Ticketmaster Acquires Live Events Blockchain Company Upgraded

– Blockchain ticketing
Ticketmaster acquired Upgraded

Ticketmaster today announced the acquisition of Upgraded, a blockchain technology company servicing the live events industry.

“Upgraded converts traditional tickets into secure interactive digital assets protected by blockchain, providing event creators with more control and visibility over ticket distribution, and protecting fans against fraudulent tickets,” the announcement states.

Ticketmaster aims at creating a safe and personalized experience for fans while providing event owners with the data showing them where their tickets are distributed and who the event attendees are.

Upgraded’s technology is a combination of blockchain technology and dynamic, encrypted barcodes, thereby eliminating paper of pdf ticket fraud. The solution does not require venue to replace existing access control hardware.

A Ticketmaster statement reads: “The Upgraded team and technology fits into a suite of breakthrough live event products that include Ticketmaster Presence, Verified Fan, and Blink Identity, a facial recognition tool.”

Upgraded founder and CEO Sandy Khaund said, “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. 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.”

Pollstar has been following the developments with regard to blockchain and ticketing closely over the past months, looking at ways the technology could solve issues with primary and secondary ticketing, including interviews with blockchain companies such as Blockparty or Aventus.