegraph's newsletter.

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