Live Nation’s ticketing giant Ticketmaster is investing in blockchain technology.
The ticketing software and services company has acquired live events blockchain platform UPGRADED, which makes tickets easy to transfer and impossible to duplicate.
Converting traditional tickets into secure interactive digital assets protected by blockchain UPGRADED protects fans against fraudulent tickets.
It uses encrypted barcodes to prevent fraud often associated with paper or pdf-based tickets, and can be implemented without requiring a venue to replace existing access control hardware.
As previously reported, an undercover investigation published by Canada’s CBC and the Toronto Star found that Ticketmaster allegedly used its invite-only proprietary platform TradeDesk to enable resellers to buy tickets in bulk and sell them on with a substantial mark-up.
Ticketmaster has rejected the claims, saying it “does not have, and has never had, any product or program that allows ticket scalpers, or anyone else, to buy tickets ahead of fans.”
UPGRADED adds to Ticketmaster’s suite of live event products, including venue access tool Presence®, pre-registration tool Verified Fan®, and Blink Identity, a facial recognition tool.