Ticketmaster acquires blockchain tech company Upgraded to prevent paper ticket fraud
Ticketmaster has bought start-up Upgraded, which uses blockchain technology and encrypted barcodes to prevent fraud often associated with paper or pdf-based tickets.
It gives organizers more information about where their tickets are being distributed and who their attendees are.
It can be implemented without requiring a venue to replace existing access control hardware.
Its founder and CEO Sandy Khaund, says, “Upgraded leverages Blockchain to maximize trust for ticket holders, give control and flexibility to content owners, and data to teams and performers.”
Justin Burleigh, chief product officer at Ticketmaster, North America, added: “Ticketmaster is constantly exploring emerging technologies, and there aren’t many that have the unique possibilities of blockchain.”
Blockchain is being increasingly identified as the technology that could solve issues with primary and secondary ticketing.
Ticketmaster’s live event technology includes new generation venue access control and fan engagement platform Presence; direct to fan pre-registration platform Verified Fan which has been adopted by 100 music tours to date; and facial recognition tool Blink Identity.