Tickets Cloud has raised US$1,000,000 to develop crypto.tickets blockchain platform
Tickets Cloud, a B2B service for event organizers and ticket distributors, has raised US$1,000,000 to develop crypto.tickets, its blockchain platform. A group of private investors delivered $500,000 in fiat money; another $250,000 came from 2be.lu Investments, a fund based in Luxembourg; and the final $250,000 was raised through a private offer. Firrma received confirmation of the news from the company.
“We are currently accumulating the raised funds. The private offer round continues, and the team plans to raise over $2,000,000 before the ICO opens. After the ICO, the final amount will determine what of the announced features we will be able to implement”, the company announced.
Tickets Cloud will hold its ICO in October, issuing 914,869,281 TKTs at $0.04 per token. First investors will benefit from early bird bonuses: 20% extra tokens on the first two days, 10% extra on the third and fourth days, and 5% extra over the three days after that. The company plans to raise up to US$23,000,000 this way.
If all tokens are sold on the opening day, they will distribute in the following proportions: ICO investors will get 68.9%; Tickets Chain Growth Fund will retain 3%; 15% will go to the Tickets Cloud team, and another 7.6% — to the investors involved in the private offering; with further 2% allocated towards the bounty, and 3.5% to the advisors.
The team points out that the incentives in crypto.tickets are designed for both B2C and B2B segments: that’s why 3% of tokens will be allocated to incentivize the first few market players that choose to participate, as well as the promotion of first crypto-ticketed events. Token bonuses will be available to event organizers, ticketing systems, distributors, and early users of Tickets Wallet.
Tickets Cloud is a unified B2B platform for event organizers and ticket distributors that helps them enter new markets, increase sales, or expand contacts. All transactions, contracts, and interactions are automated.
Crypto.tickets is a blockchain project that aims to create a single ecosystem in the entertainment ticketing market.
Bogdan Yarovoy was one of the early supporters of the project — in 2014, he invested $75,000 in Tickets Cloud. Later that year, Starts Capital Investment Company and Moscow Seed Fund added another 4.5M RUR. Business angels Aleksander Borodich and Igor Matsanyuk made another investment, followed by a $10,000 grant in July to cover AWS expenses. Tickets Cloud raised a further round of $500,000 in December 2015, supplemented by $400,000 in 2016 from the investment platform StartTrack.
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Cryptographic.tickets-it is a project to create a unique blockchain ecosystem that will forever change the sale of tickets for the massive Event industry. At the moment the ticket sales market is experiencing many problems, such as speculation on the secondary market, fraud and falsification of tickets, partial sales and the lack of a consolidated tool of a return ticket.