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A Bulgarian based platform dubbed Evedo intends to place the entire event industry on blockchain permanently to get rid of all the middlemen. The company is on the verge of launching an IEO (Initial Exchange Offering) targetting Asia this month. Evedo has officially joined hands with BitForex exchange and hopes to raise $2.5 million to further develop their product.
An IEO (Initial Exchange Offering) is more or less similar to an ICO, just that an IEO offers a token sale by partnering with an exchange instead of directly offering tokens to investors. Elena Kalpakchieva - CMO of Evedo at the time of signing the contract with BitForex stated that "Our IEO will tackle the Asian market primarily as we are now working on closing a deal with two of the biggest exchanges, both of them focused on China, Singapore, Japan, Russia, and Korea." It was further informed that the platform also targets the US and European markets.
The Founder and CEO of Evedo, Stoyan Angelov originally belongs from the event industry. Apart from being the founder of Evedo, Mr. Angelov is also the co-founder of a well-reputed event agency named Fly events. As a part of his job, Mr. Angelov came across various problems that organizers go through to connect and coordinate with the participants, book artists, venues, etc. Evedo was formed to eliminate such obstacles.
Angelov says "We aim to build a true ecosystem that will help the $850B+ event industry grow by connecting all parties without unnecessary middlemen." He further went on to inform that Evedo now has a team of 8 professionals who mainly want to put all that on a blockchain while regulating the relations between stakeholders using smart contracts.
From L to R: Anton Aladzhov (Chief Creative Officer), Elena Kalpakchieva - Kalpa (Chief Marketing Officer), Stoyan Anglelov (CEO)
Evedo involves both B2B and B2C marketplaces involving every single participant required for organizing an event. Evedo further clarifies that although venues, artists, techniques, and rental firms, catering firms, sponsors, etc. are majorly part of B2B marketplaces, the main B2C players are the organizers, promoters, and attendees.
Evedo's main role concerning consumer space is to buy and sell tickets along with marketing events to potential audiences. According to team Evedo, B2C platforms alpha version will float this week before the IEO. According to Evan Luthra - serial Indian entrepreneur "The Evedo project seems strong, and it's tackling a big market. I am looking forward to the upcoming IEO of Evedo as it makes sense not only in terms of my investment portfolio but for the global change in the event industry." Further, the firm already has captivated advisors like Jonathan Yunger (Director - Millennium Films) and Jammie Jeremedjev (Managing Partner - Lemon Bush).
At present, Evedo dwells in Thailand where it is also taking part in the Master Venture accelerator. Kalpakchieva says "Master Venture's accelerator and our VC are both based in Asia – Hong Kong and Thailand. The reason for our journey in Thailand is to gain further connections and reputation in the blockchain community in Asia." She further notes that the blockchain community is widespread which helps Evedo polish the product.
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