The event industry is about to change, and Evedo will make sure of this. Evedo is a blockchain-based platform that includes B2B and B2C marketplaces.
The company’s aim is to unify all business and participants in the industry of event organizing.
The primary goal of the company is to develop a marketplace and an ecosystem that will support the $850 billion event industry growth by connecting all the players involved without the need for third-parties getting involved anymore.
Evedo is Bulgaria’s first blockchain venture to launch an initial exchange offering.
Evedo aims to become a game changer for the event planning industry
Evedo’s primary goal is to disrupt the $820 billion events industry by using DLT and by connecting all the parties involved without the need for middlemen.
“Evedo was founded exactly one year ago to pursue a magical idea: to improve events and event organizing,” according to Stoyan Angelov, CEO of Evedo.
He continued and explained that “Our mission is to synergize all participants in conducting events of all kinds. This approach allows stakeholders to improve their work, have the highest level of security, and eliminate middlemen along the chain.”
Evedo launches IEO of BitForex
The platform will be making available to investors 2,000 EVED tokens per 1 Ethereum (ETH) according to the official press release.
EVED utility token is used by the company’s blockchain infrastructure for token economics, and it will also make possible the use of smart contracts.
The token sale is scheduled to begin on April 16 at 5:00 p.m. local time via the Hong Kong-based BitForex digital asset platform.
The same official press release reveals that the minimum purchase is 1 ETH with an individual hard cap of 100 ETH.
The subscription amount is 29 million EVED which means 18% of the 160 million supply.
BitForex revealed that all the tokens that will not be sold are going to be destroyed.
It’s also worth knowing that the circulation supply is of 56 million EVED which means 35% of the total token supply.
BitForex has a daily trading volume of about $600 million according to the latest data coming from CoinMarketCap.
Token Bonus and EVED/ETH trading pair
Evedo’s IEO on BitForex values the token at 0.0005 ETH per 1 EVED. The trading pair EVED/ETH is available on the exchange, and there’s no lockup period.
There’s also a bonus scheme involved which rewards early investors and it’s distributed in 7 business days following the token sale end.
- The first 100 participants are rewarded with a 20% bonus.
- Participants nos. 101-300 are rewarded with a 15% bonus.
- Participants nos. 301-500 are rewarded with a 10% bonus.
- Participants nos. 501-1000 are rewarded with a 5% bonus.
The IEO’s goal is to raise about $2.5 million and to use the money in order to develop the company’s product and to build the ecosystem which includes B2B and B2C marketplaces.
Main problems that Evedo plans to eliminate
Here are the most common issues that Evedo is planning on eliminating with its project, according to the original press release:
- Expensive tickets ($500 billion ticketing industry)
- Ticket fraud
- Poor planning and loss of time ($50 billion event-rental industry)
- Artist competition and artist mismanagement ($200 billion artist-booking industry)
- Lack of funding ($65 billion event-sponsors industry)
- Software issues ($6 billion event-software industry)
Elena Kalpakchieva, CMO at Evedo stated that IEOs are very strong and credible ways of crowdfunding the future development of a platform.
She also said that this is definitely a viable way to enter new markets.
Closing words
There have been a lot of mixed feelings regarding the IEOs, but it’s pretty obvious so far that this fundraising method is here to stay.
Binance has unveiled IEOs via their Launchpad on the verge of ICOs failing to deliver on quick capital, and this opened a door that won’t be closing too soon.
IEOs have been gaining enhanced popularity, and this is due to the reduced risk for fraud and the fact that they provide more options for customers, enabling traders with more transparency and freedom.
2019 will most likely see a growing prominence in IEOs, and Evedo’s IEO is one to keep your eyes on.
