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Blockparty Monthly Review —...
Blockparty Monthly Review — June 2020It’s time for the Blockparty Monthly Review #June 2020.1. Overview2020 is officially past the halfway point. There’s hopeful optimism in the world that the second half of this year could be an improvement from the first Despite the COVID-19 case numbers creeping up, vaccine release dates are on the horizon. In stocks and cryptocurrencies, Robinhood traders are pushing companies like Tesla into the stratosphere. Altcoins like Chainlink, Binance, Dogecoin and Compound have been flying. And at Blockparty, we’re pumped about the forthcoming launch of our brand new NFT marketplace.Release of the Blockparty marketplace is nearing the finish line. What was once abstract is now lines and lines of code and pages and pages of UX. We’re onboarding NFT’s and creators, and preparing to embark on external marketing. Internal product demonstrations have us excited, as we can see the results of our hard work. There’s proof that what we have imagined for this year and years beyond is not only possible but within reach.What you’ll soon see is our outbound outreach and dialogue with creators, the crypto community and the broader art and collectibles market. We’re gearing up to launch and it’ll soon be time to start talking with people about what’s in store.More of you in the community are asking about the marketplace, and how you can get involved. To that end, we will have a 360 AMA this coming Friday with the community in our Telegram channel. What’s a 360 AMA? The idea is the community can ask the team anything (within guidelines). In turn, the team can ask you questions on topics that we would love your input on. Such as, the things you’d like to see in the marketplace, from token utility to types of collectibles, launch schedules, special drops, your NFT wish lists, and more.TL:DR! We have a 360 AMA scheduled for Friday July 17th at 1:00pm EST in the Blockparty Community Telegram channel. We’d love you to be there. Link: t.me/blockpartycommunity.2. RoadmapIn February, we released our Blockparty 2020 post. It included several key roadmap dates for 1H 2020. In our April Monthly Review, we added a line item to the roadmap. Here is an update of how we’re progressing on each roadmap date:Q2 2020 → Update on token utility and blockchain development — Provided initial update on utility in April. Final update out in AUGUSTWe previously shared that we expect that the BOXX token would have utility for the Blockparty marketplace at launch with specific utility, and expand BOXX usage as we hit further milestones with the marketplace post launch. We are currently in planning stages for what expansion of the utility would look like. The effort is being led by CTO Joseph Fiscella, including additional resources from the crypto community that Joey has contracted in the past month to help plan and build.Some of the things we’ve been thinking about working through are tokens as rewards, tokens as payment, tokens for staking and tokens for prediction. We believe that, with the rapid growth of DeFi infrastructure, there are many new tools and platforms that we can integrate with or be part of. Our goal is to ensure we create the infrastructure that doesn’t limit the potential for the token to play a broader role in the crypto community.June 2020 → Launch of Blockparty Marketplace — NOW AUGUSTIn February, we had expected this to be completed by June, and later found that there is enough front-end development work outstanding that we would likely need until the end of July. Our team has a very specific vision about the goals that the UI/UX experience needs to achieve and we need to get the foundation right early to build on for the future. We require an additional two-week product sprint to get there and be completely ready.As a result, we are retargeting launch for the week of August 17June 2020 → Blockparty NFT’s — NOW JULYWe continue to build out a brand new never-seen-before NFT product. We’re really excited about this. Numerous clients and blockchain veterans have shown interest in what we’re doing here. We intend to provide a formal product overview of this product in tandem with the launch of Marketplace.We wouldn’t say this lightly but we believe it’s revolutionary and it’s going to attract users and volume.3. Product UpdateBlockparty MarketplaceIn the first week of June, Blockparty hit and end point in digital asset marketplace development:NFT supportNFT backendNFT payment confirmationNFT transferNFT withdrawalNFT user wallet integrationOn-chain integrationWe’re focused on finishing coding for the front-end storefront and finalizing the token integration with payment systems.TokensThank you for your inputs and comments in the DM’s and in the Blockparty Community Telegram channel. We appreciate it. We continue to work on this and will demonstrate at the time of the launch of the Blockparty Marketplace in August. We will provide a formal announcement near then. We are unlikely to be able to provide a firm roadmap during the AMA, but we expect to be able to have discuss your ideas and what we’re seeing as opportunities across the space.4. SalesAs indicated in earlier months, many of our discussions are with brands that are predominantly live events oriented. We expect to have digital assets related to sports and music on our marketplace at launch, but in greater volume in early fall which is also when we expect our entertainment clients to have some clarity on their futures relative to COVD-19, based on what they’ve shared with us to date. Our sales team is already closing deals to have brands in our 3 verticals Music — Sports — Art ready to go at launch.5. Team hires and movesWe have completed a number of major hires over the past month and we’ll start dripping these announcements out over the next few weeks leading up to the marketplace launch. We continue to build on a new team of strategic advisors and partners. We’re excited about what our advisors bring to to the table and will share their names along with a formal update pre-launch.—That’s it for now. Short and sweet — but we hope to expand and share more with everyone during our 360 AMA on Friday July 17 at 1:00pm. We hope all can meet us there in our Telegram community channel: t.me/blockpartycommunityWith love,Team Blockparty***Follow us on Twitter to get all the news right away: https://twitter.com/BlockpartyBe sure to read all our stories on Medium over here:https://medium.com/@goBlockpartyDon’t forget to join the unofficial Blockparty Telegram Community channel:https://t.me/BlockpartyCommunitySubscribe to the Blockparty News newsletter to get the latest updates and special drops: http://blockpartynews.substack.com.
20. 07. 13
Blockparty Monthly Review —...
Blockparty Monthly Review — May 2020It’s time for the Blockparty Monthly Review #May 2020.1. OverviewIt’s hard to believe that this update brings us close to the halfway point of the year. It’s a moment to reflect on what we hoped to accomplish at Blockparty from January 1st, what it looks like now relative to how we imagined it on a whiteboard, and how far we’ve come in these months. Amidst all of this reflection, we do apologize for the delay with this May monthly post.To be honest, this has been one of the hardest months we’ve had to face as a team. We are deeply saddened to inform everyone about the loss of our team member, Matthew Davis. Matthew worked on our engineering team, and was among the first hires of the year. He joined and immediately hit the ground running making improvements to the Blockparty Tickets product. Matt was the type of personality we were hoping to scale Blockparty with; cool AF, incredibly intelligent, hard working, opinionated but collaborative, all in on the Blockparty vision, and just an all round great guy. We appreciate you Matt. You are missed. Rest In Peace.While taking time to remember Matthew, the rest of the team has just otherwise been heads down working.The Blockparty NFT marketplace has made excellent progress. The protocol is functional, NFT creation on testnet looks great and we have started towards the finish line with NFT on-chaining and User Experience. UX is the part that you as a customer or client will interact with, and we want to make sure the “magic happens” when you use the platform. We’re working with an awesome design team to ensure it‘s looks amazing.The ticketing industry is still in the doldrums. You may have noticed that people are heading back into clubs and stadiums around the US and the world. This will not result in any of our ticketing client contracts going live in Q2 2020. However, our ticketing clients are cautiously optimistic and some are scheduling events for late summer and the fall, which of course we will service. We will be demonstrating an NFT product at Elements Music Festival, which appears to be moving forward at the end of September this year.As a company, we’re still playing it conservative and continue to work from home. The COVID numbers are creeping up in Texas, the tri-state area and other states and we’re keeping a close eye on it.The good news is that most industry participants across live events think that 2021 will be one of the best years in live event history. This makes sense — everyone is stuck indoors for most of 2020 and will be keen to get out, dance, spend money, meet people and have a good time. And there will be an added effort from artists and teams to pull out all the stops. They all need to make bank in 2021 to cover the lost year of revenue. The timing frankly works out well for us. Our goal has been to spend the second half of 2020 growing in digital collectibles and art, and then accelerating back into ticketing in 2021. While of course the potential for an explosive live event season in 2021 hinges on COVID-19 being under control, we continue to push forward with our mantra: While we can’t control the input — the outcomes or timeline of COVID-19 — Blockparty’s commitment is to always have 100% control of our output. Thus we are building product, securing deals, and preparing for the possible historic summer season in 2021.Until then, we’re pleased with the clients we’re picking up in the art and collectibles world, and we think we can knock the rest of 2020 out of the park.2. RoadmapIn February, we released our Blockparty 2020 post. It included several key roadmap dates for 1H 2020. In our April Monthly Review, we added a line item to the roadmap. Here is an update of how we’re progressing on each roadmap date:Q2 2020 → Update on token utility and blockchain development — Provided initial update on utility in April. Final update out in JULYWe are still in a legal analysis on the next steps for the token. At the moment, we are comfortable moving forward with two points of utility in the initial release of the marketplace. Once legal review is completed, and the token has been tested within the marketplace, we will provide a more formal update on token utility. We continue to expect this to be ready to share at the time of the launch of the marketplace with two methods for BOXX utility enabled.June 2020 → Launch of Blockparty Marketplace — NOW JULYIn February, we had expected this to be completed by June. We still have a solid month of work to do on user experience for the customer store, token integration and client onboarding. We expect that the marketplace will be launched in July.June 2020 → Blockparty NFT’s — NOW JULYWe continue to build out a brand new never-seen-before NFT product. We’re really excited about this. Numerous clients and blockchain veterans have shown interest in what we’re doing here. We intend to provide a formal product overview of this product in tandem with the launch of Marketplace.3. Product UpdateBlockparty MarketplaceIn the first week of June, Blockparty hit and end point in digital asset marketplace development:NFT supportNFT backendNFT payment confirmationNFT transferNFT withdrawalNFT user wallet integrationOn-chain integrationAs mentioned above, now we’re focused on customer and client UX for the store and dashboard, token integration and some updates to the NFT onboarding and withdrawal process.TokensThank you for your inputs and comments in the DM’s and in the Blockparty Community Telegram channel. We appreciate it. We continue to work on this and will launch new utility at the time of the launch of the Blockparty Marketplace in July. We will provide an update in the June update if possible.4. SalesThe sales team continues to be very busy, talking with sports teams, performing artists, and many other groups. We continue to project that we will be able to offer at least one major exclusive NFT sale per month on the platform during 2H 2020.As indicated in earlier months, many of our discussions are with brands that are predominantly live events oriented . Many globally known live event brands are looking for ways to survive in a world where it is unclear when events can resume. We are lending our voice into that discussion, and how blockchain technology can help fans bring value today for experiences tomorrow.5. Team hires and movesWe are pleased to announce that Owen Fearon has joined the Blockparty Business Development team as a Sales Associate. Owen spent the summer with Blockparty Tickets last year while he was completing his undergraduate degree. He proved his capability shepherding in Blockparty Tickets’ deal with Mugatunes. Owen will be working on sports teams and colleges, two markets we hope to scale into in 2021.We continue to finalize the onboarding of new strategic advisors and team members. We have finalized a high-level team member to work more closely with us on a day to day basis to scale our product in the music business. We will announce their role and initial projects in July. The rest of the team and advisory members are leaders in music and blockchain and will help us scale.Until then, the Blockparty team wishes everyone health and safety during this time.With love,Team Blockparty***Follow us on Twitter to get all the news right away: https://twitter.com/BlockpartyBe sure to read all our stories on Medium over here:https://medium.com/@goBlockpartyDon’t forget to join the unofficial Blockparty Telegram Community channel:https://t.me/BlockpartyCommunity
20. 06. 16
Blockparty Monthly Review —...
