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.
A Message To the Aventus Community About Security Concerns
This is a message from Annika Monari and Alan Vey, the founders and directors of Aventus. We are writing to address the Aventus Presale Phishing Attempt, which harmed us and our community as a whole.
As many of you know, last night at around 22:20 BST a login to our Mailchimp account from IP: 22.214.171.124 in Bucharest, Romania occurred, and a fraudulent email was sent out about an illegitimate Aventus Presale, phishing for contributions to a hacker’s address. Disgracefully, the hacker was able to obtain about 39 ETH at the point of writing from around 15 of our community members (Note some of these transactions are likely the hackers themselves). The hackers had access to our mailing list, but the only sensitive information they got was our community’s email addresses. One of our employee’s accounts was not sufficiently protected and was compromised, which is how the hackers managed to access MailChimp. Given the strict internal security policy at Aventus, the individual had restricted access to everything, which is why the situation was limited to MailChimp and could be quickly rectified by us within 20 minutes.
By 22:40, we had handled the situation and locked out the hackers. By then we had been in touch with Mailchimp and changed all of our passwords and 2FA settings on all other Aventus accounts. We sent out a follow up email that stated that the previous email was a scam to our entire mailing list warning them not to contribute funds, and we answered every email and Slack question that came in and confirmed that the scam was indeed a scam. We had also deleted the compromised employee’s access to all Aventus accounts. We can confirm that all other sensitive information and Aventus accounts remained completely secure and untouched by the hack.
Our community members did an excellent job of mitigating the damage done from the attack; from 22:20, our community took the lead. We received numerous emails and warnings on Slack about the phishing attempt in our #link-duedilligence channel, and people already started working to track down the perpetrators. We would like to thank you all so much for helping us and standing by us when times got tough; we are immensely grateful for the actions of our growing community.
Alan and Annika, the founders of Aventus, are taking full responsibility for what has happened. We are extremely sorry for the pain we have caused some of you. We value our community above everything so to us there is nothing worse than some of our loyal members and newer crypto enthusiasts being taken advantage of by malicious and cowardly actions such as those last night. We will be restoring all stolen funds in this recent scam attempt provided you can prove being in the community for a while and are not part of the hack and the transaction was sent before the release of the second email confirming the SPAM (about a 30 min window); we have already been in direct contact with some of the individuals who lost funds, but if you have not been in touch yet please email us at [email protected] with information about yourself and your transactions so we can refund your loss.
This is a huge lesson to us all. We have been working around the clock to ensure a new, extremely high standard of security, which we will outline below:
- None of Aventus’ email accounts, social media accounts, or servers were compromised; only Mailchimp, and that is how they were able to send an email looking like “[email protected]”. We have deleted our Mailchimp account and created a new one from scratch with a password adhering to the highest security standards stored offline, 2FA and only Alan and Annika have access to it.
- Since email, or more formally SMTP does not validate the “from” address, it is possible for anyone to send an email looking like it came from any address, such as [email protected] or even [email protected] Therefore, we will be accompanying every official email with 3 sources of proof; (1) a tweet confirming the email; (2) a post on our blog, and (3) a Youtube video linked in the email, where Alan or Annika will read out a random string of characters contained at the top of every email. We will NEVER ask for any contributions via email.
- Our token sale address will never be sent via email. We will be releasing it today via 5 sources of proof (some of these we have been mentioning for weeks now): (1) You will be able to look up Aventus.eth on etherscan.io which uses the Ethereum Naming Service for complete security. This will be our token sale address; (2) in a tweet on our official Twitter account; (3) #announcement channel in Slack; (4) a video recording of us reading our the address; (5) A blog post. Please do not send any funds to any address other than after you have cross-checked at least 3 of these sources of truth.
- We have rechecked the MetaCert config on our Slack team and will be using it to monitor all phishing attempts. Tomorrow, on Monday September 4th we will also be disabling all communication on our Slack team; only the #announcement channel will be accessible and this will only contain official statements from Alan and Annika. To get in touch please email [email protected] or tweet us @AventusSystems.
- We have changed all passwords and increased their difficulty 10 fold. We also have 2 factor authentication enabled on every account possible. Until the token sale ends, no account sharing, even through password managers, will occur. We have even higher security protocols internally for our employees to adhere to, which of course we will not be disclosing publicly.
Thank you again, all of you, for your continued support and commitment in helping us put out the fire and manage our community and the repercussions of this attack. We are very fortunate that you are still standing by us, despite what has happened. Lets continue to work together to make Aventus a huge success and a much needed change in the traditional ticketing industry.
We have plenty of announcements coming today, tomorrow, and before the token sale commences on the 6th September; we cannot wait for you guys to see what’s in store.
