BlockTalks x EVEDO AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Evedo, on 4th June 1PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Stoyan Angelov, Founder & CEO of Evedo. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Question Asked By BlockTalks
Q1. Could you please introduce Evedo to our community in layman’s term?
Ans — Evedo aiming to bring the transparency and innovative technologies into the events and entertainment industry! We aim to implement the blockchain technology in our b2b event marketplace and our b2c ticket sales platforms. Main players in the B2C Marketplace would be Organizers, Promoters and Attendees. The main functions will be to Buy/Sell tickets and market events to new or existing audiences. In our B2B Marketplace we onboard event organizers, performers, venues, brands, rental companies etc.
Here also you can take a look at our Explainer video: https://www.youtube.com/watch?v=gILu9OOnXJ0&feature=emb_title
Q2. What are the advantages of Evedo compared to other alternatives in the market?
Ans — One of the unique advantages of @evedoco is that we are building one-stop-shop for the event industry. Imagine that you organize your event ( book a DJ, book a venues, find sponsor, book equipment etc. ) in our B2B marketplace and then with 3 clicks you are publishing your event and start selling the tickets for the event. On the top of this you have a blockchain layer that gives the security and transparency of all the transaction in the ecosystem.
There are a lot of more competitive advantages like additional promotion, performance marketing boosts of the events to find relevant people and many others.
Q3. What are the major milestones Evedo achieved so far & what are in future pipeline?
Ans — For the last 2years and 3 months ( until the start of the Evedo preject ) we achieve a lot. We have our token listed for more than 1 year now( you can check it on Coinmarketcaphttps://coinmarketcap.com/currencies/evedo/ ) We have our B2B Alpha marketplace LIVE ( more than 1000 registered businesses so far ) alpha.evedo.co/. We have our fully functional platform for ticket sales with more than 4000 tickets generated so far, 200 + event organizers, 200 + events created for the last 3 months — https://tickets.evedo.co/events/.
In our pipeline and roadmap we have a lot of more goals planned until the end of Q1 2021 and our goal is to become a technology ready until the end of Q1 2021 for a scale up and mass adoption
We also launched alpha MVP of our Webnar platform — everyone can use for video calls now: https://webinar.evedo.co/
Question Asked on Twitter For Evedo!
Q1. Does Evedo have insurance? Are Evedo is financially capable to do that just in case of emergency? Like, If there’s an unnecessary incident that you need to refund the investors.
Ans — Interesting question. Here I want to explain more about our funding and how we are achieving our goals. In the first 7–8 months we were bootstrapping with the team and we winvest our own time an money in the project. Then we onboard a couple of small equity business angels and this gives us the wings to operate on a wider scale and develop our products. Then we execute ( 1 year ago ) IEO in Bitforex and P2pB2b where we accumulate seed funding round ( around 350 000 USD ) and we used the funds to reach the level where we are now.
Now we also have additional equity funding round where we raise funds to increase the speed of development and market penetrations. Yes we are capable to build and execute the project!
Q2. We are seeing a lot of raise & fall in the EVED token, but for a non crypto user it is scary! So how you are going to deal with it? Because non crypto user always wants to be in safer side with his/her funds.
Ans — This is a question that i can not give answer. The price of any crypto asset is determined by supply and demand. This is exactly how the EVED price is formed. We are building a utility token that will help the whole infrastructure as a project to function. It is not financial advise and we want the people to use our token in the future for transactions in the ecosystem. This will definitely lead to more demand. At the current moment as any other new token we can not guarantee stability and we want our token holders to believe long term in our project and capability to deliver unique products in the market.
Q3. If someone is to plan an event, there are many things to organize, what can Evedo do to make the process easier, faster and more enjoyable for the Customers?
Ans — Event planning is difficult because there are too many elements that need to be managed and supervise during the planning and execution phases (venues, performers, suppliers, hiring staff, marketing, and so on.
In our B2B system Evedo will provide fast-track access to all stakeholders and provide tools to automate the process of defining the terms on which the event organizer works with them, track performance and perform payments on delivery.
Q4. As we see Zoom as a video conferencing platform gone almost 5x in terms of valuation in amid covid situation, how much revenue growth Evedo experienced in this situation & how you are seeing the future?
Ans — A difficult question to answer since we don’t have a basis for comparison. We essentially started earning revenues via ticket sales
in January and then the event/tickets industry melted through our fingers. We are actually lucky to be a lean and passionate team.
