We were invited by Crypto Bull and Bear to do an AMA session this Sunday in their Telegram community. You can follow them here https://t.me/Crypto_BullAndBear
A lot of people joined, we got tones of questions. It was really hard to pick which one to answer but we did manage to answer some. If your question didn’t get answered please follow us on social media and stay tuned. We absolutely love and appreciate being able to communicate with all of you!
For those of you who couldn’t join or simply missed the AMA session, here are some questions and answers:
Q1: Please explain, What is Evedo in brief? What motivated you to start this project?
Actually, I partially answered these questions with my intro. My main motivation to start the project was to bring innovation in the Events & Entertainment industry. Nowadays 90% and more of the events are still “organized” vai telephone calls and Excel spreadsheets and there is a lack of trust and transparency in the whole segment. Buying a ticket, booking a DJ, renting a venue or equipment very often is a nightmare. Understanding the value of blockchain technology and having been in both industries for many years I came out with the idea that something needs to be done. That is why we founded Evedo and for almost 2 years now we have been preparing the technology and the community for the disruption of the industry that is about to happen.
Q2: What is the aim & vision of Evedo?
Our vision is to become the world-leading one-stop-shop for this huge industry. Our mission is to synergize all participants in organizing & conducting events, allowing them to improve their work, have the highest level of security & eliminate unnecessary middlemen. And we have already started. Our alpha B2B marketplace is already LIVE: https://alpha.evedo.co/ Also, on Monday we launched our ticket sales B2B platform https://tickets.evedo.co/events/conferences/sheleader-conference/14/ (one of the first events that we started selling tickets for) No matter if you are an event organizer, promoter, venue or club owner, you owe rental company or you are a brand looking to position your brand — you will have value to use the platform and to find the professionals in the industry globally. Also will have a low commission or 0 % commission ticket sales platform.
Q3: Please share with us the milestones that Evedo has achieved so far.
Since the beginning of the project, we have achieved some great milestones. We executed IEO last April and that is how we launched the EVED token and we attended the seed funding to develop the next steps of the project. A very important milestone was achieved this Monday — we launched our fully functional b2c ticket sales marketplace: https://tickets.evedo.co/events/conferences/sheleader-conference/14/ (check out one of the first events that we sell tickets for in the link above) We also launched our B2B marketplace a few months ago and we already have 1000 + professionals registered on the platform. We have a bunch of great industry partnerships — platforms such as www.drooble.com, www.locktrip.com, I love Minimal Techno over 10 other partnerships that we are going to work with and push the markets in the next months/years.
Also, an important part of the project milestones is the exchanges that we got listed in. We already have a couple of exchanges: Bitforex, p2pb2b, HaloDEX, Coinsbit and the token is LIVE there.
Q4: Why have you thought of moving the Event Industry Businesses on Blockchain and with Evedo being the platform that “connects” the event industry, why does Evedo need a token?
One of the main factors that have inspired us to tokenize the event industry is the opportunity to introduce transparency, security, and automation into this dynamic commercial field. Both processes (event organizing and ticket sales) involve numerous transactions and long ‘lockup periods’. With consideration to the large scale of the industry and the important problems which are solved through the Evedo Project, we have created ideal conditions for the wide adoption of the EVED Token and accordingly steady increase in their demand due to the limited supply. The following factors and functionalities will affect the intrinsic value of the EVED Tokens:
● Purchasing Tickets Functionality (every ticket sale paid by EVED will be a smart contract that secures both parties)
● Advertising (boosting inner performance marketing campaigns in the platform)
● Subscription Fees (premium functionalities of the platform)
● B2B Payments (Dj & artist bookings, venue rentals, event suppliers payments, etc.)
Q5: Why does EVEDO need its own Blockchain instead of using other blockchains like NEO, ETH, BNB, etc? What is the technology EVEDO is using?
It’s really important to clarify that we are not using our own blockchain. For the moment we are Ethereum ERC20 token. We do not plan to create our own blockchain. We prefer to focus on the business development of the project and to be faster in onboarding the industry! We plan to migrate to the LT blockchain (@LockTrip) once their main net goes LIVE and functional. More than a year ago we announced our partnership and this is one of the most valuable partnerships for us so far. Check it out here: https://medium.com/evedo/evedo-teams-up-with-locktrip-8ccccff35892
Q6: On which chain is the EVED token running & what is the Role of the EVED token in the Evedo ecosystem and what are the sources of your income?
