Ticketmaster announced the acquisition of a smart ticket creator on the UPGRADED Blockchain platform. Smart tickets can allow event owners and ticket sellers more control over ticket distribution and more options to prevent counterfeiting.
UPGRADED uses Blockchain-based smart tickets instead of regular tickets and adds new features, helping to fight ticket fraud. Tickets are converted to secure digital assets using Blockchain to encrypt barcodes. If the barcodes are encrypted, event owners can better prevent ticket fraud.
Smart tickets also allow getting data to event managers and ticket sellers. They can find out who the ticket seller is, if it was sold, and who the consumer who attends the event is. Ticket vendors may also limit a buyer’s ability to resell tickets or require a portion of the resale value.
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