Ticketmaster has acquired blockchain technology company Upgraded.
The startup uses blockchain technology combined with encrypted barcodes to prevent fraud often associated with paper or pdf-based tickets.
According to Upgraded, the solution can be implemented without requiring a venue to replace existing access control hardware.
The Upgraded team and technology fit into Ticketmaster’s live event products such as Presence, Verified Fan and Blink Identity, a facial recognition tool.
Presence, a venue access control and fan engagement platform has been implemented in more than 175 venues across North America and is now driving league-wide digital ticketing at scale with the NFL.
Verified Fan is a direct to fan pre-registration platform that has supported more than 100 music tours to date.
“Ticketmaster is constantly exploring emerging technologies, and there aren’t many that have the unique possibilities of blockchain.”
Justin Burleigh, Ticketmaster
“Ticketmaster is the unquestioned leader in live event ticketing and is the perfect platform for us to bring the unique promise of blockchain to millions of fans,” said Sandy Khaund, Founder and CEO of Upgraded.
“Upgraded leverages Blockchain to maximize trust for ticket holders, give control and flexibility to content owners, and data to teams and performers. We’re proud of what we’ve built and are looking forward to working with the incredible team at Ticketmaster to help us scale.”
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.
“We’re excited to have Upgraded join the team as we continue to focus on providing the world’s leading identity-based ticketing platform to fans, artists, and our clients. We think blockchain and Upgraded will continue our progress to improve ticketing and create a safer and more seamless experience.”Music Business Worldwide