“We have theaters, disco clubs, event halls. In 2022, we have a goal to onboard 1,000 new venues around the world using seating ticket sales,” says CEO and founder Stoyan Angelov.
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Evedo, a platform consisting of business-to-business, or B2B, & business to consumer, or B2C, marketplaces, seeks to provide blockchain solutions for businesses and participants involved in organizing events.
In an exclusive ask-me-anything, or AMA, session with Cointelegraph Markets Pro, Stoyan Angelov, founder & CEO of Evedo & Fragmint, discussed the business dynamics and tokenomics of Evedo.
Evedo tokenomics | Source: Evedo Technical Deck
CT Markets Pro User: How does Evedo use blockchain technology for the events sector? Will the ecosystem be available for everyone or just artists and big events organizers?
Stoyan Angelov: The EVED token is a utility token used to generate smart contracts between ticket buyers and sellers. Even now, we have 1,000+ clients that are working with our platforms to execute events, and we are event agnostic (small, medium, large of any type). So any event organizers are welcome to use the system. This is how the user profile looks like. We already have 5000+ users there, and in the following weeks, we will update and launch the updated marketplace.
CT Markets Pro User: How can event planners rely on tokens, considering they have fixed costs to settle?
Stoyan Angelov: At the beginning, we will be implementing stablecoins, and the EVED token will be used for premium features such as targeted advertising, community management and access to different tools on the platform. Consequently, the event organizers or other service providers will have the option to choose if they want to accept partial or full payment in EVED.
CT Markets Pro User: What is Eve’s business model, considering there is no ticketing sales fee?
Stoyan Angelov: Evedo’s business model is based on the additional value in the ecosystem. Keep in mind that we also have a commission from the ticket sales. A0% commission will be if the organizers use the EVED token for sales. FIAT is available now, and with FIAT, we charge a 5% commission.
CT Markets Pro User: How will Evedo deal with high Ethereum (ETH) gas fee issues?
Stoyan Angelov: We still didn’t implement the EVED payments in the ticketing because of the insane gas fees. Unfortunately, this is a show-stopper adoption on the ticket sales. Our exit plan is to become multi-chain and onboard the first HYDRA blockchain. In that way, we will finally have a chance for the EVED to be implemented.