25 July 2017, 07:52:15 UTC
The Blocktix crowdsale will be an opportunity to acquire credits (TIX) to host events and advertise on a decentralized event hosting platform, built on Ethereum. Crowdsale funds will be allocated to complete development of the system, provide funding for the user acquisition strategy and fund promotions that will transition Blocktix into the most economically sensible platform for event hosting businesses.
More information about the Crowdsale can be found on our Blog
Event hosts can use Blocktix to distribute tickets and directly market to people who are most likely to attend their events.
Blocktix provides a simple and secure solution to distribute counterfeit-proof event tickets and facilitate trustless p2p transfers of ownership.
Blocktix leverages the efficiency of the Ethereum blockchain to reduce ticketing, marketing and ownership transfer fees by up to 90%.
Blocktix smart contracts will be provably secure and will undergo rigorous external security auditing.
Blocktix is an Ethereum based, counterfeit-resistant solution for individuals and event hosting businesses to distribute, advertise, and transfer ownership of event tickets or passes.
Event hosting is an expansive and growing market, yet much like the financial industry, it suffers from constant, systemic challenges regarding fraud prevention, transfers of ownership and intermediary cost.
Utilizing Ethereum smart contracts, the Blocktix platform will leverage the power of decentralization to resolve the systemic issues currently plaguing the event hosting industry.
Blocktix will combine on-chain ticket distribution, a trustless p2p ticket exchange and an incentivised advertising network to create a single source event hosting platform that replaces the fragmented legacy systems currently in use.
The Blocktix platform will have a dramatic effect on the event hosting industry as it will reduce distribution, transfer and promotion costs up to 90% and create real-time accessibility for concertgoers to instantly obtain/sell tickets. These improvements will enhance the concert attendee's purchasing experience and amplify the event host's ability to return a profit.
For further explanation of the technical details and function of the system, please see our whitepaper
We believe the Blocktix user acquisition plan will simultaneously grow the Blocktix and Ethereum ecosystems.
Although many counterfeit-resistant ticket distribution systems have been developed, some using central ledgers and even some proposed utilizing blockchains, most of these current solutions experience one major obstacle: user adoption. Event hosting businesses cannot use ticket distribution systems that have no users, regardless of the security benefits and cost savings those systems offer. The Blocktix team's experience in the event hosting and marketing industries, has enabled the development of an innovative and practical plan to solve the user adoption challenge. The objective of this three-part plan is to bootstrap the system with a network of users, making it economically advantageous for other event hosting businesses to host their events on the Blocktix platform.
A portion of the future crowdfunding will be used by Blocktix to host a series of concerts. These concerts will be held near college campuses in California, focusing on venues capable of hosting 10,000+ attendees. In order to gain access to these concerts, the attendees will be required to purchase tickets through the Blocktix application, with ETH/TIX as the only accepted methods of payment. For most concertgoers, the desire to attend a concert and to see their prefered artist perform, will outweigh the small learning curve associated with using the Blocktix system. (see FAQ)
For these events, Blocktix will act as the event host rather than occupying a sponsorship role. As the event host, we will retain the events' proceeds and any surplus revenue resulting from the events. All proceeds from these events, along with any surplus revenue, will be transferred forward and reused to host additional events. This strategy will enable Blocktix to host a long series of events, thereby adding tens or hundreds of thousands of concertgoers to the Blocktix network and, ultimately, introducing these individuals to the Ethereum ecosystem.
To help supplement the cost of events and extend the number of events possible, Blocktix will explore sponsor partnerships with companies in the crypto-currency/blockchain space, focusing primarily on crypto-currency exchanges. As all Blocktix events will require ETH/TIX as the only method of payment, all concert attendees will need to have a basic exchange account. A partnership with Blocktix will allow an exchange to acquire tens of thousands of new customer accounts while also providing marketing opportunities at the events. These partnerships will add additional sources of revenue to Blocktix events, thereby greatly extending the number of hosted events possible.
Rather than attempting to acquire a share of current crypto-currency users, the Blocktix user acquisition plan directly targets mainstream individuals (concertgoers) and exposes these individuals to crypto-currency. For this reason, we believe the Blocktix user acquisition plan will simultaneously grow the Blocktix and Ethereum ecosystems.
A portion of the event hosting fees will be allocated to retain users and encourage reuse of the Blocktix system. After each new event, ETH/TIX tokens will be distributed to every application wallet that has used at least one ticket to a prior event. With each new event held, additional TIX/ETH will be distributed to each prior user. The continued disbursement of ETH/TIX will increase the value in each prior user's wallet and thereby create an increasing incentive to purchase additional tickets for concerts hosted on the Blocktix system.