Blockparty Monthly Review — April 2020It’s time for the Blockparty Monthly Review #April 2020.In this review, we talk about all the things that happened in the previous month for Blockparty. For anyone wanting to read our previous reviews and posts, you can find them all here.1. OverviewApril is in the books. For Blockparty, and many other businesses, it was the first full month of 100% remote work. We committed effort and maintained focus while so much of the world is in question. The team is currently working in three time zones and in touch constantly through sprint meetings and Slack discussions across sales, operations and engineering.Blockparty team members are often asked about the state of the live events and ticketing industry. What is going on? When will events resume? What will the new normal look like?Our answer is the same as everyone else in the industry: we just don’t know. We continue to speak with clients, from festival owners and sports team executives to performing artists and club owners. Most festivals and performing artists are postponed indefinitely or rescheduled to 2021. Sports teams are planning on what a season in a COVID world looks like, but are largely working on assumptions and projections instead of hard data.While we can’t control the input — the outcomes or timeline of COVID-19 — Blockparty’s commitment is to always have 100% control of our output. In that regard, we are hard at work delivering on our current goal to build a blockchain-based marketplace for non-fungible digital assets. Our marketplace will service all types of NFT’s, from digital art to collectibles, and will eventually enable resale of tickets from the Blockparty Tickets platform.The rationale for a digital asset marketplace is simple — our original focus on tickets saw us enter into conversations with some of the biggest brands in live entertainment. They often didn’t have ticketing business available for us to pitch for, as they were in locked into expensive long-term contracts with players like Ticketmaster or Eventbrite. However, they were fascinated with what we could do for them in other areas of blockchain, whether it was digital collectibles, rewards or a resale marketplace. We had the choice to either listen to what potential clients were telling us, and develop products for market fit, or lose clients. We chose the former. As a result, we have a growing client book for Blockparty NFTs and Digital Assets, while our primary ticketing business continues to grow organically.These clients are now providing us with numerous NFT opportunities. Live entertainment brands need to remain engaged with their fans virtually, while their live events are shut down. Collectibles and rewards are top of mind. To that end, we have been working on creating exciting new NFT products that will help our clients win in this difficult time. We intend to reveal our new NFT products in parallel with the marketplace launch before mid-year.2. RoadmapIn February, we released our Blockparty 2020 post. It included several key roadmap dates for 1H 2020. Here is an update of how we’re progressing on each of those roadmap dates:Q2 2020 → Update on token utility and blockchain developmentWe have provided an update in section 3 below on blockchain development and token utility. We are still preparing the plans for our updates to token utility and expect to be ready to share a formal plan closer to, or at the time of, the launch of the marketplace.June 2020 → Launch of Blockparty MarketplaceWe are excited to report that we are on track with our plans to launch Blockparty Marketplace in the first half of the year. Our team has been hard at work and we are meeting milestones for NFT creation and transfer, dashboard and consumer front-end UX and infrastructure, as described below.June 2020 → Blockparty NFT’sWe are adding this new product goal to the roadmap. We intend to provide a formal product overview of our new NFT’s in tandem with the launch of Blockparty Marketplace.3. Product UpdateBlockparty MarketplaceIn late April, Blockparty hit a major checkpoint in digital asset marketplace development:NFT support and NFT backend for the marketplace are operationalSuccessful demonstration of payment confirmation and subsequent NFT transactions (change in ownership)Demonstrated NFT withdrawal and status changeThat is, a purchaser can pay for an NFT on the marketplace, it can be transferred from original seller to the purchaser, with the transaction recorded on a distributed ledger. And the purchaser is able to withdraw that NFT for personal use. Additionally, UI/UX for the consumer front-end and user dashboard have been designed and are currently in development.Additionally, by the end of May, we expect to have user wallets active as well as the UI/UX to browse and shop for NFT’s on the platform.TokensAs indicated in our February and March updates, we are planning for an upgrade to our token utility for the Blockparty Marketplace. It is intended that our future token model will be based on the following principles:OwnershipOwnership-as-a-utility creates interest in the token while also serving as a reward. As holders own more tokens, it is intended that they receive greater benefits, such as:access to more rights, benefits and assets on the platform; andadditional tokens (staking).Staking on its own is valuable. But in order to provide true utility for token owners, the platform should also offer benefits to holders that are not available to casual users (non-holders). This token model provides benefits based on ownership tiers (similar to airline mile programs). These benefits may include, but are not limited to, exclusive access to high-quality assets sales, preferred access to private sales and no-fee asset custody and delivery. In order for these benefits to be viewed as valuable, we have been laser-focused on securing high-quality sellers to launch exclusive asset sales on the platform throughout 2020, such as sports teams, performing artists and Hollywood studios.2. ContributionFrom 2018-present, Blockparty has enabled BOXX tokens to be utilized in the Blockparty Tickets platform as follows:As an incentive to attract clients to sell event tickets on the platformAs a reward for users who purchase primary tickets on the platform; andAs a reward for those users who promote or refer ticket sales.Our goal was to get tokens in the hands of users who are helping grow adoption of the platform.In line with this original token utility, we still believe that, fundamentally, users should receive tokens for providing value to the platform. For example, for selling or re-selling items, for promoting items and for purchasing items.We intend to consolidate and expand the number of “triggers” that cause a new token to be issued to a user. We expect that our main “contributors” will be digital artists, collectible creators, ticket sellers and other NFT sellers. It could also include communities of sports, music and art fans who may seek to build their own commerce networks on our platform.There are many reasons why these contributors could earn tokens. However, there are several challenges. Firstly, in the words of CTO Joseph Fiscella “the challenge is proving that work was done”. The second challenge is ensuring that the work is accretive to the token economy, ie. not merely a giveaway.We view this challenge as an opportunity to do something unique and innovative: algorithmically measure the value that users bring into a marketplace and incentivize them to continue to do so.Our tasks for May includes defining the triggers and rules that could result in the emission of a “contribution token”, finalizing whether the decision will be made on whether token emissions should be programmatic or voter based, and commencing our build out of either the voter or programmatic model. We seek to strike a balance — on the one hand, we seek to enable communities to contribute to the rules of how to measure and reward value creation in a decentralized manner. On the other hand, we may need to program reward rules to eliminate the potential for network attacks by clusters of rogue voters.3. DiscountsDiscounts are a relatively low intensity and rewarding way for token holders to benefit. We intend to offer this utility primarily for the benefit of casual users to easily spend tokens on discounts, without needing to accumulate or be long-term token owners.As we finalize our upgraded token utility plan, we welcome community suggestions, opinions and discussion around these topics. Please join the unofficial BOXX telegram community to get involved. CTO Joseph Fiscella, CEO Vladislav Ginzburg and CPO Shiv Madan make themselves available from time to time to chime in and answer questions.Blockparty TicketsWhile it has been extremely slow going for the Blockparty Tickets platform amidst COVID-19, we continue to support the primary ticketing platform so it’s ready for events when they do return. We are currently upgrading functionality to support virtual events, which have become popular recently.4. SalesThe sales team has had a very busy April. While live events are postponed indefinitely or cancelled around the world, the brands operating the events are increasingly curious about the power of NFT’s and collectibles to help drive revenue through this time of uncertainty. Our team is pleased to be engaged in many advanced discussions with US sports teams and leagues, performing artists and artist management groups, film studios, music festivals, venues and events, and well known artists. At this stage, we are targeting to be able to offer at least one major exclusive NFT sale per month on the platform during 2H 2020.As indicated above, many of our discussions are with brands that are predominantly live events oriented . Many globally known live event brands are looking for ways to survive in a world where it is unclear when events can resume. We are lending our voice into that discussion, and how blockchain technology can help fans bring value today for experiences tomorrow.5. Team hires and movesBlockparty is eagerly finalizing the continuation of certain current strategic advisors and the addition of an additional advisor. These advisory relationships will be focused on the product and strategy areas of our music and rewards business. We are eagerly awaiting these contracts to be finalized so we can announce additions to our team this month.Until then, the Blockparty team wishes everyone safety and health during this time.With love,Team Blockparty***Follow us on Twitter to get all the news right away: https://twitter.com/BlockpartyBe sure to read all our stories on Medium over here:https://medium.com/@goBlockpartyDon’t forget to join the unofficial Blockparty Telegram Community channel:https://t.me/BlockpartyCommunity
20. 05. 05
Blockparty Monthly Review —...