During this crisis because we are able to be flexible and pivot towards the path of least resistance. We recognized very quickly that
the world and industry was about to make a move from in-person events to virtual events. We are seeing people researching their options and looking for the best value for their dollar which puts us at an advantage because of our platform and philosophy for business.
Our endgame is to provide end to end support from event organizer to ticket holder all in one PaaS, with 0% commission in escrow fees and 0% commission in ticket sales to events that are willing to go all in on using our smart contracts, leaving a higher margin of revenues for those in the spectrum that actually are delivering on the value of the event. However, for those who are not comfortable or convinced
yet to the value of that, we still provide the service that they are looking for, and at a rate that they are not seeing by other options.
Q5. I love going to music concerts, but the industry is riddled with middlemen who often charge large fees on tickets sales, resulting in fraud and significant losses, So why should I choose Evedo and how do you plan to fix this significant problem ?
Ans — Thank you for the great question. This is one of the first things we attempt to fix — the ticket touting and secondary market for tickets ripping off fans. If you’d like you can check out our initial Video Promo:
https://www.youtube.com/watch?v=gILu9OOnXJ0
The blockchain technology in it’s essence removes unnecessary middlemen and provides a safe and secure route to deal directly between the organizer and the fans. It’s done so by using smart contracts: pre-build pieces of code that has some conditions built into them.
So by introducing blockchain into it’s ticketing component every single ticket sale will be verified on the blockchain(price, date, person, etc). And since this ticket has a unique identifier it can be used only by the one who purchased it or via transferring the ticket to someone else. But ONLY ON THE EXACT SAME PRICE IT WAS FIRST PURCHASED. This eliminates the ticket scouters that sell either very high-priced tickets or fake ones.
Question Asked by our BlockTalks Community Members during live Session for Evedo team.
Q1. As major corporate and social events continued to be cancelled around the world, many wonder is this all just an overreaction, or a sign of worse things to come & How Do Event Planners Protect Their Industry?
Ans — This is a very good question. We think that th whole industry now is restructuring because of the huge stress around COVID19. Event organizers around the world experienced huge problems and a big % will bankrupt. This will affect to a short term shock but also to a long term innovation and change of the paradigm. Attending online event is already something normal and all the events that will survive will be organized on a new rules and platforms like ours that are innovative and protect all the parties involved will be preferred in the near future. This put us in a very interesting situation and the potential is huge!
Q2. Safety and security are always the most important things. So what is the security mechanism of Evedo to ensure user data do not become the target of hackers ?
Ans — Unfortunately there is no 100% protection from hacker attacks. You know that even the biggest and most secure systems sometimes being hacked. What we will do is to secure everything with last standards of security layers like 2FA and other well know practices. Also using the smart contracts and the blockchain we will secure the payments with the encryption of highest level. Fingers crossed that we will resist to the future hacker attacks and we will do our best to provide high-end security solutions.
Q3. Nigeria as a developing nation would need your technology most, Do you have any plan of extending your solutions to Nigeria & Africa either through incubator / ambassador program ?
Ans — Even now we have people that organized events in Nigeria. The developing countries are huge market that we will be focused for sure. https://tickets.evedo.co/events/conferences/blockchain-decentralized-finance-conference-exhibition-lagos-2020/19/
Q4. What digital currencies do you plan to integrate for buying and selling Evedo tickets?
Ans — For the moment we have FIAT payments. In the next updates we are going to implement BTC, ETH, LTC, BCH. In Q3 we will start with the first tests with EVED token payments. Have in mind that it will be up to the organizer to choose which way he want to be payed. There will be also a hybrid option and the organizer can say for example — 90 % fiat, 5 % EVED, 5 % BTC ( of the whole amount of tickets )
Q5. How do you compete with major players such as Eventim, Ticketmaster and what makes Evedo stand out against other projects & companies competing in the space?
Ans — The competition is huge. The real competitors are platforms like Eventbrite, Ticketmaster and so on. There are also some blockchain competitors that we have like bloxktix etc. We are different because we are providing full solution for the industry. We also have unique approach to onboard the new organizers and we are giving them more and innovative tools to execute and sell their events and also we plan to create a huge network that will help the organizers to sell their events faster and cheaper. Comparing the commissions also is a big advantage for us — we are giving one of the best prices in the market and implementing the EVED will provide 0% commission which is unique for the industry.
Here are some important links of Evedo👇
