KickCity - Decentralized Event Management & Marketing Protocol on Blockchain
KickCity is a Y combinator startup school Alumnus and one of the companies leading innovation in the event marketing industry using blockchain technology.
One of the biggest problems facing the $40B event industry is marketing. Industrial statistics show that:
- 50% of vendors have problems with getting people to respond to invites;
- 40% have problems with getting people to pay attention to invitees;
- More than 30% cannot minimize no-shows;
- Nearly 30% find it hard getting people to the event;
- More than 20% have problems with confirming who is attending;
We propose a socially viral model for event marketing, where the vendor achieves maximum result because an unlimited number of people are rewarded for promoting his events while the attendees also get rewarded for being loyal to the platform. Every user, event, and ticket have a unique ID which is registered on blockchain. It works like this: each event has a marketing pool where vendors can allocate KCY tokens for reward -based marketing. Once the campaign is launched, any user can click on the event and smart contract generates a unique link for the user. The User can then share this link with his friends on social media and get rewarded when there is a conversion (ticket sales or registration). Smart contracts track all transactions and automatically distribute reward transparently.
The algorithm for distributing values among users is roughly equivalent to the following Java code:
Event organizer Stacy creates an event ‗A‘ with ticket cost at $100 per seat. She obtains and allocates 1,000 KCY tokens for marketing. Users on the platform see her event with a specified number of coins and are motivated to promote it. They can invite their friends within the platform to the event or use unique links to promote the event outside the platform. Once a ticket is bought, the system automatically allocates KCYs to the person or a group of people responsible for the sale or event registration.
Smart contracts help enforce fair distribution of rewards based on user contribution. Attendees who buy tickets, receive rewards for buying on the platform. Users can buy with FIAT or obtain tickets using bitcoins, Ethereum and KCY tokens for less price due to the fact that third parties
(banks) are bypassed. For every promotional campaign, KCY from the pool will be shared among users who bought tickets. This will encourage people to buy more tickets on KickCity and ensure the use of KCY. Gas on Ethereumblockchain for transactions come from the pool too.
Promotion Scheme (Use Case)
For the vendors to achieve maximum result while controlling pool distribution, we propose different pool parameters; Common pool distribution. This model distributes all available KCY tokens to participants once the event is over or tickets are sold out. It doesn't depend on the number of participants. Cumulative common pool distribution. This model distributes reward proportionally to the percentage result reached during the promotion. Independent of the number of participants. i.e. if there is 70% result (conversion) than 70% of the available token will be distributed. Result based pool distribution. This model allows the vendor to select and how much reward a user will get for 1 result — a conversion.
KickCity protocol is designed to be fair. This means that P2P marketing structure is not a pyramid. It's marketing on the same level. Every promoter gets equal distribution of tokens if they contributed equal result-based promotional power. Time or order of invitation does not play any role in the system. A user who has more conversion via his link or invitations earns more.
Introduction of Incitation Cost (Gas)
For quick growth, the first iteration of KickCity protocols is designed to become viral. Anybody can easily get a unique link which he can share and receive rewards without any cost. In the short-run, it is beneficial to the company as more people will get onboard. On the long-run, this could potentially result to spamming within the platform. Therefore, once KickCity hits 1 Million users, Multi-Level-1 marketing will be introduced. This means that every invitation will bear a minimal cost. We prefer to call this cost ―KCY token gas‖. If an invitation is successful, the cost will be returned + the reward. Unsuccessful invitation costs will return to the common event pool for that event.
Reed’s Law & Network Effect
Reed's Law states that the "utility" of large networks can scale exponentially with the size of the network. The reason for this is that the number of possible sub-groups of network participants is 2N, where N is the number of participants. So if the utility of groups being available to be joined is very small on a per-group basis, eventually the network effect of potential group membership can dominate the overall economics of the system.
KickCity protocol is designed to run millions of events where each event is a subgroup with N participants. The activities of each participant and subgroup will potentially benefit the whole system.
Purchase of KCY by Event Organizers
For simplicity and mass adoption, event organizers will have 2 main methods to purchase a token for marketing.
