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Ticketmaster buys blockchain technology company

Ticketmaster, a provider of ticketing software and services, has acquired UPGRADED, a blockchain technology company servicing the live events industry.

Financial terms of the deal were not disclosed. UPGRADED converts traditional tickets into secure interactive digital assets protected by blockchain.

"Ticketmaster is constantly exploring emerging technologies, and there aren't many that have the unique possibilities of blockchain," Justin Burleigh, chief product officer at Ticketmaster, North America, said in an Oct. 18 news release. "We're excited to have UPGRADED join the team as we continue to focus on providing ... identity-based ticketing platform to fans, artists, and our clients."

Ticketmaster is owned by Live Nation Entertainment Inc.