Welcome to the Evedo ($EVED) Q&A hosted by The Gem Hunters
We would like to thank the Evedo team for coming to The Gem Hunters and kindly sharing information on the project with our community. Before commencing our pre-set questions which will be followed by public engagement we would like to share some basic information on the project to give people a better idea before the Q&A begins.
Evedo is a blockchain based platform, consisting of B2B & B2C Marketplaces. It unifies all businesses and participants involved in organizing events. Their aim is to build a marketplace and a true ecosystem that will help the $850+ Billion event industry grow by connecting all parties without unnecessary middlemen.
Evedo is currently under the radar and boasts a tiny 150-200k market cap, which combined with its hard working, transparent team that has a huge roadmap ahead with 9 exchanges and 3 global partnerships this year alone, we feel like their will be some huge potential for the projects and its investors moving forward.
What is Evedo and what are you setting out to achieve?
Actually you answer part of this question with the intro of the project above. We are building a global platform that aims to bring the innovative technologies that will help the industry to work more transparent and secure. We are building 2 platforms: B2B platform that connects all the participants in the organization of single event (event organizers, promoters, artists, singers, conference speakers, any kind of performers, venues & clubs, brands) and we also have a ticket sales platform. With implementing the blockchain we are going to achieve our goal and will use the smart contracts to secure every relation in the platforms.
Here is our explainer video that you can take a look at: https://www.youtube.com/watch?v=gILu9OOnXJ0
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.
Last year Evedo raised its funds via IEO, how will these funds be used?
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 (Around 350K USD back in the days). If we compare this with other crypto projects the amount is very very small. We believe that 1 year ago this 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.
How we have use the funds so far. The funding that we had is used for the growth of the project and for the focus of the team (now all the people operationally involved with the development of the project are 12). We already used 70%+ of these funds and we are closing next investment round (private equity round from private investors and VCs) that soon we are going to give more details for. The logic is to secure the next 2 years of development and growth of the platfoms and the team.
Here are some resources that we posted after our IEO campaigns with results:
We are publishing all the updates in our Telegram channel @evedoco also all our Social media (Facebook, Twitter, Linkedin, Reddit, Instagram) and our Medium Blog.
Can you go into some detail on the progress of Evedo since that IEO?
Here is important to clarify that we start the project almost 2 years ago. During the IEO campaigns we achieve to launch our B2C DEMO version and we was able to show a working product even 1 year ago. The first year we were bootstrapping with the team and we reach the MVP level without any funding. Our motivation is to create a real products helping the industry and the funding is just helping us out to achieve the goals faster and more efficient.
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 now do 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 the ticket sales platform until the end of Q2 , we have 1000 + registered entertainers, venues, event organizers in our B2B and this is just the beginning) and are continually developing the platform towards the integration of blockchain solutions.
It is really important also 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 (according to our updated Roadmap) - check it out in our website: https://www.evedo.co/#roadmap.
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 very good question! We are partners with 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 one very innovative and very well performing (now on a testnet stage) proof of stake blockchain. We see a lot of value to adopt it and will help to our project to be more scalable and efficient. You can see more about our partnership here:
You can study more about the LT blockchain 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 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 to both projects to develop faster and better.
The blockchain ticket industry is growing by the day, what makes Evedo stand out against other projects and companies competing in the space?
A very good question. The Event ticket industry is valuated to USD 500+ Bil for the year 2020 by official data. The unofficial is much more. There are big players like Eventim, Ticketmaster, Eventbrite and many more big players on the market. There are also thousands of other ticketing companies world in wide. 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.
The ticketing is just one part of the whole grand vision for evedo. Where we differ from other event 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 like 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 build 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 new and we have building it slowly over the past 2 years. We are on 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.
Feel free to check our ticket sales marketplace: https://www.evedo.co/tickets
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 to any of the above in the near future?
The people that are familiar with the startup world know that the most important part for 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 in 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.
The advisers and supporters of the project are helping us a lot with key contacts and gives us credibility.
Check out our amazing team and advisory board here: https://www.evedo.co/#evedoteam
Evedo is listing on an array of new exchanges this year and securing some huge global partnerships, can you give us any hints to whats coming and how do you feel it will effect the growth, adoption and recognition of Evedo overall?
Yes. We are announcing step by step the partnerships that we sign. As I mention above in the conversation our goal is to focus on growing the real products that will help the 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 on the pipeline.
Regarding the exchange listings - we are already in touch with 20+ exchanges that is valuable our token to be listed in. It is a long process but our mindset is that we do listings organically with the right partners!
As much partnerships and real businesses that we can do synergies with we have as bigger adoption we will have. We work hard to growth hack and to do bigger and bigger moves.
I recommend to any interested person in our project to join also our community and to keep in touch there.
If someone was to plan an event, there are many things to organise, what can Evedo do to make the the process easier?
Nowadays organizing even a small event need a ton of coordination. What our platforms are going to help with is to bring all the communication on one place. The B2B platform will help the event organizer to find the right trustful partners, to connect directly with entertainers, rental companies, sponsors, venues ... imagine when this all communication is centralized in one platform (now people are using spredsheets, word files, notebooks and communication on so much different places - this leads to a lot of mistakes).
At the end we are also giving them low or 0% commission ticket sales platform that will help them out to close the whole circle securely and easy!
Optelic - Thank you to Stoyan for his very in depth answers, we see that this project has really got a bright future.
Bitshaman - Thanks for all your time and effort writing them questions out @StoyanAngelov we can see how long and hard you worked answering them.
Stoyan - A bunch of great questions! I will answer all the question LIVE in our youtube channel. We are starting our monthly EVEDO TALKS there and i will make sure that will answer all these great questions there!
Carry on watching the questions from
the community in the YouTube stream below hosted by Stoyan.
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