Aventus (XGM) ICO – Complete
Event Ticketing Solution built on the Ethereum Protocol
“Due to the sheer number of ticketing applications available to consumers there is enormous confusion as to whether a purchaser is purchasing a ticket on the primary or secondary market. Utilizing the Aventus protocol eliminates that confusion by making it abundantly clear whether users are purchasing a ticket on the primary market, or bidding for a ticket on the secondary market.” – Aventus
Aventus ICO information:
Token Supply: 10,000,000 (6,000,000 available in the ICO: 3,000,000 pre-sale, 3,000,000 public sale)
ICO Start Date: September 6 12:00UTC
ICO End Date: September 13 12:00UTC
[icon name=”globe” class=”” unprefixed_class=””] https://aventus.io/
[icon name=”file-text-o” class=”” unprefixed_class=””] whitepaper (pdf)
Aventus ICO is complete. Hard Cap raised.
Interview with Aventus
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
Aventus: Within the event ticketing industry there are several major problems.
- Counterfeit Tickets
- Unregulated Secondary Markets
- Lack of Oversight
- Inequitable Distribution of Revenue
- Consumer Confusion
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
- Counterfeit Tickets: By virtue of the Aventus protocol and the functionality enabled by the blockchain, counterfeit tickets are eliminated.
- Unregulated Secondary Markets: The Aventus protocol enables complete control over the entire life-cycle of the ticket, including when said ticket enters the secondary market (impossible in the current paradigm) in doing so, the original event organizer is able to place price minima and maxima which are enforceable (again impossible under the current paradigm)
- Lack of Oversight: There is currently no mechanism in place for event organizers to oversee any aspect of the secondary market. Utilizing the Aventus protocol provides the event organizer complete control over the entire life cycle of the ticket enabling a degree of oversight, which is not possible under the existing ticketing industry paradigm.
- Inequitable Distribution of Revenue: Under the current ticketing industry paradigm, the only entities, which derive revenue from secondary market sales, are the individual selling the ticket and the platform through which the ticket is sold. Under the Aventus protocol, event organizers would determine whether resale is permitted and if so, what percentage of the resale shall be retained by said event organizer enabling the organizer to derive a percentage of each ticket sold on the secondary market.
- Consumer Confusion: Due to the sheer number of ticketing applications available to consumers there is enormous confusion as to whether a purchaser is purchasing a ticket on the primary or secondary market. A recent study conducted by Professor Michael Waterson of University of Warwick on behalf of the UK Parliament determined that 1 in 4 (25%) of ticket buyers were unaware of whether they were purchasing a ticket on the primary or secondary markets. Utilizing the Aventus protocol eliminates that confusion by making it abundantly clear whether users are purchasing a ticket on the primary market, or bidding for a ticket on the secondary market.
BC: How do you think that competition will develop following your ICO?
Aventus: We anticipate that the majority of the major players in the space will begin adopting more transparent procedures in order to remain competitive. Currently there is no economic incentive for ticketing distributors (both primary and secondary) to alter their behavior. However when an alternative method of purchasing tickets is presented we anticipate the fear of being out-competed will lead to ticketing distributors altering their behavior and procedures to provide better services to both the fans and the event organizers.
BC: For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?
Aventus: For those who are still on the fence after reading the white paper I would encourage them to read our blogs on blog.aventus.io where we release content weekly detailing the addition of team members, advisors, and clients. We boast a board of advisors comprised of executives from the fields of economics, investments, live entertainment, ticketing, and more. We have several corporate partnerships spanning the United States and the United Kingdom as well as a presence in Israeli markets. We are also in the process of releasing additional information regarding new clients and so I would encourage potential ICO participants to monitor our social media platforms closely in order to stay up-to-date with information as it is made available to the community.