Blockparty Monthly Review — March 2020It’s time for the Blockparty Monthly Review #March 2020.In this Review, we talk about all the things that happened in the previous month for Blockparty. For anyone wanting to read our previous reviews and posts, you can find them all here.1. OverviewIt has been a devastating month globally. COVID-19 has taken over the world’s consciousness with cases recorded in 194 countries at the time of this writing. In the US, state governors have implemented social distancing requirements in many states including California and the TriState area where Blockparty teams are located. The number of reported cases as of March 26th was 85,486, topping the total cases in China for the first time.As quarantine and social distancing guidelines have taken effect, the live events sector has been decimated. Illustrative of the situation, Live Nation stock dropped a massive 50%+ (NYSE:LYV dropped from $74 to 34 in the month from February 17th to March 16th, 2020).All events, venues and sports teams we talk to and work with have cancelled or postponed all events. And they’re closed for business until further notice.The livelihoods of many workers, from touring managers to stagehands and bartenders are in grave danger. Our thoughts are with them in this time of uncertainty.At Blockparty, we have been in close conversation with many of our clients, potential clients and partners in the music, sports, festival and conference space about their plans, challenges and next steps. Some of the key pieces of feedback we have received:Summer looks to be a wash. The earliest reschedule for live events we’ve heard being considered is for August. The majority of our clients and partners are looking at September and October datesLive events are postponed indefinitely. A venue client is pushing back their grand opening indefinitely. They are however expecting a rush of talent to be available for hire when they do.Musicians have had tours cancelled or postponed and are in limbo. Some are in the studio and others are live-streaming their performances.At Blockparty, we are devastated about the loss of lives and challenges everyone is all going through in this difficult time.We are however relieved to report that everyone on our team is so far healthy and safe while sheltering in place. Our company transitioned to a fully remote work environment on Friday March 6th, and have remained productive since. In the final quarter of 2019, the Blockparty team transitioned to agile methodology across engineering, product, sales and finance/admin. We not only saw a productivity boost that helped us achieve our January and February goals, but the transition had an unintended benefit of preparing our team well for the change to remote work. We have maintained our productivity levels and continue to meet our product and engineering goals.Sales and business development have slowed in the month of March as businesses ground to a halt. We are continuing to work on business development efforts remotely, with an eye towards engaging in live event business in second half 2020, instead of May as was our plan at the outset of the year. As we reconsider our business goals in this new reality, we remain positive that we will overcome and step up to the challenge.Given the challenges in the live event sector, we are glad to have broadened our scope beyond live events, and towards the broader digital assets sector. Digital assets create the opportunities for our live events clients to continue to interact with their audiences, even as they stay at home. Many of our client conversations have centered around finding ways for our clients to utilize digital assets such as collectibles to continue to engage and generate revenue.2. AnnouncementsDigital Collectibles — Accelerated LaunchWe are pleased to report that we are accelerating the launch of our Digital Collectibles vertical. We are in advanced discussions with a number of game producers, Hollywood studios, sports teams and leagues, and major artists to launch exclusive digital collectibles on the platform throughout 2020/2021.New York Exclusive Venue Contract — UpdateAs mentioned in last month’s update. Blockparty announced an exclusive venue partnership for an NYC nightlife venue opening in Spring 2020, set to become one of Manhattan’s hottest new clubs. Tickets for the May 2nd opening event had been scheduled to go on sale in mid-March. In light of the COVID outbreak, the opening is delayed and uncertain. We are still a proud partner of the venue and are ready to deliver ticketing when it’s safe to open.3. RoadmapIn February, we released our Blockparty 2020 post. It included several key roadmap dates for 1H 2020. Here is an update of how we’re progressing on each of those roadmap dates:Q2 2020 → Formal announcement and launch of an Exclusive Venue Contract with a New York based nightlife venue.See above. This launch has been unofficially delayed until the summer but it is as yet uncertain given the impact and potential extension of the COVID-19 related closuresQ2 2020 → Update on token utility and blockchain developmentWe continue to work on this and remain on track. We have refined our timeline — we will be providing our formal update by May 1st. We are very pleased with the progress and the potential of our token plans.June 2020 → Launch of Blockparty MarketplaceWe continue to work on this and are tracking well towards a launch in June 2020.You can read the full Blockparty 2020 post here.4. Team hires and movesDespite the economic slowdown, we continue to look for great talent. We’re interested in product designers, blockchain engineers and salespeople. Please feel free to reach out if you fit the bill or know someone who might!We are also working out the final details of a contract for a new board advisor that we are eager to announce publicly. This is a new member of the Blockparty team that brings years of expertise at the intersection of entertainment and tech, with C-suite level experience at a publicly traded company. We look forward to welcoming them publicly once the ink is dry.That’s it for now. Stay safe!Team Blockparty***Follow us on Twitter to get all the news right away: https://twitter.com/BlockpartyBe sure to read all our stories on Medium over here:https://medium.com/@goBlockpartyDon’t forget to join the unofficial Blockparty Telegram Community channel:https://t.me/BlockpartyCommunity
20. 04. 01
Blockparty Monthly Review —...
Blockparty Monthly Review — Feb 2020It’s time for the Blockparty Monthly Review #Feb 2020.In this Review, we talk about all the things that happened previous month for Blockparty. For anyone wanting to read our previous reviews and posts, you can find them all here.1. RoadmapLast week we released our Blockparty 2019 annual review and 2020 year ahead post. We included multiple key dates:Q2 2020 → Formal announcement and launch of an Exclusive Venue Contract with a New York based nightlife venueQ2 2020 → Update on token utility and blockchain developmentJune 2020 → Launch of Blockparty MarketplaceYou can read the full post here.2. Development updateThe Blockparty 2020 post also included some key updates on non-core and blockchain core development.LeadershipWe are pleased to announce that Joey Fiscella has been promoted to CTO. It comes at a time where Blockparty is heavily gearing up its blockchain and token development. Joey joined from Galaxy Digital Assets in October 2019 and is also the Founder and Lead Developer of FLO Blockchain.TicketingBlockparty will be launching an Exclusive Venue Contract for a New York nightlife group in Q2 2020. Members of our engineering team are gearing up to ensure that our existing platform is able to handle the high-frequency ticket volume we expect this contract will produce.Digital Asset MarketplaceBlockparty is in development of a Digital Asset Marketplace. Blockparty Marketplace will enable the purchase, sale and transfer of non-fungible digital assets — commencing with Digital Art, and eventually migrating ticketing contracts into the marketplace. Digital collectibles and game assets will follow the ticketing integration.3. CEO of Blockparty on TelegramLast week the newly appointed CEO of Blockparty, Vladislav Ginzburg, took the time to be online on Telegram with the Blockparty community. He answered questions about the Blockparty 2020 roadmap and shared multiple exciting things with the community.On Ticketing“Once the marketplace is live, we will migrate the primary ticketing into the marketplace”On Token Utility“We plan to deliver utility that is more in line with a marketplace platform”On Team Moves“.. Joey Fiscella has taken on the CTO role… it has been an absolute game changer internally and I expect that you will see it externally before too long”4. MarketingTwitterThis week, Blockparty reported that it had been provided the @Blockparty handle on Twitter. Make sure you’re following us at twitter.com/Blockparty!NFT.NYCWe took time out from building to connect with the NFT community at NFT.NYC, the world’s premier NFT conference. Vlad, Shiv and Ian met with our friends from the NBA, Unikrn, Dapper Labs, Neon District, Republic, ConsenSys and other game producers and digital collectible developers. The conference was vibrant and well attended, and included some very interested folks from big corporate like Microsoft.5. Team hires and movesWe welcome Matt Davis to our engineering team in Los Angeles. Matt will be working on back end engineering, DevOps and API development. He has been proving his technical chops on testing the Blockparty Tickets platform.Throughout the year, we plan to hire additional team members for product design, engineering, sales and client success. Please feel free to reach out if you fit the bill or know someone who might!That’s it for now. All the best to everyone!Team Blockparty***Follow us on Twitter to get all the news right away: https://twitter.com/BlockpartyBe sure to read all our stories on Medium over here:https://medium.com/@goBlockpartyDon’t forget to join the unofficial Blockparty Telegram Community channel:https://t.me/BlockpartyCommunity
20. 02. 28
Blockparty | 2020
The Year Ahead + The 2019 Year In ReviewOverviewFounded in 2017, Blockparty Tickets was designed to utilize blockchain technology to eliminate common frustrations with the current ticket purchasing experience. Since its launch in May 2018, Blockparty Tickets has worked with clients in the music, sports, art and conferences verticals to mitigate ticket fraud, lengthy event check-in protocols and predatory secondary resellers.Blockparty Group closed out 2019 with an Exclusive Venue Contract for a New York nightlife venue and a fan reward token built for the Sacramento Kings. 2020 will see Blockparty Group continue to utilize its ticketing subsidiary while further expanding into other NFT (non-fungible token) assets such as digital art and reward points. It will also launch an updated NFT protocol and smart contracts, along with related token utility.DevelopmentTicketingIn 2019, Blockparty Tickets won and executed numerous ticketing deals. Our focus was on blockchain conferences, music events, art events and nightclubs. We ticketed conferences including Crypto Invest Summit, CoinAgenda, World Crypto Con, Blockchain Cleveland, Litecoin Summit, Chainwise Conference and Road to Consensus. We ticketed music festivals, concerts and tours and art fairs like Best Life Festival, Mugatunes, 3LAU, Elements and CADAF. We sold tickets and tables at Tao, Up and Down, LIV, Marquee and other venues.In January 2020, Blockparty Group secured its first large exclusive venue contract (EVC). The contract is with a multi-venue New York based nightlife group. The deal provides for +$1.5MM in annual gross transaction value for a first venue, plus the opportunity to work on ticketing for additional venues with the group. The details of this deal will be disclosed closer to the deal launch in Q2 2020.Digital Asset MarketplaceBlockparty Group is expanding and will launch a Digital Asset Marketplace. Blockparty Marketplace will enable the purchase, sale and transfer of non-fungible tokens from digital art and reward points to event tickets, collectibles and in-game assets. Our clients, such as the Sacramento Kings, have provided valuable feedback to support this conclusion. Clients have continued to show excitement about what we could do with reward points, crypto collectibles and digital art. We believe that there is a significant opportunity and market gap to become a world leading marketplace for users to buy, sell and exchange non-fungible digital assets.Blockparty Marketplace is in development. We are currently adding design and marketplace features, reward tiers and discount functionality, NFT (non-fungible token) capabilities and additional smart contracts. We have been building steadily over the past few months and we intend to launch in or before June 2020. Our intention is to launch with a focus on Digital Art, commencing with the launch of a major exclusive high value portfolio. Eventually we expect that Blockparty Marketplace will include the ability to sell and resell NFT tickets. Blockparty Tickets will continue to operate its existing platform through 2020.Blockchain and Token DevelopmentWith the hiring of Joey Fiscella, Blockparty Group has vastly accelerated its blockchain development. We have built NFT infrastructure, reward tokens, new smart contracts and related API’s. These features are planned to be launched in Blockparty Marketplace. Our new team has also developed a more simplified and powerful token utility for Blockparty Marketplace. We intend to provide a detailed update in Q2 2020 on token utility as part of our Marketplace launch.Blockparty Marketplace is designed to ensure a high degree of decentralization. Digital assets may be owned and transferred to decentralized wallets. Aspects of the Protocol will be open sourced to enable third party NFT applications. We intend to encourage third party development at the Protocol and application layer via hackathons and development bounties. It will continue to operate on the Ethereum network to attract volume from NFT issuers and other marketplaces.The Marketplace will continue to offer fiat payments and custodial wallets. We found that the majority of potential ticket buyers were unfamiliar with cryptocurrencies. We expect to attract interest from the mainstream art world and need to offer them fiat payment capability.TeamBlockparty Group is pleased to report the following team updates:Shiv Madan, Chief Product Officer. Shiv took over the role of CTO in September and has spent the past 6 months running non-core engineering. He has been responsible for hiring engineers, implementing and running Agile, leading non-core development, re-designing our product roadmap and shipping new products to clients. Shiv will continue this work while also building and launching new applications on the Protocol.Vladislav Ginzburg, Chief Executive Officer. Vlad will assume the CEO role to manage operations and client relationships. Vlad has built relationships across ticketing and rewards and understands the pulse of the industry. Importantly, as we launch our digital art vertical, Vlad’s experience and relationships in the art world is expected to lead Blockparty Marketplace to rapid growth.Joey Fiscella, Chief Technology Officer. Joey joined from Galaxy Digital Assets. He also served as Founder & Lead Developer of FLO Blockchain. Joey has enabled Blockparty to quickly build new blockchain technology while also garnering the confidence of our team and clients. As CTO, Joey will continue to lead core-engineering and implement our decentralization strategy.Vladislav Ginzburg, Shiv Madan & Joey Fiscella
20. 02. 18
Blockparty Month in Review:...
Welcome to the Blockparty’s October Month in Review. October was a month of exciting announcements in business development and fan engagement. We also had our biggest announcement of the year, read on to see what was our big reveal.This is a re-post of the original blog post on our site: https://goblockparty.com/news/post/october-2019-month-in-review?utm_source=blockpartysite&utm_medium=social&utm_campaign=octMIRBusiness DevelopmentBlockparty is proud to announce our partnership with the NBA’s Sacramento Kings to launch ‘Kings Token’ the @NBA’s first blockchain-based rewards program.The Kings are the first NBA team to implement a reward program based on blockchain technology. This is Blockparty’s first partnership in professional sports. This partnership will enhance fan engagement and pave the way for broader application of blockchain technology at Golden 1 Center.Many thanks to Nathan DiCamillo at Coindesk for his write up and exclusive on this announcement. Click here to read.In the initial test phase, the Kings token will be a discrete custodial non-exchange-tradable token pool to comply with US regulation. In order to limit any initial friction during the test phase, it will not require the usage of the BOXX token. These limited features enable the Kings token utility to be quickly integrated into the Kings ecosystem. Once the test program is completed, it is expected that BOXX tokens will be integrated in a frictionless manner to enable the Kings to access Blockparty’s entire blockchain protocol functionality. More details on this test phase will be released as we get into the NBA season.Festival/ Tour TicketingWe’re excited to announce the second edition of the Best Life Music Festival! This will take place in Miami at the end of Art Basel week, on Sunday, December 8th.More information on tickets and performers can be found here and here.More information will be released in the days and weeks to come. We look forward to this event as an end cap to an always epic time at Art Basel Miami Beach.ConferencesOctober was busy for crypto and Fintech conferences. The beginning of October saw the second annual Voice of Blockchain conference in Chicago, IL.Shoutout to Disruption Joe for putting on a great event and making everyone feel at home in the Windy City.The week of October 15 saw part of our team venture West to represent Blockparty at the Crypto Invest Summit (CIS) in Los Angeles, CA. Our COO, Vlad Ginzburg spoke on the “Ownership and Monetization of Data & Content on Decentralized Networks” panel, on behalf of Shiv Madan.To close out October, much of crypto Twitter (CT) descended on Las Vegas to attend the World Crypto Conference. Our partners at Evolv Events put on an incredible event full of everything that makes Vegas, well, Vegas. Great job.Tech RolloutOur team has pushed the Blockparty Promoter & Ambassador app into Beta testing. We are getting some good feedback and will launch real-world testing in select markets very soon. More info on this will be coming next month. If you are a club, concert promoter, or know someone who is, please reach out to our team for more information on this app.We are also pleased to announce Joey Fiscella has joined the Blockparty as Vice President and Lead Blockchain Developer. Welcome to the party!We have a lot that we’re working on and we can’t wait to share it in the weeks and months to come. Until then, remember that anyone can use the Blockparty platform to host events. Just contact any member of our team and come join the party.—Meet Blockparty.We are revolutionizing event ticketing with a platform that leverages blockchain and smart contract technology to eliminate fake tickets, unfair secondary market pricing and scalpers & bots. Payments for our events are available in USD or Crypto including Bitcoin ($BTC), Ethereum ($ETH), LiteCoin ($LTE), & Bitcoin Cash ($BCH).
19. 11. 07
Blockparty 2018: The Year i...
Blockparty: 2018, The Year in ReviewBlockparty staked a claim as the leader in blockchain ticketing.Image: Blockparty’s “Best Life Music Festival”, Miami, FL, September 15th, 2018 — the first ever music festival with end-to-end blockchain — 4,000 attendees, co-produced with SWARM, WRLD and MYAMI Music.“We are vehemently opposed to the unethical practices that occur in the secondary market. We have written to each of our partners, be them promoters, venues or ticketing companies detailing the way in which we expect tickets to be sold: direct to fans.”— Ed Sheeran, 2018The live events industry is broken: fake tickets, unfair prices, bots, scalpers and empty venues. 2018 saw trouble brewing with class action law suits against ticketing companies, secondary ticketing banned in the UK and artists revolting against predatory ticketing practices. The industry needs to push its technology forward. Blockparty was founded in 2017 by a passionate team of crypto, blockchain and live events entrepreneurs and technologists with the mission to solve these challenges with blockchain and cryptocurrency.1. Blockparty Took 2018 By StormFresh after raising its seed round in December 2017, team Blockparty tasked itself with four mammoth goals: (1) build a robust ticketing protocol, web platform and mobile apps in 5 months, in time for the 2018 summer music festival season; (2) launch a fully functioning utility token; (3) execute ticketing and tokenization at music festivals; and (4) exponentially grow the Blockparty brand. We’re proud to say that we achieved what we set out to do.Our Greatest HitsEnd-March — Successful private alpha launch of the Blockparty protocol and iOS app at Ultra Music Festival 2018, MiamiMay 15 — Launch party for 500 attendees during Consensus NYC with entry via a Blockparty blockchain ticketing web app — with performances by Playboi Carti, A-Trak, James Murphy and Topaz JonesEnd-May — Full token utility at 6,000 attendee Elements Lakewood Music Festival, Pennsylvania, and BOXX token distribution soon afterSep 15 — Co-produced and ticketed Best Life Music Festival in Miami, attended by 4,000 — the first ever music festival with end-to-end blockchain — headlined by chart topping R&B artists Ella Mai and H.E.R.Aug-Dec — Ticketed many music festivals and events, and crypto conferences and meetups — for partners such as Elements and Hyperglowhttps://medium.com/media/c084a33a51a73ac150729ae349572459/href2. Under the HoodBlockparty’s technology has leapfrogged the competition.Using a combination of digital identity (encrypted biometrics), non-fungible tokens (that represent tickets — which are multivariate and complex), and on/off chain and batch processing, we built a robust system that enables event producers, venues, performers, fans and ticketing companies to interact fairly, securely and effectively in both primary and secondary ticket markets.Blockparty offers what no other ticketing company has been able to achieve to date — a fraud-proof, seamlessly integrated primary and secondary ticketing platform.Digital IdentityAt the center of the Blockparty Protocol is digital identity — specifically, encrypted biometrics, i.e. anonymized fingerprint and facial recognition scanning. This digital identity “key” enables the transferable proof of title of a ticket from the primary market to, and within, the secondary market. Our tickets can be stored on mobile devices and unlocked with the digital key, and we can also implement encrypted biometrics directly as tickets at the gate.Image: Blockparty’s web dashboard and mobile app — “Check out the big brain on Brad”NFT + Fungible Token IntegrationTickets are complex with characteristics that are often non-fungible— e.g. for seated arenas, or different levels of access (VIP, GA, underage, drinking age, etc). In the Blockparty Protocol, non-fungible tokens (NFT’s) represent tickets. In order for our NFT tickets to not bog down the Ethereum network (as CryptoKitties NFT’s did in Dec-2017), Blockparty has seamlessly linked the NFT tickets (ERC-721’s) with the native BOXX tokens (ERC-20) such that the ERC-20’s act as the transaction mechanism for the ERC-721's, the ERC-721 tickets only contain immutable crucial ticket information, and other data remains in the metadata layer (limiting risk/exposure to Ethereum network speeds and transaction gas). Read more about how it works here.High Speed TransactionsEvent tickets often sell like hot cakes. It’s not unreasonable for 50,000 tickets to sell out minutes — even without bots. Out of necessity, Blockparty protocol includes on/off chain and batch processing to enable fast transactions and low gas fees. It is able to transact tickets at 400 per second on the Ethereum blockchain (double Paypal’s transactions per second). We have not focused so much on transaction speeds beyond this point, as it has not been necessary for our ticketing use case but we believe it could be increased dramatically.3. On the GroundTicketsBlockparty sold north of 10,000 ERC-721 tickets in the 6 months since launch for over $250,000 in revenue. Events included both ticket allocations as well as entire ticketing for events. We ticketed music festivals, venues and music events, crypto conferences and meetups. We have indicatively contracted over 100,000 tickets for 2019 so far with many more in process, putting us on a trajectory to hit our minimum threshold of 1 million tickets by end 2019.Our self-produced 4,000 person event, “Best Life Music Festival” served as a great test of our end-to-end blockchain capabilities on a large stage. We delivered primary and secondary ticketing, and token rewards programs. We were pleased with the performance of our primary ticketing and secondary ticketing transfer system, as well as high speed ticket processing at the gate. User feedback was very positive. We continue to enhance the platform.TokenizationNaysayers question the need for tokenization in event ticketing. Here’s why Blockparty believes they’re wrong: a good blockchain solution should be able to disable bots and scalpers from re-selling tickets at massive markups. The result is that there is a lesser incentive for these bad actors to participate in event ticketing. The challenge though is that event producers rely on these bots and scalpers (and their backers) to buy up tickets in advance —by paying money upfront for tickets, bots and scalpers act as a hedge for the event producer’s financial risk (i.e. the risk of not breaking even). If event producers can’t benefit from this hedge, there is an event financing shortfall. In short, fans lose, event producers break even, and bots/scalpers make all the money.Blockchain ticketing creates a new economic paradigm where there is a lesser financial hedge provided to event producers by scalpers and bots. The only solution is to sell events out quicker, which can be most easily achieved with tokenized incentives for fans to purchase tickets. That is: tokenization fills the void left by disincentivized bad actors, while helping event producers fill out shows. 