As I just mentioned in my previous answer, we are running on ETH now and we are going to Migrate to LT blockchain (https://medium.com/locktrip/the-locktrip-blockchain-manifest-16d13f75ad89). A little more about our business model. Yes — to even think about disruption in any industry the project needs to be sustainable! Building our B2B & B2C platforms, we aim to have certain business models. Beeing monetized from advertising in social media platforms builds up even more value for the premium users, taking a small cut (2 % from every transaction in our B2B marketplace) is the model that we are going to validate in the next few months.
Q7: Can you give us 3 crucial features about your EVED token to convince us and other big investors to invest in EVED in the long-term?
Awesome questions and there are more than 3 for sure. I can separate the answer in two directions. Non-Blockchain:
1. We are the first of a kind One-Stop-Shop for events & entertainment industry.
2. We have a killer ticket sales platform that will provide 0% commission if you sell the tickets through EVED and an overall very low commission — up to 5% (one of the best fees on the market at all)
3. A trustworthy B2B platform that brings DJs, Artists, Performers, Venues, Brands, Event Suppliers all together. Connecting authentic businesses you can be sure that you spoke with a trusted and real company that will do the job you need to be done!
1. A very good point is the low supply. Check it out in CMC (https://coinmarketcap.com/currencies/evedo/)
2. The always-expanding exchanges that list EVED token (BitForex, p2pB2B, Halodex, Coinsbit and more to come)
3. Our Tokenomics employ very smart strategies to help the token’s health long-term. One such thing is: when an event is organized, but the date is due in a month, two or even more of the tokens that are used as payments for that whole event (and they can be pretty huge like festivals) are locked out of circulation.
Q8: ETH blockchain is very slow, so why do you build EVED on ETH blockchain? What’s is the main reason to build it on Ethereum blockchain instead of building it on BNB Blockchain and Stellar Blockchain? Do you guys have any plan to launch your own main net in 2020?
I think that I already made this clear. We will migrate to LT blockchain. Building our own blockchain is not a priority for us. There are such brilliant blockchains out there now and we are choosing one of the best so far. We are aiming in 1 year to have great traction of ticket sales and to have the B2B platform on a global scale and in 20+ markets!
Q9: How does it work? What problems does it solve?
1. Higher prices of tickets due to secondary black markets;
2. Time loss and poor planning, due to scattered event planning process across different platforms, mediums, software, etc.;
3. Ticket fraud that can be duplicating & selling the same ticket multiple times;
4. Delayed payments to performers or non-fulfillment of obligations on behalf of the latter;
5. Lack of one niche software to bring the whole organizing process inside;
6. Lack of transparency & protection for all parties involved;
7. Difficulties finding new venues, gigs, partners and sponsors/sponsorships;
8. Difficulties in finding, organizing, and tracking technical equipment which is rented for the event;
Q10: Working as a booking agent is somewhat a harsh career path with many obstacles and problems. Many of these problems emanated due to a lack of trust. The vast majority of the booking agents already had the notion that promoters will pay them less than the agreed amount while promoters on their own part thought of something similar to that of the agents. Gixtra and FYRE festival which are popular booking agents tried solving this issue but eventually failed. How does Evedo address this issue and restore trust into the booking industry with IT technology?
As most of the people in this group know the blockchain technology is the most transparent so far, everything is public and transparent. Every event organizer, promoter, artist & performer, venue owner, etc. will be able to check what is the real progress of the current payments, negotiations and any other important detail will be marked as a blockchain entry records. Also using the smart contract and escrow functionalities of the token all parties will be protected. Once the job is done — the payment is triggered.
Q11: What is the biggest entry barrier in the events management sector?
One big pain-point for the event management right now is finding and booking the right venues, artists/performers, staff, equipment, sponsors and a lot of other things are being done all over the place now. Some third-party services cover some part of that, but the organizers still rely heavily on Google, social networks, and lots of spreadsheets, etc.
Q12: How is Evedo different from other similar projects in the crypto space? How does the EVED token utility and model create value for investors?
