Ticketing firms are now beginning to see blockchain technology as a means to protect customers from fraudsters and touts. Sport and music fans are often left disappointed as official tickets are all sold out, but resold tickets go for as much as 10 times the face value. In a bid to stop this from happening, ticketing firms are using blockchain technology to prevent tickets to events from being sold on at higher prices and from being forged. Looking to be one of the first to implement this technology, Ticketmaster – the largest ticketing firm in the world – has acquired Upgraded.
Giving Power to Event Organizers
Upgraded is a unique platform in the sense that it digitizes tickets and gives event organizers complete control over the tickets it issues. Event organizers now have the ability to control all aspects of the ticketing process, from resale of tickets to the removal of fraudulent tickets. This new acquisition will help Ticketmaster evolve through the use of new technology that is being utilized around the globe.
UEFA Turning to Blockchain
It isn’t just Ticketmaster that’s looking to use blockchain to keep fans happy. UEFA is using its own blockchain ticketing system for football matches to prevent similar issues. In football, ticket touts resell tickets for huge sums of money, especially for important matches. In addition to this, fake tickets are also sold and fans end up having to watch the game outside the gates after traveling hundreds of miles to support their team. Fans can now buy their tickets through the official app, but they will have to bring their phone to the game to verify the ticket upon entry to the ground – a small price to pay to ensure total ticket authenticity.
Tickets Sold with Bitcoin
Cryptocurrencies shouldn’t be forgotten when it comes to buying tickets to your favorite events. This is because, if you pay with cryptocurrencies, you can often unlock a new tier of exclusivity. Beyoncé and Jay Z are selling ultra-VIP tickets to their On The Run II tour if you pay using Bitcoin. Cryptocurrencies are quickly becoming the gold standard for high class and luxurious events, meaning the only way in is with Bitcoin.
This new move from Ticketmaster will help to keep its customers and clients happy throughout the ticketing process through right up to event day. By removing all the dangers and negative aspects of the ticket buying experience, Ticketmaster cam easily fend off all competition in the space and remain the top dog of the ticketing world.