TicketMaster has acquired blockchain-based company Upgraded Inc, a software firm that allows users of its app to authenticate tickets using Ethereum.
The app converts tickets into interactive digital assets in order to create greater security and control for event creators and protecting audiences from fraud.
Justin Burleigh, chief product officer at Ticketmaster North America, said: “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.”
Aventus and Blocside recently teamed up on a new project that used blockchain to prevent fraud and counterfeiting of tickets during the FIFA World Cup in Russia.
“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,” added Sandy Khaund, founder and CEO of Upgraded. “Upgraded leverages blockchain to maximise 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.”