Symbol – AVT
Whitepaper – Link
Where – The ICO will take place on https://aventus.io
When – September 6th 2017 at 12pm UTC
How to Participate – AVT tokens can be bought by contributing ETH (Ethereum) tokens
Soft Cap – 2 Million USD
Hard Cap – 15 Million USD
Total Max Market Cap At ICO – 25 Million including company allocation
Exchange Rate: 92 AVT Tokens per ETH
Total Tokens in Circulation At ICO – Total Contributed ETH * 92
(Max tokens in circulation if hard cap is reached is ~10 million)
Aventus is a project which aims to tackle the issue of ticket sales, fraud, and misaligned incentives in the ticket industry. Some 60% of all online ticket sales are usually bought by bots instantly and then flipped on to black markets where the fraudsters can charge exorbitant fees as well as counterfeit copies of purchased tickets. Currently, primary sellers of these tickets have no real incentives to stop this kind of behavior – after all, if your tickets sell out instantly it makes for a great story and some good publicity regarding the perceived popularity of an event.
Aventus aims to tackle this problem head on with the use of blockchain – putting tickets on a digital ledger with identifying information (about the person who bought the ticket, however it will be anonymized), who sold/resold said ticket, and even economic incentives to stop fraud in its tracks. For years the ticket industry has been something that simply has not evolved to modern standards with the advent of computing and the Internet – with Aventus, this is now possible.
One of the biggest positives about Aventus is their great whitepaper – it’s concise, to the point, and actually features technical details and realistic methods of how they will achieve their goals. Time has been put into this project, and one can easily see that they are investing in a project that has real opportunity as opposed to other less trustworthy projects.
Another positive for Aventus is their team – they don’t have any particular individuals on their team who are experienced in blockchain, but each member has years of experience on their respective field – combining their strengths will be crucial to the success of this project, and for a young and hungry team, this should be feasible.
Aventus also has a great community – their slack has almost 2’000 people in it, they have over 3’000 followers on Twitter, and I’ve personally seen their team members reach out to individuals to answer questions and allay concerns.
Finally, the details of the ICO sale itself are explicit and not greedy. They are only seeking to raise 2 Million USD, with a relatively small hard cap at 15 Million USD – investors who are looking to get on the ground floor of a possibly revolutionary project will find that their investment into Aventus will represent a strong portion of the total market cap.
One negative about this project is the use of cryptocurrency itself when marketed towards users – mainstream consumers currently have no idea what cryptocurrency is, and while Aventus takes measures to “hide” this settlement layer from the typical user, event organizers and marketers will get no such benefits. The volatility of something like a cryptographic token may turns heads for some, but for others it might simply be too dangerous to switch from a more standard system.
Another possible downside is the use of oracles as part of its technology layer – alone, a blockchain simply can’t get information from the outside world. In order to feed accurate, relevant data to a blockchain (to execute the Aventus smart contract), an oracle will have to be used (one example they noted was to judge the current market price of tickets). Details on oracles from Aventus are sparse, and if they haven’t managed to solve this problem, the entire project could fall flat.
Aventus is a solid concept, and one that is definitely worth looking into. The team is solid, the idea has definite potential, and the ICO details are fair and provide plenty of room for future growth. Don’t miss out on this one.