Aventus (AVT) fair, secure, and transparent ticketing industry.
Aventus is a fair, secure, and transparent blockchain-based event ticketing solution that practically eliminates fraud and unregulated touting. Organisers can create, manage and promote their events and tickets with dramatically reduced platform costs, and can set price controls and receive commissions on secondary market sales.
How it works
1.Create Your Event
Sign up and create your event for a fraction of the fees charged on other online ticketing hubs. Create and issue your tickets, which can be anything from drink vouchers to early bird entry.
2.Set Your Own Ticket Market Standards
Choose if you want your tickets to be resold and in what price range, and even set a fee that you earn from every resale! No one can scam the system, so no more counterfeits and unfair, unregulated ticket black markets ruining your brand name.
3.Promote your event
Leverage blockchain-based micro-payments to create complex reward schemes for ticket buyers in exchange for generating you more ticket sales, drastically decreasing your promotional spend.
4.Sell and Verify Tickets with minimal Fees
Sell tickets for a fraction of the cost on the blockchain. At the event, allow your staff to easily asecurely verify tickets at the door and the bar with just our app and a smartphone.
The Aventus ecosystem.
An Ethereum account management platform where users with minimal crypto-currency knowledge can have their accounts, funds, and transactions managed on their behalf.
A fiat to AVT conversion mechanism so that users can buy tickets easily, and so event organisers and app developers can cash out quickly if necessary to avoid currency risk. This will be done through a third party payment processor such as Uphold or MetalPay.
A ticket and ID validation service where attendees’ faces will be scanned and compared to photos uploaded at point of purchase using machine vision. This will reduce entry fraud at events and allow organisers to track the performance of bouncers.
Template user interfaces and integration tools that further lowers the barrier to entry to creating a customised ticketing interface for event organisers (e.g. a football club) or promoters (e.g. an influencer).
Others worth mentioning include in-event advertising tools and reputation calculations for promoters with respect to sales generated in previous, similar events.
More services will be added over time depending on demand. Although developers
using these services will incur an additional cost, such tools will make building ticketing
applications significantly easier especially with respect to onboarding mainstream users.
AventCoin (AVT) - The Aventus Token
The Aventus protocol token AventCoin is essential for aligning the economic incentives of
participants such that the problems in section 1 are solved, and for ensuring that minimal
fraud occurs in the system. Its main purposes are:
1. To provide an incentive layer to enable self-regulation of the Aventus
Protocol. This refers to stake-weighted voting mechanisms (further explained in
section 3.1) for the Aventus Community to determine:
a) Legitimate apps/DApps using the Aventus Protocol (section 3.1.1) so
that event organisers and ticket buyers are not taken advantage of.
b) Legitimate events on the Aventus Protocol (section 3.1.2) so that apps/Dapps
do not lose users by selling tickets for fraudulent tickets.
c) Aventus Protocol algorithm parameters that determine important fees in
the system such as the event-creation fee (section 3.1.3), so that the protocol
can constantly evolve to remain competitive.
2. To reward early adopters of the Aventus Protocol, thereby enabling it to benefit
from network effects. Network effects apply to the Aventus Protocol since as the
number of events using it grows, the greater value it has to third party applications.
There are four primary use cases for AVT:
Event hosting: event organisers must purchase AVT to pay the event-creation
price. This cost will be proportional to the number of events deemed fraudulent in
the protocol. It will not be affected by the volatility of AVT by accounting for the
fiat currency exchange rate. In the initial phase of using the Aventus Protocol, at the
end of a successful event, AVT from the early-user incentive pool will be distributed
amongst all participants in the event to reward early-event host-adopters, promoters
and secondary market facilitators.
Ticket sales: although tickets to an event on the Aventus Protocol must be purchased
in ETH, AVT or any other ERC-20 compliant crypto currency, the volatility
associated with crypto-currencies will be mitigated. Ticket prices will be denominated
in fiat currency and use a market-feed oracle to calculate AVT prices at the
time of purchase. Event organisers and promoters are free to cash out their cryptocurrency
from ticket sales or commissions, at their convenience, to avoid holding it
for unnecessary periods of time.
Community stake: events can be reported as being suspected of being fictitious
or fraudulent through a mechanism which involves putting up a deposit of AVT. If
the deposit is matched by the organiser of the (purported) event, a stake-weighted
vote would be initiated, in which any stake-holder can agree or not (elaborated upon
in section 3.1 below). Platforms building on the Aventus Protocol would have an
incentive not to sell fictitious or fraudulent tickets to their users, thus giving them
an incentive to hold AVT for voting and future event-creation. Applications making
sales on the protocol go through a similar process of being validated by the network
so that we can remove the current problems in the industry of fraudulent resellers.