Most of the other projects in the crypto space are mostly focused on either ticketing or booking of performers. To generate the most value for everyone involved, we are developing the one-stop-shop platform where everyone involved in the event industry can interact effectively and safely. As the tickets will be paid in EVED every purchase of a ticket will trigger buy orders on the market. The funds are then locked until the event is done. We are planning to introduce an interactive way of involving the audience by incentivizing them to promote the events by receiving tokens which they will be able to purchase tickets with again. So we are creating mostly a closed system generating value for everyone involved whose purpose is ultimately to generate more buy orders than sell orders on the market.
Q13: There are too many black marketers in the market. Maybe this can become a big problem for your business. Do you have a solution plan for black marketers who want to buy event tickets in advance and sell them on other platforms at high prices? What procedures do you follow for the sale of event tickets? What are the procedures you follow for black traders (brokers)? Can these people harm your business?
Digital tickets can only be transferred directly to a consumer, and event organizers can choose to limit the number of tickets an individual can purchase. While we don’t make it our business to make these decisions, we will do our best to give the event organizers the tools that they need to accomplish their workflow, with as little overhead to them as possible (compared to today). Today, we do not employ tokenized tickets, however, post-beta, our clients and customers can expect plenty of features to circumvent some of the most frustrating issues for the customer — fake and overpriced tickets!
Q14: To survive in tough crypto market conditions is difficult, and we see that many projects are far from the targets. What is Evedo’s recipe for surviving in this long blockchain marathon? In this recipe, what motivates longterm EVED investors and believers?
Great question!! What we all saw in the last few years is there was a BOOM of investments in 1000+ projects! A very small number of teams are still kickin’ and proceeding to develop their projects. Maybe it is normal for most of the startups to fail but our recipe for no failure is the 24/7 non-stop work of the whole team and our community. Doing the right thing at the right time is crucial and we think that we are at the right time at the right moment — now. Bootstrapping with the team first one year and building the concept and the MVPs, after that small seed funding generated by a small token sale (IEO) kept us disciplined and focused on optimizing all our resources to bring the best product and results.
Q15: If I want to hold an event there are many things I should take care of, at which point Evedo can come in and save the day?
If you are organizing an event, you can find everything that you need on Evedo — so you can go and quickly find the best prices, conditions, and availability for booking a venue, performers, facilities, and technology hires. In the process of organizing the event, you will be able to track the performance of everyone and see who delivers on time and who doesn’t. As a person being involved in the events industry for the whole of my life, I thought from the very beginning that our goal is to bring a global innovation and disruption. We are still far from this but I believe we are on the right track!
Q16: How will a deal with EVEDO B2C help a company in the B2B space or one which does not have a brand?
The event industry is riddled with middlemen who skim more and more of the top off people’s profit, the people who are responsible for the event: entertainers, promoters, and organizers. Our mission is to provide the end-to-end tools needed to run an event; from a single individual to large organizations and agencies. That includes tickets and communities, and hence — the need for the B2C platform. We also believe that a point of entry into the B2B is our B2C. We believe that many event organizers today will consider the B2C for its competitive rates, lower risk of fake/overpriced tickets for their event-goers. Consumer-focused businesses will want the best quality services that they can provide to their customers. Digital tickets and 0% commission on ticket sales is about as good as it gets, and it’s only available to our B2B customers.
Q17: What role do you think EVEDO will play in making blockchain highly adaptable in the worldwide stage?
EVEDO aims to disrupt a pretty big $850+ Billion industry. And if we saw something in the last decade it is how much that event industry is booming — festivals, conferences, concerts, small & big performances, and social gatherings. And it’s only the beginning. We believe in the need of that industry for the whole world and blockchain can only make the process and the essence better. It’s a huge project, which can potentially affect anybody that has ever attended, organized or just worked on an event of any kind. So the more people we reach and make it easier for them to use blockchain even without them knowing they are using it — the better for the whole Blockchain stage worldwide.
That’s all for now. Thank you very much, Antonio, and thank you for the opportunity to present our project in front of an amazing crowd! We want to say to the community is that we will answer all other questions in a DM. Also, there will be a small bonus reward for everybody who asked us questions on Twitter and Telegram. Antonio and the Crypto Bull and Bear community will publish more information about the process so follow them and stay tuned!