All previous ticket users will receive fees for viewing in-application event advertising. This incentive to view the event advertising will increase the effectiveness of the in-application advertising. Receiving the incentive fees will increase the amount of ETH/TIX in each user's application wallet, encouraging them to purchase additional tickets for concerts hosted on the Blocktix system.
The Blocktix user acquisition and retention plans have been designed to develop a network of Blocktix users, with an interest in event attendance. Access to this network will represent a valuable opportunity to target a concentrated base of tens/hundreds of thousands of users, with the additional benefit of each user possessing a wallet balance, ready to use toward purchasing tickets. The unique Blocktix platform allowing open access to this network of users will provide a very compelling economic and practical incentive for event hosting companies to choose the Blocktix platform when hosting their events.
Blocktix is an incentive driven system for both ticket users and event hosting companies; it adequately eliminates the limitations of existing platforms, including offering solutions for counterfeit and transaction fraud, reducing promotion associated fees by nearly 90% and improving the overall user experience. By providing solutions to the constant, systemic challenges in the event industry, Blocktix will swiftly become the most cost-effective and prefered platform for event hosting.
*Blocktix will operate in cooperation with event promotion companies, artist management companies, event venues, ect.
The Blocktix platform will require TIX Tokens to be used as a system access fee and to have new events show up on the event feed. TIX tokens will also be required to place in-application advertising. TIX and/or ETH tokens will be necessary to facilitate ticket purchases and P2P transfers. The hosting, transfer and marketing fees will be distributed to TIX token holders who participate in the event/advertisment verification process which is open and available to all TIX holders.
Fee rates will initially be set as described below. Fee rates will be increased/decreased by majority vote of TIX holders after launch of the system.
Posting fee based on number of tickets and total value of all tickets offered, roughly 2%.
2% of the value of all p2p transfers through the exchange platform.
A per contact fee for direct marketing to local users of the Blocktix application. The amount of this fee will be based on regional advertising network traffic.
Blocktix fees are designed to eliminate spam, compensate token holders who participate in the event/advertising verification process, discourage for-profit ticket trading (scalping) on the P2P exchange, and to incentivise mobile application users to view event advertisment. There should be no expectation of profit from TIX token ownership or from the Blocktix system.
The Blocktix System is a platform that replaces the current fragmented markets of event ticket distribution, ticket transfer and event promotion. Blocktix is a single system for all services and provides a low overhead for distributors and promoters, freeing up money otherwise wasted in inefficient market based systems.
Event hosting is an expansive and growing market, yet much like the financial industry, it suffers from constant, systemic challenges regarding fraud prevention, transfers of ownership and intermediary cost. Event hosts use a series of costly, legacy services to provide a solution for these challenges.
Utilizing Ethereum smart contracts, Blocktix offers a near perfect solution to many of the current challenges facing event hosting businesses.
The recurring challenges in the event hosting industry provide a substantial opportunity for a system with the ability to resolve these issues to attract a significant share of hosted events.
According to Meeting Professionals International, "The American meetings and events industry directly and indirectly supports 6.3 million jobs and generates almost $1 trillion a year in direct, indirect and induced spending. The industry’s direct $106 billion contribution to the U.S. GDP is greater than the amount generated by auto manufacturing ($78 billion)..."
[The True Value of the U.S. Meetings and Events Industry, March 25, 2011]
An onboarding exchange portal will be developed and targeted at new users of crypto. This portal will be simple, featureless, and directed at new users only. The portal will look and operate similar to an online bank account transfer. There will be a very small learning curve for any new user to understand how to acquire ETH and use it on Blocktix. In our testing, the learning curve takes less than one minute to acquire a satisfactory understanding of making a transaction on the Blocktix portal.
Blocktix leverages the efficiency of the Ethereum network to reduce fees paid by hosts and patrons by up to 90% from other ticketing systems. Due to the counterfeit-proof nature of the Blocktix blockchain based marketplace, a ticket's proof of ownership is easily verifiable, and even easier to transfer from one person to the next without the need of trusted intermediaries. Another benefit of Blocktix is the real-time accessibility for concertgoers to instantly obtain and sell tickets up to seconds before showtime.
Crypto based, decentralized systems can offer drastic reductions in cost and improved efficiencies over centralized company systems. The main hurdle of a decentralized system is for the system to gain enough users to experience the benefits of decentralization. Drawing from our experience in the advertising and promotion business we developed a plan to bootstrap the system with tens/hundreds of thousands of active users. See our User Acquisition section for detail.
With over 15 years experience in graphics, UI-UX, branding, front-end and back-end applications with an overall passion for being part of bleeding edge tech start ups. Gerlof has gained valuable experience working for international companies like Disney, Yves rocher and other major design companies. He's played part in various successful crypto and blockchain projects.
Technical writer and systems architect with a passion for decentralization, security and cryptocurrencies. Coauthored initial White Paper Draft for Blocktix.