Exchange — Event vendors can purchase KCY in exchanges according to the market value.
Credit card or other payment solutions - Many event vendors are not familiar with how exchanges operate. For this reason, a web page will allow event organizers (only) to buy KCY and transfer directly to their event pool. The cost of KCY on this page will always be higher than the purchase rate in exchanges. This is to motivate vendors to buy from exchanges.
White Label and Integrations
In order to facilitate quick expansion and easy adoption, we will offer white label API technology for KCY integration to other event platforms. We are looking at a future where KCY is the universal event promotion token. We are building an infrastructure that other event platforms can connect to and drive more ticket sales by rewarding their users and improving social interaction at events.
A Smart Token Based on the Bancor Protocols
KCY-tokens are smart standard ERC20 tokens which implement Bancor protocols, providing asynchronous price-discovery while maintaining continuous liquidity by using constant ratios of reserve tokens (BNT) held through smart contracts, acting as automated market makers. KCY will equally be traded on the exchanges. Benefits of Smart Tokens:
- Continuous Liquidity – since purchasing and liquidating is done through the smart contract, smart tokens are always liquid, irrespective of their trading volume;
- No Extra Fees – the only mandatory fees applied by a smart token are the Blockchain platform fees (gas) which are relatively low;
- No Spread – since the price calculation is done algorithmically by the smart token, the same price applies to purchasing and liquidating the smart tokens;
- Lower Volatility.
KickCity Event Platform
KickCity – built a community-based social event platform for event organizers and attendees. For the past year, ‗KickCity, Inc.‘ has focused on building communities around events, providing event organizers with tools to create, promote and monetize their events. Every user has a profile and one can invite friends to events and enjoy personalized content. The event industry is undergoing metamorphosis and KickCity is one of the companies leading this. A few years ago, tickets were bought or sold offline. Now it's happening online. The new phase of event ticketing is based on social interaction. Users don't just want to buy tickets, but know and interact with fellow attendees before, during and after events. Moreover, with the growing speed of the internet, anyone would be able to set up a processing gateway and accept tickets for his events. Therefore, Event platforms of the future will be fully built around people. Event communities — decentralized or centralized.
KickCity adopted artificial intelligence (AI) algorithm to show personalized content for users. We have achieved 92% accuracy on a recommendation by building a social graph of users on our platform and their activities on other social networks.
-- Vendor Admin Panel
- Analytics & Sales report;
- Widget for websites;
- FIAT & Bitcoin ticket processing;
- Event Page & Social App;
- User profile;
- Attendee list;
- Event description and contact;
- Event video;
- Event comment;
- Event chat & comment.
- Y Combinator Startup School;
- Microsoft Bootcamp Helsinki;
- Grant from NewCo &Government of Helsinki;
- Angel investment;
- Revenue Generating.
Q4 2016 — KickCity App initial release
Q2 2017 — KickCity Event platform + initial revenue
Q3 2017 — Blockchain development and KickCity protocols
Q4 2017 — KickCity Protocol Demo and Use cases
Q1 2018 — Crowdsale ―TGE‖ February 1st
Q3 2018 — More uses cases, More development, release of protocol API
Q4 2018 — Unicorn growth.
Development & Team: 30% of the budget
- The team consists of 10 developers and we intend to increase the development and marketing team in order to achieve great and quicker results. We are already conducting interviews and selecting the best from the best.
Administration: 13% of the budget
- All administrative costs, which includes and does not limit to legal, security, accounting, office costs.
Marketing: 50% of the budget
- Our goal is to bring cryptocurrency to everyone on earth. That is why half of the budget is focused on marketing. We already have top marketers on our waiting list and as ambassadors. We will create many viral marketing campaigns.
Contingency: 7% of the budget
- We need to be ready for unforeseen costs. The excess will be directed back to marketing or to buying back tokens from the market.
Token Crowdsale (1 ETH = 3,000 KCY)
- Target: USD 12.5 Million;
- Launch date: February 1st, 2018;
- Time-frame: 30 days;
- 1 ETH = 3,000 KCY;
- 160 Million smart tokens will be available for crowdsale;
- We will accept Bitcoin and Ether;
- 500 Million KCY will be created;
- 160 Million KCY will be sold during crowd sale and all unsold tokens will be destroyed;
- 100 Million tokens will be allocated for user adoption and air drops;
- 70% of team token will be vested for a maximum period of 4 years;
- 50 Million team token;
- Partner Tokens — 50 Million (Partner Tokens include bounty & marketing, advisors, traditional angel investors, who invested in KickCity 2 years ago; 30% of the partner tokens will be vested);
- 140 Million tokens will be retained by KickCity for future sales.
The percentage distribution of KCY tokens MIGHT change following forecasting on the Wings platform.
After Forecasting on Wings platform:
- Price and bonus of token (KCY) will not change;
- Token allocation and distribution might change;
- Number of created tokens will not change;
- Number of tokens sold during crowdfunding might change;
- HardCap might change.
KickCity Event platform is ready.
By giving people the reason to care, Network effect by Reed‘s law can drive virality.
Gideon Nweze (Gibson)
CEO & Founder
Gideon is an Engineer and an experienced team builder, visionary and leader. He studied in Geneva Business school Barcelona Campus and recently graduated from 'Y Combinator' Startup School Accelerator.
Dr. Brylan Chinonso is the Chief Business Development Officer and Co-founder of KickCity. He strongly believes in the values that KickiCity will bring to countless of events globally, that are ever in need of marketing efforts. As well as the app users that desire to attend specific events according to their specific needs or preferences.
CMO & Product
Artem loves UI/UX Design, Marketing and Product Strategy. He is an Alumini of 'Y Combinator' Startup School Accelerator with masters in International Business Development.
Business Development, Singapore
Hugo graduated from Regent's College University in 2008.
He moved to Singapore in 2011 and continues diversifying his domain of
expertise in a Venture Capital as Chief Investment Officer for a
Singaporean VC. He founded LILY S.E.A. Group 3 years ago, the company
has been focusing on sustainable investment opportunities in the
following areas: Data Reconciliation (Blockchain), Renewable Energies
and Agri Tech / Food Tech.
Chief Marketing Officer
Felipe Lopez brings his creative background, his love of
culture, and extensive event knowledge to the team. Lopez is a
Multi-Dimensional self-taught visual artist based in Houston, Texas. His
experience in art along with his immense marketing and web design
knowledge have aided numerous startups, artists, and professionals in
maximizing their product and craft to the next level.
Rostik has a strong background in mathematics and
cryptography (PKI,AES/DES/GOST28147, RSA/DSA/ELGAMAL,ZKP). He is
Experienced in distributed technologies, blockchain technologies (IOT,
Healthcare, Travel, Finance, Government) & Java/C/C++.
Leonid is a passionate developer and loves optimazing
every single line of code. He loves beer too at the weekends. His
— Python, R, Scikit-Learn, XGboost, BigARTM, NLTK
— Java stack: Java/Kotlin, RxJava, Android SDK (+ Dagger), Spring, Hibernate, Maven/Gradle
Ulad makes the best code jokes and codes better than his
jokes. He has experience working in Yandex (Russia) and Google (Silicon
Valley). Ulad’s hobies:
— RabbbitMQ, ActiveMQ, ZeroMQ
— Frameworks & Technologies: AndroidSDK (+ Dagger), Rx, AngularJS, Junit, Gradle
— Tests & CI: Teamcity, Jacoco, Sonarqube, Travis
Danil has working experience at Mail.Ru Group (Russia) and Facebook (London). He loves coding and doesnt drink.
— Java stack: Java/Kotlin, RxJava, Android SDK (+ Dagger), Spring, Hibernate, Maven/Gradle
— JVM languages: Java, Scala, Kotlin, Groovy, Clojure
— Functional languages: Haskell, Idris, Agda
— Android development
Aleksandra is into linguistic and intercultural
communication. She has working experience in luxury oriented design
studio as an account manager. She also lived in London and New York.
Maria graduated one of Saint Petersburg's universities
with diploma in PR. She is in love with communications, for several
years worked in a large media group in Russia, where she got huge
experience in advertising and communicating with different people.