Evedo seeks to bring event planning to the blockchain

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Evedo, a platform comprised of business-to-business, or B2B, and business-to-consumer, or B2C marketplaces, seeks to provide blockchain solutions to businesses and attendees involved in organizing events.

In an exclusive Ask-me-anything, or AMA, session with Cointelegraph Markets Pro, Stoyan Angelov, Founder and CEO of Evedo & Fragmint, discussed the business dynamics and tokenomics of Evedo.

Tokenomic Evedo | Source: Evedo technical bridge

CT Markets Pro User: How does Evedo use blockchain technology for the event industry? Will the ecosystem be accessible to all or only to artists and organizers of major events?

Stoyan Angelov: The EVED token is a utility token used to generate smart contracts between buyers and sellers of tickets. Even now, we have over 1,000 clients who work with our platforms to run events, and we are event independent (small, medium, large of all types). Thus, all event organizers are welcome to use the system. This is what the user profile looks like. We already have over 5000 users there and in the coming weeks we will update and launch the updated marketplace.

CT Markets Pro User: How can event planners trust tokens given that they have fixed costs to pay?

Stoyan Angelov: In the beginning, we will be implementing Stable Coins and the EVED token will be used for premium features like targeted advertising, community management and access to different tools on the platform. As a result, event organizers or other providers will be able to choose whether they wish to accept partial or full payment in EVED.

CT Markets Pro User: What is Eve’s business model, given that there are no ticketing fees?

Stoyan Angelov: Evedo’s business model is based on added value in the ecosystem. Keep in mind that we also have a commission on ticket sales. 0% 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 fees issues?

Stoyan Angelov: We still haven’t implemented EVED payments in the ticket office because of the insane gas charges. Unfortunately, this is a spectacular adoption in ticket sales. Our exit plan is to become multi-chain and integrate the first HYDRA blockchain. In this way, we will finally have a chance for EVED to be implemented.