Ticketmaster has scooped up blockchain-based ticketing platform Upgraded, hoping to add a layer of transparency, control and fraud protection to the ticketing process.
Upgraded converts traditional tickets into secure, interactive digital assets that are backed by blockchain and secured by encrypted barcodes. Mixing blockchain in with some of Ticketmaster’s other identity-based ticketing services could add visibility to the ticket distribution process. Ultimately, that may enable event owners to keep a stronger record of attendees while protecting against fraudulent tickets.
Ticketmaster said the acquisition will advance its identity-based products at the gate while creating a safer and more personalized experience for fans.