Forbes - - VERTICALS -

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.

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