Blockparty | 2020
The Year Ahead + The 2019 Year In Review
Founded in 2017, Blockparty Tickets was designed to utilize blockchain technology to eliminate common frustrations with the current ticket purchasing experience. Since its launch in May 2018, Blockparty Tickets has worked with clients in the music, sports, art and conferences verticals to mitigate ticket fraud, lengthy event check-in protocols and predatory secondary resellers.
Blockparty Group closed out 2019 with an Exclusive Venue Contract for a New York nightlife venue and a fan reward token built for the Sacramento Kings. 2020 will see Blockparty Group continue to utilize its ticketing subsidiary while further expanding into other NFT (non-fungible token) assets such as digital art and reward points. It will also launch an updated NFT protocol and smart contracts, along with related token utility.
In 2019, Blockparty Tickets won and executed numerous ticketing deals. Our focus was on blockchain conferences, music events, art events and nightclubs. We ticketed conferences including Crypto Invest Summit, CoinAgenda, World Crypto Con, Blockchain Cleveland, Litecoin Summit, Chainwise Conference and Road to Consensus. We ticketed music festivals, concerts and tours and art fairs like Best Life Festival, Mugatunes, 3LAU, Elements and CADAF. We sold tickets and tables at Tao, Up and Down, LIV, Marquee and other venues.
In January 2020, Blockparty Group secured its first large exclusive venue contract (EVC). The contract is with a multi-venue New York based nightlife group. The deal provides for +$1.5MM in annual gross transaction value for a first venue, plus the opportunity to work on ticketing for additional venues with the group. The details of this deal will be disclosed closer to the deal launch in Q2 2020.
Digital Asset Marketplace
Blockparty Group is expanding and will launch a Digital Asset Marketplace. Blockparty Marketplace will enable the purchase, sale and transfer of non-fungible tokens from digital art and reward points to event tickets, collectibles and in-game assets. Our clients, such as the Sacramento Kings, have provided valuable feedback to support this conclusion. Clients have continued to show excitement about what we could do with reward points, crypto collectibles and digital art. We believe that there is a significant opportunity and market gap to become a world leading marketplace for users to buy, sell and exchange non-fungible digital assets.
Blockparty Marketplace is in development. We are currently adding design and marketplace features, reward tiers and discount functionality, NFT (non-fungible token) capabilities and additional smart contracts. We have been building steadily over the past few months and we intend to launch in or before June 2020. Our intention is to launch with a focus on Digital Art, commencing with the launch of a major exclusive high value portfolio. Eventually we expect that Blockparty Marketplace will include the ability to sell and resell NFT tickets. Blockparty Tickets will continue to operate its existing platform through 2020.
Blockchain and Token Development
With the hiring of Joey Fiscella, Blockparty Group has vastly accelerated its blockchain development. We have built NFT infrastructure, reward tokens, new smart contracts and related API’s. These features are planned to be launched in Blockparty Marketplace. Our new team has also developed a more simplified and powerful token utility for Blockparty Marketplace. We intend to provide a detailed update in Q2 2020 on token utility as part of our Marketplace launch.
Blockparty Marketplace is designed to ensure a high degree of decentralization. Digital assets may be owned and transferred to decentralized wallets. Aspects of the Protocol will be open sourced to enable third party NFT applications. We intend to encourage third party development at the Protocol and application layer via hackathons and development bounties. It will continue to operate on the Ethereum network to attract volume from NFT issuers and other marketplaces.
The Marketplace will continue to offer fiat payments and custodial wallets. We found that the majority of potential ticket buyers were unfamiliar with cryptocurrencies. We expect to attract interest from the mainstream art world and need to offer them fiat payment capability.
Blockparty Group is pleased to report the following team updates:
Shiv Madan, Chief Product Officer. Shiv took over the role of CTO in September and has spent the past 6 months running non-core engineering. He has been responsible for hiring engineers, implementing and running Agile, leading non-core development, re-designing our product roadmap and shipping new products to clients. Shiv will continue this work while also building and launching new applications on the Protocol.
Vladislav Ginzburg, Chief Executive Officer. Vlad will assume the CEO role to manage operations and client relationships. Vlad has built relationships across ticketing and rewards and understands the pulse of the industry. Importantly, as we launch our digital art vertical, Vlad’s experience and relationships in the art world is expected to lead Blockparty Marketplace to rapid growth.
Joey Fiscella, Chief Technology Officer. Joey joined from Galaxy Digital Assets. He also served as Founder & Lead Developer of FLO Blockchain. Joey has enabled Blockparty to quickly build new blockchain technology while also garnering the confidence of our team and clients. As CTO, Joey will continue to lead core-engineering and implement our decentralization strategy.
Vladislav Ginzburg, Shiv Madan & Joey Fiscella