1:0 for crypto.With that in mind, we focused our tokenization efforts in 2018 on fan reward programs that incentivize demand — to build a solid case study for event producers to join the protocol in 2019. For Best Life festival, we launched a successful fan rewards program that rewarded event promoters and ticket re-sellers with tokens for promoting the festival and selling tickets. Token rewards were customizable — in this case, they were usable for future event discounts and VIP upgrades. It was an effective tool to encourage sales and we received a great response from promoters who were looking for attractive incentives to justify their focus on promoting Best Life instead of other events.In 2019, we’ll activate the second part of this equation — engaging with Sponsors/Venues/Event Producers/Teams/Artists to stake BOXX tokens to participate in event tokenization. We anticipate that these participants will pay event goers with tokens for promoting events, buying tickets, bringing friends, participating in research and sharing user data. As an incentive to participate, Blockparty Protocol will execute token allocations to partners such as music festivals, artists, teams and venues based on projected usage. The dual benefit of this program is that it may (partly) replace advances that are typically offered with ticketing contracts.Aside from being an incentivization tool, BOXX tokens are utilized under the hood as a mechanism to enable NFT transactions. Whenever a ticket (an NFT) is sold, re-sold or transferred, an equivalent BOXX token is transacted on the main-net, whether the ticket is purchased in crypto or fiat. i.e. BOXX token usage grows in line with ticket sales.Image: One of the token programs we launched to promote tickets within the crypto community4. Making NoiseSince launch, we made brand building a priority.Our marketing approach is bifurcated — it reaches both the crypto community and the mainstream live events industry. We found that the crypto community is mostly enthusiastic about our product and appreciates that blockchain and cryptocurrencies are being used at scale in a consumer environment. The live events industry is cautious about blockchain and comfortable with incumbent systems’ shortfalls — but on the whole recognize the need for improvements and appreciate some of blockchain’s use cases, such as being able to earn a share of secondary ticket sales, and incentivizing ticket sales with tokens.We wholeheartedly believe that blockchain adds efficiency and value to each stakeholder in the live events industry and we intend to continue educating everyone from fans to vendors to sponsors and event producers about how that is possible and how Blockparty can help make it a reality.Press & MediaThe great work by our awesome team at Wachsman PR continues to result in Blockparty earning placement in major publications and channels such as Yahoo Finance, Nasdaq, Cheddar, Fast Company, Coindesk and Coinjournal.Here’s some of the major media placements we received in 2018:Cheddar: https://cheddar.com/videos/how-blockparty-is-applying-blockchain-to-concert-tixFast Company: https://www.fastcompany.com/40589798/this-music-festival-will-be-ticketed-entirely-through-blockchainNasdaq: https://www.youtube.com/watch?v=tzZ-JiunY3wYahoo Finance: https://finance.yahoo.com/video/blockparty-crypto-tickets-183728643.htmlCoindesk: https://www.coindesk.com/its-time-to-talk-about-crypto-twitterMic.com: https://mic.com/articles/190980/mic-dispatch-episode-13-hip-hop-and-cryptocurrency-the-problem-with-minimum-wage#.ZpIon7hUwCoinjournal: https://coinjournal.net/blockparty-bring-blockchain-to-even-ticketing-transforming-global-live-event-industry/CTO Rikesh talks cryptocurrency on NASDAQ TV: https://www.youtube.com/watch?v=W3FR0QhB0BwConferencesWe have seen great results from speaking at blockchain and live events industry conferences — attracting potential partners and investors while creating general awareness and social content. In 2018, some of our talks and panel appearances included Distributed, Crypto Invest Summit, Blockchain Expo, X-Live, Mondofest, Fest Forums and World Ticketing Conference.In Q1/2 2019, you can find us speaking here:January 17 — North American Bitcoin Conference, Miami (Shiv, speaking)February 11 — Pollstar Live, Los Angeles (Vlad, panel)March 13 — Token 2049, Hong Kong (Shiv, panel)April 8 — Crypto Invest Summit, Los Angeles (Shiv, panel)CEO Shiv’s talk at Distributed 2018 (@35.1 mins): https://www.youtube.com/watch?v=6rDtHO182wwSocial & CommunityWe have been gaining traction with the broader crypto community (i.e. beyond our initial holders). We have mainly focused on Twitter, Telegram and Youtube as well as being part of crypto podcasts. Our “On the Block” Youtube series has been receiving great reviews and thousands of hits per video — it is intended to interview crypto and music industry folk, both in our office and at events we ticket. We’ve had the fortune of having awesome interviews, from Bitcoin Bella and Crypto Shill Nye to R&B star Arin Ray.https://medium.com/media/7730851e6a86c6209936a440ea416161/hrefCheck out some of the awesome crypto shows we’ve been a part of recently:Bitcoin Bravado — https://www.youtube.com/watch?v=lZwBt_ol91gICO Alert at 30:00— https://www.youtube.com/watch?v=V55AmGgV4_IREKT Podcast — https://www.youtube.com/watch?v=tgm8NxaTY5ASo What’s Up For 2019Our opportunity set for 2019 is stacked. We spent Q4 2018 working hard on building a great ticketing pipeline spanning music, sports, art and conferences. We’ll be growing Blockparty’s ticketing presence at nightlife venues and music festivals, in sporting arenas, at crypto conferences, with recording artists, on cruises and at art and food fairs. On the tech side, we will be heavily application focused, building front-end to bring our thick tech stack of blockchain and cryptocurrency capabilities to the forefront — such as fan membership programs and reward programs.We’ll also be working closely with other cryptocurrencies and token projects— through live events, we have created a pathway for tokens to gain access to the mainstream in a fun and friendly environment, and we’re passionate about helping facilitate broader crypto adoption through our platform — from streaming to VR, payment gateways, wallets and other applications.Join us on our mission to fix your weekend. Learn more and get in touch with us at www.goblockparty.com.Onwards and upwards!Team Blockparty
19. 01. 01
How To Run A Blockchain Mus...
By Shiv Madan, Co-Founder at BlockpartyTl:dr: Event owners, connect with us here to use the Blockparty platform for your next event — to ticket, finance, connect with sponsors, and engage with attendees.On September 15, 2018, Blockparty will co-produce America’s first music festival entirely on blockchain.In Miami, ‘Best Life Music Festival’ will feature 2018 chart-topping R&B artists H.E.R. and Ella Mai alongside hot up-and-comers Snoh Aalegra, R.LUM.R + more. This year’s festival will utilize end-to-end blockchain for primary ticketing and ticket resale, as well as for fan engagement, influencer rewards, sponsorships and payment integration. As the Blockparty platform moves towards decentralization, we thought we’d write a guide on how to throw your own blockchain festival.https://medium.com/media/fcdb814785e41830f4b173e84b95bb04/hrefWhy blockchain?Why run a festival on blockchain? Simply put, blockchain is a better system for accounting, data management and transactions between trustless parties. And music festivals have more than their fair share of challenges with accounting, data and trust. Fake tickets. Bots. Scalpers. Unfair resale prices. Finding sponsors. Connecting with fans. Collecting revenue. The list goes on.The goal of applying blockchain technology to festivals is to dramatically improve the fan experience while making operations and revenue generation more effective for event operators, venues and artists.What is blockchain?Let’s start with the basics. Originally launched in 2009 as the underlying technology of cryptocurrency, blockchain enables parties to transact directly with each other without having to trust one another, or any other third party. It is ‘distributed’, meaning that no single party controls all of the information contained in the ledger. And it uses encryption to maintain user privacy.The system is forward-moving and immutable, where the rules of engagement between transacting parties are set in the first “block”, and each subsequent transaction is recorded in subsequent blocks in the “chain.” Cryptocurrency is a reward and payment mechanism that sits atop a public, permissionless blockchain that encourages cooperation between the parties.How is Blockparty’s blockchain fixing ticketing ?The Blockparty blockchain provides the infrastructure to enable any digital asset marketplace, like event tickets, airline tickets, digital music, art etc. It is based on two core technologies that enable fraud proof digital ownership and high frequency digital asset transfers: Quantum Protocols and Digital Identity.Quantum ProtocolsBlockparty has built a unique integration of two smart contracts that are both necessary for a scalable ticketing platform. We call it the “Quantum Protocol”.Blockparty’s “Quantum Protocol” seamlessly combines ERC-721 non-fungible tokens with ERC-20 fungible tokens that together enable high-frequency transactions of non-fungible digital assets, such as event tickets.Let’s break it down. ERC-721 tokens are an untapped resource in the Ethereum protocol. The most well-known project to use them so far is CryptoKitties, which allows users to buy, sell and breed digital kitties, each with unique attributes. This is possible because ERC-721’s allow each individual contract to have different characteristics. This is unlike ERC-20 tokens that, like a currency, do not allow for variability.CryptoKitties was a breakthrough step in the evolution of non-fungible digital assets, but their complexity severely bogged down the Ethereum network as the demand for CryptoKitties grew. It demonstrated that, while highly useful, ERC-721 contracts alone aren’t optimal for the trading of high frequency non-fungible digital assets, like tickets, digital music and computer game assets.Enter ERC-20 tokens. Blockparty’s native ERC-20 tokens (BOXX), are fully fungible into the ERC-721 tokens that represent event tickets in the Blockparty system.ERC-721 tokens can store a large amount of data, and can be programmed with self-executing rules. When a fan buys a ticket using Blockparty, a new ERC-721 token will be created, encoded with the buyer’s encrypted identity and a smart contract defining the rules for transferring the ticket.Users can purchase tickets with fiat currency or with BOXX tokens. BOXX tokens can be purchased with fiat currency, or they can be earned through loyalty activities within the app, described in the next section.To protect the system from failure or corruption, the two types of tokens are combined together with a trustless consensus protocol (an Oracle). The ERC-721 tokens can’t be duplicated, erased, or changed without the consensus of the whole