UPGRADED

blockchain

STATUS: Acquired/Merged
FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 08/09/2020

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About

UPGRADED converts traditional event tickets into secure digital assets deployed onto an Ethereum Blockchain. By creating an open ledger similar to Bitcoin, buyers and sellers can operate with complete trust, transfer the tickets easily, and each ticket can act as a self-contained escrow system. Through UPGRADED's security system, ticket issuers have greater control over the ticket after initial sale (including who can own it and how much it can be sold for). Finally, these tickets work with existing entry systems and can be extended stored value capabilities, loyalty data, and other dynamic elements that turn a ticket into a "smart ticket".

MEDICI Analysis

UPGRADED event tickets into secure digital assets that not only protects tickets against fraud, but also increases the control, ownership policies, and flexibility of these ticket. It draws on the core attributes and technologies that has made Bitcoin a viable currency, but enables these added features by employing the distributed code structure made possible by the Ethereum Blockchain design.

Focus

PRODUCTS & SERVICES

Digitized fraud-resisitant tickets

REVENUE MODEL

Ticket digitization, escrow services, and big data analysis.

PRIMARY PROBLEM SOLVED

By creating an open ledger similar to Bitcoin, buyers and sellers can operate with complete trust, transfer the tickets easily, and each ticket can act as a self-contained escrow system.

People

FOUNDERS

John Haegele

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Stadia Ventures

KEY EMPLOYEES:

Sandy Khaund

Momentum

FUNDED

NO

TOTAL FUNDING

$400 K

DATE OF LAST FUNDING

Apr 2018

CONVERTIBLE DEBT

$400 K

LISTED

NO

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UPGRADED

About

UPGRADED converts traditional event tickets into secure digital assets deployed onto an Ethereum Blockchain. By creating an open ledger similar to Bitcoin, buyers and sellers can operate with complete trust, transfer the tickets easily, and each ticket can act as a self-contained escrow system. Through UPGRADED's security system, ticket issuers have greater control over the ticket after initial sale (including who can own it and how much it can be sold for). Finally, these tickets work with existing entry systems and can be extended stored value capabilities, loyalty data, and other dynamic elements that turn a ticket into a "smart ticket".

Focus

PRODUCTS & SERVICES

Digitized fraud-resisitant tickets

REVENUE MODEL

Ticket digitization, escrow services, and big data analysis.

TOP PROBLEM SOLVED

By creating an open ledger similar to Bitcoin, buyers and sellers can operate with complete trust, transfer the tickets easily, and each ticket can act as a self-contained escrow system.

PRODUCT DEVELOPMENT STAGE

MARKET TRIAL

PRODUCT DEVELOPMENT COMMENT

We've done a pilot with a MLB team and have our first customer deployment for a Division III bowl game in January 2017 (tickets already on sale).

KEY DIFFERENTIATORS

-operate with complete trust -transfer the tickets easily -each ticket can act as a self-contained escrow system. -ticket issuers have greater control over the ticket after initial sale (including who can own it and how much it can be sold for). -tickets work with existing entry systems and can be extended stored value capabilities, loyalty data, and other dynamic elements

PRIMARY CUSTOMER TYPE

Enterprise - Others

Small And Medium Business - Other

Consumer

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO