Hype rating: 2
Description: Eventchain is bring smart contract technology based on blockchain to the events and entertainment sector. By making use of its tokens EventCoins, stakeholders in the ecosystem will be able to execute, issue and purchase event tokens with much more ease than we currently have off-blockchain.
Start of ICO 13.09.2017 End of ICO 17.11.2017 Hard cap $13,500,000 Raised $772,896 (5.7%) Token Sale Price $0.42000 Whitelist / KYC /
|Market cap||Volume (24h)||Circulating Supply||Total supply||Return|
|$494,005.00||€431,766.00||¥3,391,988.00||$2,267.29||€1,981.64||¥15,567.90||31,250,497.00 EVC||84,000,000.00 EVC||x 0.04|
- Team mostly comes from the company called Click4time Software, which lacks any meaningful presence online, but is selling online appointment booking & scheduling software solution. Ashton Addison as the CEO is a recent graduate (2016) without any notable experience. CTO Hasham Ahmad and core developer Thortsten Schmitt-Rink do not have a Linkedin profile.
Blockchain based ticketing/event platform is a popular idea with a lot of similar competing ICOs. We believe that blockchain can be successfully applied to the ticketing industry if executed well.
The Alpha demo of their platform concept demonstrating effective blockchain ticketing is already published on their website.
Business model relationship and value flow:
EVC tokens will be used inside their platform. No mention in the white paper of any outside use.
Function/utility of the token:
From the website:
- Create events
- Promote events
- Purchase tickets
- Get VIP access
- API access
Could be done with Bitcoin/Ethereum to some extent. The primary function of the platform - ticket purchasing can be done with other cryptocurrencies.
Concert ticket market is estimated to top $24 billion in sales by 2021. The global market for live music ticketing is predicted by grow by an average of 7% annually in the next five years.
Ticket Master, EventBrite, StubHub, Eventim
Strong entrenched incumbents such as Ticket Master and EventBrite, and blockchain competitors that raised tens of million dollars such as Aventus and Blocktix, make us doubt that EventChain can capture any meaningful market share in the concert ticketing industry
There is almost no code available: https://github.com/eventchain
1 commit, 2 branches
Bitcointalk thread is active.
Plans for listing:
From the roadmap: Exchange Listing (2017 Q4). Launch EVC token on first exchanges
We are doubtful that any of the major exchanges will list Event Chain.
The token sale was prolonged without any explanation or provided date and is still running. Not transparent at all.
Company established: EventChain International SmartTickets Pte. Ltd.
Distribution of tokens:
65% of tokens available for crowd sale.
Lock up period:
12,600,000 (15%) of the EVC Tokens are distributed to EventChain’s legal entity. These tokens will be vaulted for a two year vesting period whereby 25% of tokens will be unlocked each subsequent six months, beginning from the date that participants receive their EVC Tokens.
Plans for audit: