Ticketmaster acquires blockchain startup

posted about 2 months ago
Ticketmaster, the world’s largest online ticketing marketplace, has acquired Upgraded, a blockchain-based live events firm. Upgraded turns traditional tickets into digital assets that are entered on the blockchain, protecting fans against fraud and giving creators more control and visibility over distribution. By managing the ticketing supply chain, Ticketmaster can also stop on ticket resellers who buy in bulk and then jack up prices.

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.” Last year, Ticketmaster sold nearly 500 million tickets, earning $2.1 billion in revenue.
Tags: blockchain, news