Sincerely, Annika Monari and Alan Vey Directors and Founders of Aventus
How to Participate in the Aventus Token Sale
Hi all! As we approach the final days before our token sale we have put together a guide for how to contribute, expected gas limits, and approximate block numbers.
Token Sale Structure
- From 5 September 2017, 12:00pm UTC to 6 September 2017, 12:00pm UTC the whitelist submission period occurs. During this time, only participants registered on the Aventus whitelist will be able to contribute Ether. All other transactions will be rejected.
- From 6 September 2017 12:00pm UTC to 13 September 2017 12:00pm UTC, the public token sale occurs. During this time, any participants will be able to contribute to the sale. During the public sale, there will be at minimum 5,000 ETH.
- All information, contribution instructions, T&Cs etc. will be at https://sale.aventus.io.
- You are not buying a security, you are buying a utility token for the Aventus Protocol and associated network. As a purchaser of AVT, you are not making an investment of capital — you are purchasing AVT to obtain the bundle of rights associated with the token, including the use of the Aventus Protocol.
- The approximate block number of the public token sale is block #4,244,327.
- The gas amount limit we suggest to put in your transactions is 110,000. It will definitely cost less, but we suggest you put that limit to be sure your transaction gets in.
- Please DO NOT SEND ANY ETHER TO ANY ETHEREUM ADDRESS SENT IN AN EMAIL. We will NOT email you any addresses asking for contributions.
Token Sale Address
Please note: if you send any Ether to the address below it means you have agreed to our terms and conditions.
The token sale address is: 0x8b7B6C61238088593BF75eEC8FBF58D0a615d30c.
The token sale address will also be presented in the following 4 ways. ALWAYS CROSS CHECK MULTIPLE SOURCES BEFORE SENDING ANY FUNDS.
- Look up Aventus.eth on etherscan.io which uses the Ethereum Naming Service for complete security. This is our token sale address.
- In the #announcement channel in Slack;
- This video recording of us reading our the address on our youtube account;
We are very excited for our token sale starting on September 6. If you have any questions about the information above, please give us a shout on Slack; our team is working around the clock to ensure a smooth sale with the maximum security, and is answering all questions as quickly as possible.
Aventus (AVT) Weekly Update Exchange Listings,Product Development & More
This is our second update in our weekly update series about our progress in building our business and product at Aventus. Over the last week, progress has been made on the following fronts:
- Exchange listings
- Product Development
Exchange Listings and Price Dip
We feel like its starting to sound like a broken record, and we apologise for the inconvenience and irritation this has caused; listings take time, especially given the current market and legal conditions. We explored larger options instead of pursuing smaller exchanges, but with the recent regulatory changes and overall market sentiment it has not been as quick of a process as we would have hoped. Our legal team is working hard to finalise these deals and assure all parties of the extensive audit we had done pre-token sale.
Because of the delay in these listings, we have altered our strategy and decided to start pursuing smaller exchanges. We can assure you that there will be a new listing next week, albeit most likely one of the smaller exchanges.
We also wanted to note on the price dip in AVT. Opening in a down market is not the only reason for the situation; unfortunately, we spent a lot of time and effort marketing to China, and as most of you know in the midst of our token sale their regulatory landscape changed. Hence, to abide to the new laws, we had some Chinese participants that had to dump their tokens immediately — in the region of 10,000 ETH was from China. This is the reason for the large and immediate sell volume seen on EtherDelta.
We have made significant strides in acquiring new team members, and even finalised the lease for a new office space in London (we move on October 2 and will be sharing photos then!). We are going to be doing a proper announcement of our new employees over the next couple of weeks (their start dates are not till at least mid-October), but we can confirm now that we have hired two new engineers and, and have shortlisted both a head of communications and community manager.
Please note; it is worth mentioning that we will be moving off of Slack this week due to the constant spam from scammers using Slackbot and direct messaging. We apologise for any inconvenience caused, and will be moving over to a new platform more suited to our use-case by Thursday.
If you did not see our announcements last week, we will present them here as well.
- On Tuesday, we were featured in a lovely article in the Evening Standard. Subsequently, we also did a short interview on LBC London News that same day at 17:30.
- Charlie Morris from Atlas Pulse TV was also kind enough to interview us last week, which you can watch here.
- We also got a mention in MoneyWeek!
We have been working closely with our first partner, Townsend Music, on rolling out more features in our Blockchain as Persistance (BaP). We even have one off-chain version of a product for inventory management in beta! Townsend Music is currently using it, and it is connected to BaP. We will be releasing more details soon, but for now we are staying quiet whilst we conduct more tests, iterate based on feedback, and roll out more functionality.
We are moving very quickly, have a product in beta, and are rapidly developing out our product line. We have a lot up our sleeve but thought to give you guys some brief information in the mean time so you can get excited.