An Industry That Needs Disruption
The event industry is one of the fastest, stable growing industry. In 2006, the market size was valued at $10 Billion and it has maintained consistent growth at CAGR of 6.3%. Event ticketing companies like Eventbrite or Ticketmaster have generated much revenue by charging event organizers fees for each ticket sold on their platforms. The organizer is left with the option of promoting his events where a huge percentage of them are stuck. The goal of all event organizers is to have maximum tickets sales or registration to their event. For this purpose, they spend a lot of money, energy and time on online and offline advertisement.
With over 100 events going on each minute across the globe, event organizers/agencies face a huge problem with promotion and successful event-marketing. Statistics have shown that organizers spend approximately 20% of their budget on marketing and nearly 50% of organizers can’t even get people to respond to invites. Subsequently, 26.4% of them do not know which online tool to use and 13.6% have no experience using online tools.
The most disheartening part is that the 73.6% that use online tools are victims of ineffective online advertisement. The current centralized online advertisement platforms are designed to enrich themselves at the disadvantage of the users. An example is Jack — a concert organizer who uses a CPC model for advertising. His Action is “Buy Tickets” with average CPC on Facebook as $0.32. He gets 1000 clicks but only 30 people complete ticket purchase. Jack ends up spending $320.00 while his real expense based on full conversion was $9.60. That is a 3333% unnecessary expense.
The solution is KickCity Token– decentralized, transparent and reward-based event promotion asset with 100% conversion in a few minutes. KCY token will be used as cryptocurrency for ticket purchasing, reward-based event promotion and will be available for trading in the exchange market. The first component is already generating revenue. KickCity is a community-based social event platform. Users can create events, sell tickets, connect and communicate with each other.
Basic Attention Token (BAT) which raised $35 Million in 30 Seconds in ICO has also realized the need for decentralized advertising.
With Blockchain technology, KCY will disrupt the event industry by totally removing ineffective advertisement and free up 50% time of an event organizer through decentralized reward-based promotion. This will consequently encourage mass adoption of cryptocurrency since everyone attends events.
KCY will allow for the development of a decentralized event promotion platform, where users can promote events and receive rewards. An event organizer can publish his event and within a few minutes, all his tickets will be sold out.
KCY is a token on KickCity platform and it will also be available on other event platforms as a white label.
Stay tuned to get more information about our upcoming ICO.
