THAT’S THE TICKET
dishonest brokers can sell multiple printouts for the same seat at an event. that’s why sandy khaund started Upgraded inc.
How common is ticket fraud?
it happens a lot. last year at game seven of the NBA Western conference championship, dozens of people reportedly got rejected at the gate with tickets they’d bought from stubhub.
And you solve this how?
ticket sellers don’t have a singular digital asset. One way the tech world has overcome this is with Bitcoin, which works like a huge ledger. if i give you a Bitcoin and then try to give a duplicate to someone else, the ledger says i can’t. i thought, we need that for tickets.
Why would a sports team pay for this?
teams want to prevent fraud. more important, they want to know who’s going to their games. since the ticket is interactive, it’s a way to do targeted marketing.
Are you trying to compete with Ticketmaster?
No. When you go to ticketmaster, you get a drop-down that says PDF, Postal service or will-call. in the short term, i want to be the fourth option. in the long term, i want to be the only option.