Matching: Tickets sold on the Aventus Protocol in the secondary market must be
matched with buyers who have previously registered a firm intent in their purchase
at their listed prices. To list a ticket for resale a user will also have to be able to pay
the secondary market sale fee in AVT. Matching is on chain calculation that Aventus
Protocol users can run to pseudo-randomly match buyers and sellers and receive the
secondary market sale fees for doing so. This ensures that sellers do not know who
they are selling to to prevent off chain monetary transactions taking place for the
transfer of a ticket and then a transaction in the system merely being logged which
adheres to the restrictions.
Aventus (AVT) Case Study: Sports Daily and Spotify as Third Party Ticket Distributors
What if your favourite blogger didn’t just write features about your preferred sports teams but also had the ability to sell tickets for their upcoming events? If they could, then not only would you be able to get all of your daily information about your favourite teams, but you would also be able to buy tickets to see them play. You would not have to open a new tab, find TicketMaster, and look for tickets; they would be right there, in a widget, being sold on the blog!
At Aventus, one of our primary objectives is to enable this type of third party integration to happen as frictionlessly as possible for anyone from a social influencer, to a blog, to a streaming platform, to a general event listing site.
Why this matters
One of the biggest problems in ticketing is unsold inventory; in particular, sporting events suffer considerably from this phenomenon. The ex-CEO of TicketMaster, Sean Moriarty, estimated that 35% of ticketing inventory on TicketMaster goes unsold, and when you ask fans why they did not attend, their main reason is that they did not know about the event.
The primary reason for this is the siloed nature of the ticketing industry; a promoter is in charge of filling the full allocation, and finds sub-promoters, ticketing agents, and other entities to fill portions of this allocation. Hence, the reach of the event is limited by the audiences of the promoters, sub promoters, and ticketing agencies that the event organisers know to begin with.
Nowadays, if an entity like Spotify wishes to sell some of Adele’s ticketing inventory, an affiliate agreement must be crafted between Spotify and an entity owning the allocation in question, which specifies the rules of sale amongst other contractual requirements. It is a fairly long process, and most ticketing agents and promoters still use Excel spreadsheets to track allocations!
Enter Aventus and the blockchain.
With the Aventus protocol, we aim to de-silo the ticketing industry and bring the full ticketing inventory to the blockchain. The core idea: since we eliminate black markets and allow event organisers to control the entirety of the ticketing lifecycle, those contractual clauses in the affiliate programmes live as rules in smart contracts in the Aventus protocol that cannot be broken. Further, via the creation of a decentralised bidding process on portions of the ticketing inventory on the blockchain, we allow this ticket distribution process to occur with ease. No more 6 month negotiations; affiliates can bid, be approved, and start selling tickets in a matter of minutes.
Now, events will not be limited in reach by the promoters and sub-promoters they know; now, anyone who has a target audience that overlaps with the event can bid on inventory, sell tickets, and allow the event organiser to expand his possible reach! This results in less unsold inventory, a more diverse attending audience, and more prospective customers for the event organiser.
How would it work?
For the purpose of this post we’ve decided to use The Sports Daily as our sporting events use case and a platform that needs no introduction, Spotify, as our concert & music festival use case.
The Sports Daily is a blogging platform that writes about various sports features (hence the name, The Sports Daily). The night before Sports Daily publishes an article hyping the Connor McGregor/Floyd Mayweather fight for example, they can either use the Aventus services API or the Aventus inventory dashboard to bid on a portion of ticketing inventory for the fight. Once approved, they can place the white-label Aventus ticket sale widget next to the article, and allow their readers to frictionlessly buy tickets to the event.
Not only does this make life easier for consumers, but it also opens up an entirely new revenue stream to Sports Daily.
For Spotify for example, the integration could be even more interesting, and very much data-driven. Since an anonymous ticket purchase history is available on the blockchain, if consumers give Spotify (in exchange for some sort of reward) access to their purchase history, Spotify can now targetedly place ticket-buy buttons next to songs or artists that their consumers are listening to. This is beneficial for Spotify in terms of a new revenue stream, but also for their consumers as they will now get targeted ads that add value to their listening experience.