system, and the ERC-20 tokens can’t be double-spent.We’ve explained this proprietary system in more detail here.Digital IdentitySome of the major challenges with ticketing stem from the inability to track a ticket after it has been resold. Either the event prohibits the transfer of a ticket, which means only the original buyer can use it, or the event allows the ticket transfer, which means the original buyer can resell the ticket on a reseller site such as Stuhhub or Viagogo.In the case of the former, while this works some of the time, there are usually situations in which a ticket buyer can no longer attend and it’s unfair not to allow them to resell the ticket. In the case of the latter, the risks in allowing a ticket buyer to resell a ticket are enormous. For instance, a ticket buyer could be a bot run by a scalper, and the scalper may buy tickets in bulk and resell them at drastic mark ups. The identity of the final purchaser is usually not known, which can pose a security threat for the event. It also makes it almost impossible for event operators to gather customer data or track attendees.Blockparty solves these problems by attaching the buyer’s digital identity to the ticket. When a fan buys a ticket, they must do so by registering on the Blockparty app, by either scanning their fingerprint or their face (using the technology available on their smartphone). This digital identity data is then encrypted before it is registered on the Blockparty blockchain, so the buyer’s data is protected, but the event operator still maintains an anonymized record of the ticket’s owner. If the buyer needs to transfer or sell the ticket, they can do so through an SMS ticket transfer function on the app, similar to Venmo. In the transfer process, the ticket de-attaches the original buyer’s digital identity and attaches to the new buyer’s identity.To enter the festival, the rightful owner of the ticket will need to access the ticket on their phone by either scanning their fingerprint or face to enter the Blockparty app and reveal the ticket’s QR code. The ticket has a moving application on the screen that prevents fake ticket screenshots from passing gate security. Once the ticket is accessed, the QR code is scanned by the enterprise scanning device at the gate. The QR code information contains both the ticket identification information (the ERC-721 data) and the user’s digital identity.Now let’s walk through the fan and artist experience before, during, and after a festival to see how blockchain improves the experience for fans, artists, vendors, and operators.Before the festivalThe fan’s experience starts with ticketing, so that’s the first place blockchain will show up.In the live events industry, the cards are stacked against the average fan. To get tickets to an event, they have to deal with fake tickets, bots, scalpers, and unfair prices. Ticketing is broken.Until now, it’s been “business as usual” for bots and scalpers and insiders to grab up to two-thirds of the tickets for a popular show as soon as — or even before — it goes on sale to the public. Many of these tickets land on reseller sites minutes after the show sells out, at prices sometimes 10 times as high as face value. Scalpers stand outside an event, selling tickets which are often fake. The technology that powers online ticketing hasn’t changed much in the last 20 years. It’s still a simple online marketplace and with an easy-to-hack captcha form to prove you’re a human.How to buy a ticketA ticket buyer can purchase up to 8 tickets on a web browser at bestlifefest.com or by using the Blockparty app. The app is free to download and is available on the Apple App Store or Google Playstore.The ticket itself can only be accessed using the Blockparty app. This is so that Blockparty’s mobile-based digital identity technology can be employed at the gate to verify the owner of the ticket. Ticket buyers who purchase using a web browser receive a referral code that is entered into the app to redeem the ticket.When you create an account on the Blockparty app, you must scan your fingerprint or use your facial recognition scan. You’ll have to scan your fingerprint or face every time you open the app — whether you want to purchase new tickets, transfer tickets, or show your ticket at the gate.The purpose is to ensure that you are the only person able to access your ticket, and that the ticket has been purchased by a verified user.Next, you’ll select the event and type of ticket you want in the Blockparty marketplace, and purchase it using either fiat currency or BOXX. You can connect a credit card to the app to purchase directly in fiat, or you could use your credit card to buy BOXX (to supplement the BOXX tokens that you have earned as rewards).For Best Life Music Festival, there are three ticket tiers available: general admission, VIP, and artist meet and greet. When you purchase a ticket, you create a new ERC-721 token, encoded with the type of ticket and your encrypted digital identity. Unlike systems that use biometrics to verify identity, ours is completely safe from getting hacked or stolen, because only a one-way encrypted key representing your fingerprint is actually saved on the blockchain.Each user can buy a maximum of 8 tickets, which means you can still buy tickets as gifts or buy tickets for a group of friends. By setting the cap at 8 tickets per digital identity, we take ticket-buying-bots and scalpers out of the picture. Each of the 8 tickets purchased by a single buyer can be transferred or sold to another attendee.How to transfer a ticketIf you bought a ticket for a friend and you want to give it to them as a gift, or have them pay you offline, you can transfer the ticket for free. But if the event is sold out and you want to sell it to someone else for a profit, the rules encoded into the ticket smart contract will set price caps on your sale.At Best Life, the markup on each ticket transfer is capped at 10 percent. So for the General Admission ticket, which starts at $35, the first owner cannot sell the ticket for more than $38.50. The second owner would be capped at $42.35, and so on. With each sale, Blockparty takes a 10 percent cut of the markup. Of that 10 percent, 5 percent goes to the promoter, and 5 percent goes to Blockparty. This allows the platform, and the promoter to earn money from ticket sales in the secondary market, but protects fans from price gouging. The platform also makes it possible to set a hard cap on the price of the ticket — say $60 — so that any transfers above $60 would not be allowed to add additional markup. But we haven’t used that function for Best Life.These markup rules and price caps are intended to eradicate scalping. To turn a serious profit as a scalper, you need to be able to buy hundreds or even thousands of tickets at face value and then sell some of them for two, three, or more times face value in order to make up for the many tickets you won’t sell. With the rules we’ve set in place for Best Life, a reseller can only earn a maximum of a few dollars on each ticket sale and have a limited scope to bulk buy tickets — hardly a worthwhile prize for speculators, even if it is the most popular event of the decade.Driving demandOur innovative application of blockchain and cryptocurrency technology allows us to introduce new incentives to help sell more tickets and promote fan engagement.Every person who downloads the Blockparty app has the option to register to promote the event and earn rewards of BOXX tokens. For Best Life, if you get one or two people to buy, you’ll earn BOXX rewards of 20 or 40 percent of the price of the ticket (1 referral of a $35 ticket = 7 BOXX, 2 referrals of a $35 ticket = 14 BOXX). The scope for setting reward tiers and plans is limitless.Additionally, we are introducing a promoter rewards program. By signing up to be a promoter, a user can participate in reward-based marketing activities, such as sharing videos or posts about Best Life on social media, or promoting the festival on college campuses, or selling tickets. They’ll be eligible to receive larger ticket allocations specifically for resale, and to earn rewards in fiat currency and BOXX tokens.Artist engagementArtists who perform at Best Life can receive a bonus payment in the form of BOXX tokens. On top of their usual fee, we have added an incentive bonus of up to 20% in BOXX tokens (so if their fee was $10,000, they would receive an award of 2,000 BOXX). In return, the artist would need to participate in marketing or on-site engagement activities such as fan meet-and-greets, media interviews, merchandise signing sessions etc.In a mechanism that intends to stimulate decentralized activity between fans and artists, the artists can also stake their earned BOXX tokens to pay fans and promoters who participate in promotional or sales activities in support of the artist’s new music or tour.These marketing activities could include social media posts, shares, or downloads, and other promotional activities that the artist would otherwise pay large fees for.At the festivalFans, artists and vendors will experience significant improvements in their experience at the festival itself under the Blockparty system.Getting in the gateTo enter the festival, each ticket holder will open the Blockparty app on their smartphone. Again, this requires scanning the fingerprint that is associated with that account. This guarantees that only ticket holders can enter, improving event security and preventing ticket fraud. Even if someone stole your phone, they couldn’t open your app to use your ticket because they would not have your fingerprint.Next, the user will reveal the QR code associated with the ticket. This QR code can’t be saved as a screenshot because of moving images on the QR code screen page that are recognizable to gate staff. Gate staff will scan the QR code, and grant the user access to the area of the event their ticket authorizes them to enter.Blockparty’s technology speeds up the entry process because the scanning application is faster than physical ticket verification. Additionally, using on-chain/off-chain batch processing, the Blockparty blockchain enables higher frequency transactions than are normally possible on the Ethereum network.For future events, the Blockparty system is also capable of eliminating another step in entering a festival — showing your ID to receive a wristband for drinking alcohol. The ERC-721 token can already include information about whether you satisfy the drinking age. So the festival could be set up so that you scan your ticket to enter alcohol areas or to order drinks, instead of wearing a wristband. However, state liquor laws will probably take a while to catch up with this functionality, so we are currently not deploying this utility.Buying food, drinks and merchAt Best Life, as with tickets, you can purchase items at the festival with either the credit card that is connected to your app, or with the BOXX that you have purchased or earned through marketing activities. In 2018, Best Life will be run