Blockchain in the Event Ticketing Industry – Head to Head with Eventchain and Aventus

Aug 29, 2017 BlockchainICO 4

We are now at an age of technology, where you can purchase almost anything with a touch of a button. The industry of selling tickets for large events, whether it is for sports, concerts or festivals, has become highly convenient for consumers. Platforms such as Stub-hub and Viagogo act as an online ticket exchange to provide a secondary market for event tickets for buyers and sellers. However, second-hand selling of event tickets has involved two forms of unethical activities within the secondary market.

  1. Inflated prices on tickets, which can be anywhere between 50-1000% of above face-value
    1. Secondary ticket exchange’s fees are calculated as a percentage of the ticket price sold and thus not preventing extortionate ticket prices in order to maximize revenue
  2. Tickets are listed on multiple secondary ticket exchanges, essentially selling counterfeit tickets (same ticket is sold to multiple buyers)

The problem that creates the unethical activities is that the event organizers will under-price tickets to maximize fan attendance. Automated bots will then go ahead and purchase large batches of the tickets from the primary markets, essentially selling out the tickets for popular events. Official sellers, such as MasterCard, maximize their revenue by maximizing the number of tickets sold. Therefore, the official seller platforms (primary markets) are positively incentivized to not prevent the use of bots to bulk-purchase tickets.

Thanks to the birth of Blockchain, Eventchain and Aventus, hope to disrupt the online ticket exchange industry for the secondary markets. Let’s take a look at both projects aiming to bridge the gap between consumers and the event tickets being purchased.

Team & Board

Eventchain

The Leadership Team consists of top business professionals, entrepreneurs, and innovators in the fields of cryptocurrency. Additionally, the Team has 7 years of SaaS (software as a service) experience and has in part been ported from a software development company with global clients called Click4Time. The Board of Advisors consists of people with extensive track records as innovators and specialists in finance, marketing, software and blockchain/cryptocurrency industries. There are 3 Advisors out of 12 for Eventchain which are worth highlighting:

  1. Steven Funk – Silicon Valley Billionaire
  2. Piotr Piasecki – Core Developer, Factom – Stores the world’s data on a decentralized system. Using blockchain technology for smart contracts, digital assets and database integrity.
  3. Dror Medalion – CEO at BitJob.io – Decentralized Student Marketplace for Online Jobs.

You may learn more about the team here: https://eventchain.io/#team

Aventus

The Team consists of Masters of Science & Engineering graduates along with candidates with experience in ecommerce and ticketing software. The Advisors consists of Professors in Economics & Cryptocurrency and Venture Capitalists.

Learn more about the team: https://aventus.io/

Conclusion: In my opinion, both teams are strong with a few distinctions from one another. Eventchain is stronger technically in terms of having Cryptocurrency and Blockchain experience. Whereas Aventus comes from a strong educational background and ticketing industry knowledge and experience.

Product – Alpha

Eventchain – http://alpha.eventchain.io

Simple and easy for a non-technical user to already test the platform without having to download various items and go through multiple steps. The Alpha displays the basic capability to select an event, identify the number of tickets being purchased and pay in the EVT token, which can be purchased with Ethereum.

Aventus – https://alpha.aventus.io

Entry barrier is high due to creation GitHub account and download of the chrome extension – MetaMask. With the use of the GitHub account, the user must create a Gist, which is a traditional concept of a place to store code snippets. The alpha is slightly more technical and complicated for a non-tech savvy individual to get started.

Conclusion: In my opinion, user adoption is the most important to increase the usage of an application. Currently, Eventchain displays an easier user adoption versus Aventus. This means Aventus should be looking to streamline most of their steps to increase usability.

 

Here are a few points to highlight a Head to Head comparison between Eventchain and Aventus:


Overall both seem to be a good project with Eventchain’s team background stemming from Cryptocurrency and Blockchain technology whereas Aventus’ from strong education and ticketing industry experience. They both have different objectives in terms of targeted regions. Eventchain plans to raise 3.5x more funding which in my opinion is due to the potential of scalability in North America. Europe will have cross border regulations where progression will be slow and additionally the event attendance numbers are much larger in North America due to professional sports leagues such as the NFL, NBA & NHL. The future is bright for Blockchain and we are excited to see what is yet to come.

Read more about the Eventchain ICO on our ICO calendar: https://cryptocanucks.com/ico/eventchain/

Read more about the Aventus ICO on our ICO calendar: https://cryptocanucks.com/ico/aventus/

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Asbed K.

Asbed is a business process and strategy enthusiast with a background in finance and management. He is passionate about technology and helps companies transform through delivering innovative IT solutions. In his spare time he volunteers in a non-profit sports organization, plays soccer passionately, researches and invests in equities and cryptocurrencies.

Join the Conversation. Leave A Comment Below.

  • People should have the right to sell the tickets they paid for at a price that they decide. No thanks to this APP.

  • Mr Hash

    thanks, nice summary write up. nice to see some real tech.

  • Ashton Addison

    great unbiased comparison between our project and theirs. Together we can solve the issues of the ticketing industry which desperately need fixing! Blockchain is bringing us all together. Chat with EventChain team live on Slack: https://join.slack.com/t/eventchain/shared_invite/MjI5MTYyMzg2OTMyLTE1MDMyNDEwMzEtZWJmNjFlZmQxYQ

  • I was hoping for some more details on the alpha – clicking through a few screens is not really enough to get an impression, one needs to get something done with a smart contract to actually witness it in action. Now off to create a test event on eventchain 🙂