Token Sale

Blocktix Token Sale: Ticket Distribution and Event Promotion on Blockchain

Blocktix will use Ethereum smart contracts for individuals and event hosting businesses to create, advertise, and transfer ownership of event tickets. It aims to build a single-source event hosting system that includes on-chain ticket distribution, a trustless p2p ticket exchange market, and incentivized advertising. Blocktix hopes to reduce distribution and promotion cost while increasing real-time accessibility of event tickets.

They also hope to crack down on fake tickets, which is a problem facing the industry and has caught football fans, theatergoers, and local concerts. However, the mere existence of a secondary market for already-purchased tickets has become a headache too: online event ticket websites such as Ticketmaster and Stubhub have been exploited by ticket scalpers using sophisticated bots. Ticketmaster has estimated that upwards to 60 percent of tickets for high profile events have been purchased by bots. To bring online ticket sales in line with existing anti-ticket scalping laws, the United States Congress passed a law in 2016 banning the use of bots to buy tickets. The website states it will improve a 2% fee on all P2P transfers of tickets through the exchange, though the white paper doesn’t mention bots, scalping, or other measures to control this practice.

The TIX token issued during the sale will be used, along with ETH,  as a form of payment within the system as well as a reward for verifying events and watching advertisements on the system. TIX tokens also give their holders a vote in governance decisions.

Funds raised in the token sale will be used for system development and for user acquisition measurements in the EU and in the US. The team includes Rob Schins and Ryno Mathee, both formerly of ShadowCash, which recently completed a token swap to restart as Particl.


Project Details

Incorporation statusUnclear
Team opennessTransparent identities but no public acknowledgement of involvement
Blockchain DeveloperRyno Mathee
Technical White PaperOnly non-technical whitepaper
Available Project CodeYes
PrototypeNot available

Token Details

Role of tokenGives holders a vote in governance decisions or protocol changes and is needed to pay fees for listing, selling, and advertising on the platform. Users can still buy tickets in ETH.
Token supply62.5 million
Distributed in ICO40 million
Emission rateNo new coins created
BlockchainEthereum
Consensus methodProof of Work

Token Sale Details

Sale periodJune 7th, 2017 to August 6th, 2017
First price0.12 USD
Accepted currenciesETH
Investment RoundFirst public Offering
Token distribution dateAugust 30th, 2017
Min investment goal2.5 million USD
Max investment cap7.5 million USD
How are funds heldUnclear
Minimal Viable ProductQ4 2017
Bonus schedule
Tier       Price (USD)
First 10 million sold         $0.12
Second 10 million sold         $0.16
Third 10 million sold         $0.20
Fourth 10 million sold         $0.24

Official Resources

1 Comment

July 18, 2017 at 5:14 pm, robert ide said:

i would like to buy some tokens. how do i go about it?

Reply

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