with a hybrid of cash and cashless on-site payments. For any fans who don’t decide to utilize the Blockparty app, they’ll be able to stand in line and pay with credit card or cash at the counter. And fans using the Blockparty app will be able to purchase merchandise from select vendors using BOXX tokens.Fan engagementThere are many opportunities for driving fan engagement using BOXX rewards at the festival itself. For example, at a multi-stage festival, our platform can geo-fence a particular stage during one particular artist’s time slot. Anyone who attends that artist’s performance could earn a reward from that artist through the Blockparty app in the form of tokens. This reward could also come in other forms, such as a digital download of a brand-new, unreleased track by that artist.Fans could also earn BOXX rewards by sharing videos on social media, or engaging with sponsors and brands, or competing in contests, or supporting artist promotions.These BOXX would be paid by whichever party was sponsoring the fan engagement, be it Blockparty or the artist, the event operator or a sponsor.After the FestivalAt many festivals, the real work for vendors and event operators begins when the festival wraps up. There are many accounting challenges that pop up, including tracking sales, distributing vendor fees and dealing with disputed ticket purchases (charge backs). Putting all purchases on the blockchain will significantly improve all of these processes.Accounting for and distributing revenueA blockchain-based payment system for vendors at an event introduces much better options for accounting for and distributing vendor revenue. Vendor transactions are recorded on one payment ecosystem on the Blockparty blockchain which would account for all revenues earned inside the event. Revenue splits are often pre-agreed between vendors and event operators, and percentages could be pre-assigned in smart contracts and paid automatically or allocated at the end of the event in the final accounts.No matter which arrangement they choose, operators and vendors would quickly receive insight into the revenue generated, which locations and vendors were most successful, what times during the event drove the most buying activity, etc. These insights could help maximize profits at future events.Future incentives for artists and fansAs with any rewards program, the use of BOXX tokens to reward positive behaviors between artists, event operators, sponsors and fans will provide a boost to customer loyalty. For example, some of the rewards fans earn at a festival may not be redeemable until after the festival, or a customer may not end up spending all of their BOXX earnings at that event. Those tokens would be available on the Blockparty app to purchase future event tickets. The same is true with artists who receive a bonus payment in BOXX tokens. They’ll have incentive to accumulate tokens to use Blockparty for fan engagement and marketing promotions beyond the conclusion of the festival.ConclusionIn the fun and friendly setting of a music festival, Best Life will offer a live demonstration of some of the more advanced applications of blockchain for consumers. Digital identity management, high frequency non-fungible digital assets transfers, at-location payments and consumer rewards programs.Blockparty aims to deliver fair ticket prices and a fraud-free and safe festival environment. We will also demonstrate the exciting possibilities for tokenization as the future of fan and influencer engagement for artists, event operators and sponsors. Finally, fans and vendors will all benefit from a far more efficient and streamlined approach to ticket sales and on-site purchases.As more festivals and events adopt the Blockparty system, we expect to see more innovation and development of new applications on top of Blockparty’s technology for ticket sales, demand generation, festival logistics, rewards and sponsorships. We look forward to showcasing the Blockparty system live in action at America’s first ever blockchain music festival !Tickets are available here at: www.bestlifefest.com. For media requests, contact: email@example.com.—Other Music Projects We’re Excited AboutChoon — founded by deejay Gareth Emery and business manager Bjorn Niclas, Choon is a blockchain-based music streaming service that will pay artists for each stream on the platform. It is intended for use by both signed and unsigned artists and has already added 10,000 artists.Ujo — a part of the Consensys family, Ujo is a non-tokenized music rights platform that aims to capture music usage from all sources and make artist payments on the blockchain. Run by industry experts Jesse Grushack (SFX Entertainment) and Natalia Romiszewski (Three Six Zero, Universal Music), Ujo mapped existing infrastructure and offers a side-by-side solution.Viberate — solving artist bookings from the ground up, Viberate started by building an exhaustive global database of venues and artists. This decentralized platform will enable artists and venues to engage directly for bookings as well as facilitate agency-led bookings through smart contracts. The team has arguably the largest music industry database on the blockchain.
18. 08. 30
Join Blockparty’s Event Pro...
Earn Tokens + Other Rewards for Promoting Events on BlockpartyWelcome to Blockparty!We’re the leading event ticketing platform on the blockchain.Blockparty is designed to solve the frustrating challenges we all face with event ticketing, such as fake tickets, scalpers, bots and unfair ticket prices. It also helps events, teams and artists generate ticket sales. Since successfully building our protocol and mobile apps in early 2018, we have ticketed major music festivals, concerts and conferences. And we’re just getting started!1. Blockparty’s Event Promoter ProgramWe couldn’t be more excited to announce the launch of our Event Promoter Program, the world’s first blockchain rewards program for event tickets. For 3 weeks, from Aug 27th until Sep 15th, 2018, we will release up to 250,000 BOXX tokens to promoters for registering and completing the below steps.2. How The Program WorksYou will need to complete the following steps in order to successfully register:a) Complete the registration form (required) — 10 BOXX tokensYou will receive an email invitation to register to be a promoter on the Blockparty protocol. Upon accepting the Terms and Conditions of the Program, register to earn 10 BOXX tokens per promoter.This is how the Google Form will look:b) Join our unofficial community Telegram channel (required)Our community has created an unofficial Telegram channel where they talk about everything Blockparty. For the right to earn BOXX tokens, you will need to join their Telegram channel and then enter your telegram username in the Google Form so we may verify that you are a member of the channel.Here’s the channel: https://t.me/blockpartycommunityc) Promote our event, Best Life Festival (required) — 15 BOXX tokensPromote our upcoming event, “Best Life Festival”, on Instagram, Twitter or Reddit to earn 15 BOXX tokens per promoter.Blockparty is co-producing Best Life Festival in Miami on September 15th. Best Life is an R&B festival featuring today’s hottest artists including H.E.R., Ella Mai, Snoh Aalegra and more.It will be America’s first ever blockchain powered music festival! What that means is that we’re using blockchain for ticketing, ticket resale, and fan rewards.A Qualifying Social Media Post must be an original post (not a retweet or like) that includes the following things:1. It must be a full sentence detailing what you love or find interesting about Blockparty, the project, or Best Life, the festival2. It can mention that Blockparty is curating and ticketing America’s first blockchain powered music festival, Best Life Festival, in Miami on September 15th (www.bestlifefest.com)3. It can invite users to buy tickets to Best Life Festival at www.bestlifefest.com4. It must include the following hashtags and usernames:@goblockparty#BestLifeFest#promotedYou will only earn tokens for posting on Instagram, Twitter, or Reddit. Your social account must be public so all members can view it. We will review your post on social media (Instagram, Twitter or Reddit).And don’t forget to join us on social!Twitter: www.twitter.com/goblockpartyInstagram: www.instagram.com/goblockpartyReddit: www.reddit.com/GoBlockPartyd) Provide your public ETH Wallet:IMPORTANT INFO ABOUT YOUR ETH WALLETWe will ask for your ETH Wallet in the Google Form.No Cryptocurrency Exchange wallets can be accepted2. Only ETH ERC-20 compatible wallets3. Only provide your public wallet4. Please ensure that you are responding to an email with an address ending @blockparty.orgWe will never ask you to provide ETH, BTC or any other cryptocurrency.e) Questions?If you haven’t received your invitation email, or have any questions, please contact firstname.lastname@example.org or you can ask questions to the community in the unofficial Telegram channel: t.me/blockpartycommunity.3. Why Join The Program?Promoters have special rights on the Blockparty protocol. Upon signing up, you will receive exclusive and discounted ticket offers, the right to re-sell tickets and earn commissions, and special rewards for attending events and bringing friends, such as VIP entry, artist-meet-and-greets and much much more. We’re excited to have you as a Blockparty Event Promoter!4. About Best Life FestivalOn September 15th, 2018 in Miami, Florida, Blockparty is proud to be co-producing ‘Best Life’, America’s first ever blockchain-powered music festival.https://medium.com/media/fcdb814785e41830f4b173e84b95bb04/hrefWhat does “blockchain powered music festival” actually mean?For our 2018 Best Life Festival, it means that the festival will exclusively utilize end-to-end blockchain for primary ticketing, ticket resale, fan engagement and influencer rewards, and use both cryptocurrency and fiat for ticket purchases, sponsorships fees and at-event purchases.Who’s Performing?Best Life Festival will feature 2018 chart-topping R&B artists H.E.R. and Ella Mai alongside hot up-and-comers Snoh Aalegra, R.LUM.R, Tobi Lou + more. See the full lineup at www.bestlifefest.com/line-up.More ResourcesLearn more about Blockparty and Best Life Festival here:Blockparty online: www.goblockparty.comBlockparty whitepaper: bit.ly/blockpartywhitepaperBlockparty iOS app: bit.ly/boxxios & Android app: bit.ly/boxxplayBlockparty Twitter: www.twitter.com/goblockpartyBlockparty Instagram: www.instagram.com/goblockpartyBest Life Festival online: www.bestlifefest.comBest Life Festival Instagram: www.instagram.com/bestlifefestBest Life in The Source: http://thesource.com/2018/08/07/h-e-r-set-to-headline-inaugural-best-life-music-festival/Best Life in Fast Company: https://www.fastcompany.com/40589798/this-music-festival-will-be-ticketed-entirely-through-blockchainBest Life In the Miami New Times: https://www.miaminewtimes.com/music/her-will-headline-wynwoods-best-life-festival-on-september-15-10598896
18. 08. 28
Introducing Ethereum Quantu...
