(Q) What is Evedo and what are you setting out to achieve?
(A) We are building a global platform that aims to bring innovative technologies that will help the industry to work more transparently and securely. We are building 2 platforms: a B2B platform, connecting all the participants in the organization of a single event (event organizers, promoters, artists, singers, conference speakers, any kind of performers, venues & clubs, brands) and a B2C ticket sales platform. With implementing Blockchain, we are going to achieve our goal and will use smart contracts to secure every relation in the platforms.
Nowadays 90% and more of the events are still “organized” via 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. We are going to help the whole industry to work better — this is the biggest goal.
(Q) Last year Evedo raised its funds via IEO, how will these funds be used?
(A) Back in April last year we executed 2 IEO campaigns. In Bitforex & p2pb2b. The total amount that we raised from both the IEOs + the Private Sale that we executed was 2340 ETH (approximately 350K USD back in the days). If we compare this with other crypto projects the amount is very small. We believe that 1 year ago that was the perfect seed investment amount that we needed for the current state of the project. If we think more about the startup funding (non-crypto) these are the usual rounds on a seed stage. The funding that we had is used for the growth of the project and for forming the team (the people operationally involved with the development of the project are 12). We have already used 70%+ of these funds and we are closing the next investment round (private equity round from private investors and VCs) We will give more details on this soon. The whole idea is to secure the next 2 years of development and growth of the platforms and the team.
We are publishing all the updates in our Telegram channel @evedoco also all our social media (Facebook, Twitter, Linkedin, Reddit, Instagram) and here.
(Q)Can you go into some detail on the progress of Evedo since that IEO?
(A) It is important to clarify that we started the project almost 2 years ago. During the IEO campaigns, we managed to launch our B2C DEMO version and we were able to show a working product even one year ago. The first year we were bootstrapping with the team and we reached the MVP level without any funding. Our motivation is to create a real product helping the industry and the funding is just helping us to achieve the goals faster and more efficiently. The team will be constantly expanding in terms of developing the platform and business development. Once we implement all features of the B2B, all of our advisors and celebrities will be contributing towards our growth. They are now doing it for onboarding of event organizers, venues and performers in our B2C platform and it works perfectly. The advisory board is well balanced to cover the entire spectrum of expertise that we will need in the future but we will remain open for admitting strategic partners in it as well.
Following the IEO, we onboarded three team members, developed alpha versions of both B2B and B2C platforms, continued growing the community around the project and we are currently gathering traction (30+ events that will start using our ticket sales platform until the end of Q2, we have 1000+ registered entertainers, venues, and event organizers in our B2B platform and this is just the beginning). We are continually developing the platform towards the integration of blockchain solutions.
It is really important to mention here that we are also building the infrastructure to develop the health of the EVED token, listing the token in new exchanges and planning to list in 10+ more exchanges for the next 1 year. Check our updated roadmap here: https://www.evedo.co/#roadmap.
(Q) We see that you will be carrying out a Blockchain transition to the Locktrip chain once they are ready, do you have an ETA when you expect the swap to take place?
(A) A very good question! We are partners with the Locktrip project since the very beginning. Nikola Alexandrov, the CEO of Locktrip, is our official adviser and I was involved with the project back in the days. The LT blockchain is innovative and well-performing (now on a test net stage) proof of stake blockchain. We see value in adopting it, as this will help our project to be more scalable and efficient. You can see more about our partnership here.
Also for the people that are familiar with the project (it is a booking platform for hotels, apartments and flights based on blockchain — already 500 000 + hotels in the platform) We have many levels of collaboration and we have a great business case to cross services in front of our clients, and we are working on some common services now. This is going to help a lot with both projects to develop faster and better.
(Q) The blockchain ticket industry is growing by the day, what makes Evedo stand out against other projects and companies competing in the space?
(A) The Event ticket industry is valuated to 500+ billion USD in 2020 (by official data). The unofficial is much more. There are big players like Eventim, Ticketmaster, Eventbrite and many more. There are also thousands of other ticketing companies worldwide. The industry is really huge. Evedo has a fairly unique take on the event industry as it aims to connect all participants into one single marketplace. These participants are businesses like entertainers & performers, venues, event organizers, sponsors, technical support and equipment providers, staff, etc. Ticketing is just one part of the whole grand vision for Evedo. Where we differ from other events with the ticketing piece of the puzzle is that we have a lot of functionality for the organizers to track their events and understand the attendees better. Things such as tickets sold to a particular group, marketing tools to advertise the event and charts and stats how the event is doing overtime are just to name a few. We have already built a network of followers and brand ambassadors, affiliate marketers, a lot of top-notch advisers and early adopters. Our team has grown organically and we have the support of top experts not only in the event industry but on the blockchain and technical side, as well.
Our project is not brand new and we have built it slowly over the past 2 years. We are at a stage where we start growing faster and faster and with the disruptive tech that we are aiming to build — we can take a big share in the market in the next years.
(Q) You have a highly qualified and passionate team and a number of advisors and celebrities currently working on and with the project, do you have plans to expand or integrate into any of the above in the near future?
(A) People who are familiar with the startup world know that the most important part of the success of any project is the team! I am more than happy to work with high-end professionals and together with the team, we are extremely motivated to achieve our goals! If you take a look also at our advisory board we have advisers like Yoni Yunger, Sajid Amigo and many more that are not shown on the website. People that are very well connected in the event & entertainment industry and we owe some of the successful partnerships so far to them. We have 100+ key players in our pipeline to onboard that we are currently working on. We believe that the best way to grow rapidly is with synergies and key partnerships.
(Q) Evedo is listing on an array of new exchanges this year and securing some huge global partnerships, can you give us any hints to what’s coming and how do you feel it will affect the growth, adoption, and recognition of Evedo overall?
(A) Yes. We are announcing step by step the partnerships that we sign. As I mentioned above in the conversation our goal is to focus on growing the real products that will help businesses from the industry to work better. A lot of new partnerships with global event organizers, well-known performers and strategic synergies with other platforms are in the pipeline
Regarding the exchange listings — we are already in touch with 20+ exchanges that are valuable for our token to be listed in. It is a long process but our plan is to do listings organically with the right partners! We will have as many partnerships with real businesses as possible. We work hard on doing bigger and bigger moves.
(Q) If someone is to plan an event, there are many things to organize, what can Evedo do to make the process easier?
(A) Organizing even a small event needs a ton of coordination. What our platforms are going to help with is bringing all the communication on to just one place. The B2B platform will help event organizers to find the right trustful partners, to connect directly with entertainers, rental companies, sponsors, venues, etc. Imagine when all communication is centralized in one platform (now people are using spreadsheets, word files, notebooks — this leads to a lot of mistakes). In the end, we are also giving them a low or 0% commission ticket sales platform, helping them close the whole circle securely and easily!
(Q) Can you share your YouTube live video again here, please?
(A) Ok guys, every last Wednesday of the month we do a live youtube Q&A event. So you can follow us on our youtube channel and tune in for our AMA sessions.