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Aventus is an enterprise-grade blockchain that marries the scale of a permissioned blockchain with the security and interoperability of public blockchains — with none of the drawbacks of either world.
Founded in 2016, Aventus makes building on Polkadot, Ethereum and beyond accessible for businesses and decentralised platforms, bringing interoperability, scalability and sustainability to Ethereum transactions. In its first year of operation, the Aventus Network has onboarded over 20 million transactions for business clients with 8 million active wallets.
Aventus’ mission is to enable companies in any ecosystem to capitalise on a vast series of use cases – including NFTs, video games, loyalty schemes, event ticketing, supply chain provenance, and cargo management – via enterprise-grade modular architecture and future-proof themselves via blockchain interoperability.
Aventus onboards enterprises to Web3, enabling them to generate new revenue streams, improve operational efficiencies, and future-proof their business.
It works with each enterprise to scope out potential use cases, and customize a SaaS-style product from its extensive suite of modular, composable architecture, as well as maintains and manages the solution – so enterprises can focus on what they do best.
The Aventus Network is an instantiation of the Aventus blockspace offering, where any clients who aren’t ready to leverage a blockspace offering can trial the solution. It is particularly suited to loyalty / cashback providers.
It enables cashback providers to increase efficiencies from a business perspective and provide a better user experience for the end client.
Read our use cases in loyalty for more information of the Aventus Network in action.
- Allows event organisers to create,manage and promote their events and tickets with dramatically reduced costs, even letting them set price controls and receive commissions on ticket resales
- Gives ticket buyers rewards for promoting events, and identifying fraudulent activity
- Secondary Market Control
- Promotion and Platform Cost Reduction
- The AventCoin is essential for aligning the economic incentives of participants and for ensuring that minimal fraud occurs in the system
Technical details:
The overall ecosystem is comprised of 3 layers: the protocol, the service layer, and the application layer. The Protocol is entirely composed of Ethereum smart contracts that allow for the creation and validation of events, the issuance and sale of tickets in primary and secondary ticket markets (customisable by the event organisers), and the distribution of ticket sale revenue and market/event fees between the event organisers, ticket promoters, market matchers, attendees, etc. There will be minimal fees for using these contracts so that the protocol can remain competitive and enjoy maximal adoption.
Proof of developer:
Public team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:
Online ticketing, relating both to the sales practice and fraudulent problem, is a big problem that can be effectively solved by decentralized solutions, so the potential for the project is large.
The team has some experienced advisors to balance out the relatively inexperienced team.
There is a network effect present – the more users Aventus has, the more valuable the tokens are.
Concerns
The project is just an idea right now – nothing is released yet.
The team is young and lacks relevant experience.
The roadmap is vague and doesn’t provide too much information as to the team’s competence.
A big part of Aventus’ idea is to solve the touting and black market problem. However, there have been lots of attempts for current players to address the issue and in vain. For example, Ticketmaster attempted to address the resale problem around 2010 but it had to scrap the idea within a year. The restriction to transfer tickets caused legal challenges, especially in the US where the laws in every state is different.
Blocktix, another ICO project aiming to solve the same problem (minus the anti-scalping idea), seems like a close competitor to Aventus. Blocktix issued the whitepaper last year and presented their idea at the European Ethereum Development Conference in February 2017.
Other than Blocktix, there are various competitors utilizing blockchain technology already – HelloSugoi, Ticketchain, esPass, Guts, and Lava.
Conclusion:
Overall, I am neutral about this ICO for its short-term potential and negative for its long-term potential. There are simply too many competitors in this space. Combined with the inexperienced team, I am just not sure if Aventus can come out as the winner.
Our thoughts of the tokens for short term and long term are as follows:
For short-term holding:
Neutral because another close competitor, Blocktix, held an ICO back in July and the performance has been poor. Not sure if the market is excited about another blockchain ticketing project.
For long-term holding:
Not good either because I’m just not sure if the anti-scalping business model works.
Ultimately, Aventus wants to disrupt an industry that sorely needs to be disrupted. The ticket selling industry is extremely inefficient. It’s not doing a good job for venues, event promoters, acts, or attendees. It’s filled with high fees and suffers from enormous problems with black market resales.