How an Ethereum Quantum Protocol Could Revolutionize the Movement of Digital Assets.By Rikesh Thapa, CTO of BlockpartyThe biggest problem with digital assets — such as live event tickets, airline tickets and music files — is the ability to transfer ownership.The Battle Between Centralized and Decentralized Systems LoomsThis problem made headlines in 2002 with the shut down of Napster and its peer-to-peer music file sharing platform. And despite efforts from digital rights owners and sellers, the problem still persists today:1. Music FilesSome music re-sellers, such as Apple, embed Digital Rights Management (“DRM”) code into digital music to inhibit their transfer. But DRM-free copyrighted music files can still be shared illegally between individuals.2. Airline TicketsAirline tickets are generally non-transferable, and it is virtually impossible for a person who can not make a flight to sell it to another person.3. Live Event TicketsAfter an event creator sells a ticket, it is virtually impossible to regulate anything about the secondary ticket market — creating an opportunity for bots, brokers and scalpers to jack up prices and sell illegal duplicates.Enter Ethereum Quantum ProtocolsThe Ethereum blockchain can solve these problems by combining ERC-721 non-fungible tokens with ERC-20 fungible tokens in a system I call a “Quantum Protocol.”What Are ERC-721 ContractsERC-721 tokens are an untapped resource in the Ethereum protocol. The most well-known project to use them so far is CryptoKitties. CryptoKitties created new digital assets, each of which was unique, and can therefore only be represented with non-fungible contracts such as ERC-721’s. High demand for Cryptokitties bogged down the Ethereum blockchain, demonstrating the limitation of ERC-721’s as a tradable token.But focusing on CryptoKitties misses the whole point of ERC-721 tokens. The project barely tapped into the real functionality of ERC-721 tokens. ERC-721’s allow each individual contract to have different characteristics. This is unlike ERC-20 tokens that, like a currency, do not allow for any variability.You don’t need to invent new asset classes when there are already millions of examples of real-world uniquely identified digital assets that do have value, yet struggle with problems associated with ownership, use and transfer. Real-world digital assets that could be represented with ERC-721 tokens are live event tickets, airline tickets, digital music downloads and many others.How Quantum Protocols Can WorkUsing non-fungible ERC-721 tokens, you can solve the problems of proof of ownership, fraud prevention and transfer of ownership of digital assets. But in order to truly solve these problems, you have to do two things:1. Keep the ERC-721 Smart Contract Logic Lightweight:To prevent the system overload that CryptoKitties caused, you must build a standard protocol that limits the amount of information embedded into the smart contract. To do this, a separate metadata layer is created that stores and regulates non-essential information related to the asset.CryptoKitties was unregulated, and tokens could be created that were so large they bogged down the entire Ethereum blockchain. You can still encode a powerful amount of data in a limited ERC-721 token, such as a digital fingerprint, and a transfer protocol that sends transaction fees back to the creator, and access to additional perks or privileges, etc. But the system must set limitations on the total data capacity of each token to ensure fast transactions.2. Make non-fungible ERC-721 tokens interchangeable with fungible ERC-20 tokens, which can be easily bought and sold:You could do this with Ethereum itself or any of the tokens built on it, like Metal, or Binance or Tron, but you could also create your own native ERC-20 token. This could allow any company to create a marketplace for the ERC-721s that they issue, where they are bought and sold using their own native ERC-20 tokens. That would give them a powerful way to fund their project and also incentivize activity in the marketplace they create.This “Quantum Protocol,” — the combination of ERC-721s with a native ERC-20 token — would support any number of use cases. And it provides a way for each project to earn legitimate income from regular business functions surrounding their application. By creating a safer, trustless marketplace for digital assets that previously had all kinds of problems with security and fraud, you provide value, and you would be able to earn money on transaction fees, for example.3. To combine the whole system, use a trustless consensus protocol to ensure that the system remains decentralized:In order to ensure that the integrity of the ERC-721’s and ERC-20’s remain intact, the metadata layer must be regulated by a consensus protocol so no new information can impact on existing assets, unless agreed upon by the consensus protocol. This way we can make sure that we do not have a central point of failure, malicious actor, or corrupt authority manipulating data in the metadata or application layer.Quantum Protocols can become the next evolution for blockchain. The Ethereum blockchain needs Quantum Protocols in order to expand beyond simple financial transactions and into an infinite number of real-world, tangible use cases.
18. 05. 23
Music Festivals Are Fertile...
This post on blockchain for event ticketing was originally published on the Blockparty blog on May 21, 2018. Blockparty maintains a Medium and native blog presence.Credit: Alex WardMusic festivals have a broken ticketing and user experience driven by outdated technology and centralization. Blockchain can provide the solution.Blockchain For Your WeekendAnyone who attends enough live events eventually runs into one (or more) of the following problems with event ticketing. These maddening challenges seem to have only one solution — a tokenized blockchain protocol.1. Bots: You furiously type in a captcha on a ticketing site, desperate to buy great seats at your favorite artist or team’s upcoming event — only to find that all tickets are sold out and have magically re-appeared, within minutes, on a reseller site (such as Stubhub) for up to 5 times the original price.2. Resellers: With the event mysteriously sold out, in a moment of desperation, you take the extraordinary risk to purchase less-than-ideal and possibly fake tickets at an exorbitant price on a reseller site.3. Fraud: You arrive at the venue with the overpriced tickets from the reseller — only to learn from gate staff that your tickets are indeed fake.4. Ticket Accounting: You learn from gate staff that there happen to be a few “last minute” legitimate tickets available at even higher prices at the box office, which you manage to purchase, leaving you wondering why the event was listed as “sold out” in the first place.Introducing BlockpartyBlockparty is not the first project to have identified the many problems in ticketing. In the 1970’s, Ticketmaster was the disruptor, offering a markedly better technology than its predecessor Ticketron. Don’t even try to imagine how bad that system was. Since then, a slew of startups have come along trying to offer better alternatives, but none have succeeded.Blockparty will be different. We believe that the Blockparty project offers the only protocol that solves the above mentioned challenges. Here’s what we’re doing:Digital Identity:Creating an immutable and transferable digital identity is perhaps one of the holy grails of blockchain. Blockparty accomplishes this with a user-friendly digital identity mechanism that converts a touch ID or facial recognition scan from a customer’s phone into an SHA-256 encrypted key (a “digital fingerprint”) and attaches this digital fingerprint to the ticket’s QR code, thereby linking identity to ownership.At the event gate, an attendee logs into the Blockparty app with their own fingerprint or facial recognition scanner on their phone to access the ticket. The ticket QR code, which is already associated with the digital fingerprint, is scanned by gate staff using the Blockparty enterprise app, verifying both the ticket QR code and the attendee’s digital identify. While anonymity is maintained on the blockchain, it would be virtually impossible for an attendee to enter an event without being the current owner of the ticket.Further, Blockparty enables the transfer of a ticket from one user to another in a transaction that detaches the QR code from the owner’s digital fingerprint and attaches it to the recipient’s digital fingerprint. Each transaction is logged onto the blockchain, which forms the basis for a legitimate market through which tickets can be resold.2. Integrated Smart Contracts:The Blockparty protocol does not use ERC-20 tokens to create tickets. If we did, we would be limited to only offering General Admission tickets, because all tickets would be created with the same characteristics and rights. Instead, we have built a protocol that integrates an ERC-20 token (“BOXX”) and non-fungible ERC-721 smart contracts (the tickets). This seamless integration of ERC-20 and ERC-721 contracts is unlike any blockchain protocol in existence and we believe represents a groundbreaking innovation in utility tokens.As ERC-721 smart contracts, the tickets can store data that’s unique to them, such as seat number, VIP or general admission, drinking age, etc. These smart contracts serve as the underlying accounting mechanism that operates within the blockchain. BOXX currently act as a financial and reward mechanism that interact between the consumer and the blockchain.3. Demand Mechanism:The event operator’s dilemma, that of funding an event without the support of alternative financing, can only be solved by creating programs that incentivize rapid demand for tickets. In the Blockparty protocol, BOXX tokens can be utilized in powerful incentive programs that encourage customers to buy early to gain access to special rewards, like VIP seating or artist meet-and-greets, as well as invite their friends to participate in events — providing a straightforward mechanism for demand growth.To demonstrate the capability of the reward mechanism, Blockparty will enable early users to earn BOXX for a variety of activities:o Referring new users to download and use the Blockparty app;o Downloading and using the Blockparty app; ando Using the protocol to purchase tickets with fiat currency.The reward levels for these activities will be higher during the introductory phase, and will slowly decrease as more fans begin using to the platform.The Blockparty LaunchUnlike many other heavily hyped blockchain projects that promise exciting utility tokens, Blockparty is developed and ready to go. It’s not “3 months” away. The protocol has already been tested in private alpha mode in a rigorous environment at a major music festival. The Blockparty protocol was subsequently utilized in private mode during Consensus 2018 at the official Blockparty Launch Event, which was ticketed using a Blockparty web app and featured musicians Playboi Carti, A-Trak, Topaz Jones and James Murphy from LCD Soundsystem.The Blockparty mobile app, enterprise web dashboard and BOXX token will formally beta launch at Elements Lakewood Music Festival on Memorial Day Weekend in Pennsylvania. The app and web platform are designed for universal accessibility via iOS and Android platforms. Blockparty intends to roll out its product at music festivals throughout the summer 2018 festival season.Blockparty will ticket a section of Elements Lakewood Music Festival during Memorial Day Weekend, 2018.Meet the TeamThe team behind Blockparty has unmatched experience in both the blockchain and live events industries, bringing expertise and a network that will be key to penetrating the ticketing industry.We’ve operated festivals, managed ticketing systems, built and successfully exited blockchain startups and launched cryptocurrencies. We understand the nuances of the problems as well as the necessary solutions.Shiv Madan, CEOMadan previously served as COO at a division of Time Inc.’s music brand NME.com. Madan is no stranger to the live concert world, having owned and operated a 20k+ person music festival and run multiple college tours. He cut his teeth at eBay, Accenture and Lehman Brothers in banking, derivatives trading, strategy and business development.Andy Goldstein, COOGoldstein comes to Blockparty by way of Metal Payments, a cryptocurrency payment app where he served as COO. His career also includes a term as a sales executive at BitPay and 16 years at Visa (managing merchants) along with First Data.Rikesh Thapa, CTOThapa is an experienced blockchain engineer with a background in blockchain, artificial intelligence, cryptography, cybersecurity and product development. His specialty is in building and managing robust, scalable applications from the ground up, in startup environments. Thapa’s most recent accomplishment in blockchain was building, scaling and selling a decentralized energy blockchain system to a billion dollar company.Aaron Chawla, Board AdvisorChawla brings a rich history of connections and experience in the entertainment industry that gives Blockparty vital insight into the scope of the problem. Chawla has produced or directed operations at the Super Bowl halftime show, Coachella, Life Is Beautiful, Lollapalooza, Bonnaroo, Kanye West, Daft Punk, Kaskade, Kevin Hart, Aziz Ansari, Michael Jackson, Prince and more.Greg Consiglio, Board AdvisorConsiglio is a veteran of the ticketing, live events and consumer technology industries and brings a deep understanding of the industries’ challenges and opportunities. He previously served as Executive Vice President of Ticketmaster, Chief Operating Officer of SFX Entertainment (now renamed Livestyle) and CEO of Beatport. He also served as an SVP at AOL.Get involvedWe believe Blockparty is the future of live events. To get involved, simply register here to earn the chance to win tickets to music festivals during the 2018 summer festival season. Join the conversation on Twitter.
18. 05. 22
|Bancor Network||Short cut|