So, thinking about this next project. There is a lot of aspects to it, and it can be looked at from different angles, so I need some structure. What I'm going to include, and what I'm going to skip.
The startup in question is an event sharing platform similar to Facebook event system, for what I know, but with a spin of monetary incentive, based on tokens.
First, let's make a list of all major angles of this story.
First, it's a story of a talented Nigerian entrepreneur, who organized a successful startup in SpB, based on an idea that came to him when he worked in the hotel, and people constantly asked him where they could go and stuff. Also, he saw some dream, in which he learned how this project should've been called. In other words, the story of success, blah-blah.
Another angle that requires consideration is that the project has already somewhat gained traction. So I need to mention, what exactly is currently going on with this app, its users, and people who try earn tokens on promotional activity, and things like that. It's complicated, because when the project is already in the wild, but it's still in its initial stage, the information about this aspect of the real-life application is scarce.
The third angle: The project has an interesting history of promotion and financing, including various blockchain accelerators and other spooky organizations like that. Plus a number of key events and conferences where this startup managed to attract additional money and sponsors. It's worth mentioning.
The fourth angle is something eventually related to the project itself. I noticed one interesting phrase somewhere, suggesting that project positions itself as a social network, rather than simple event sharing platform. As I see it, there are three cornerstones this platform has: social element, commercial element powered by event organizers. (if they will manage to get on board big event organizers, like theatres, clubs, restaurants, cinemas, concerts, etc. Technically, it can also be event and ticket sale aggregators.) And monetization for event promoters. The third element here is interesting because it essentially gives each platform participant a monetary incentive. Like, everybody who signs up on the platform just to stay up to date with events and stuff can also share and promote events. Most likely, people will actually do that. And here this additional monetary incentive fits perfectly well.
The fifth aspect is platform features. Because this is something that defines it both as a social network and commercial event aggregator. Also, here it would make sense to mention, what essentially differentiate it from ticket aggregators. Namely, timing, place, and social element. Like people always want to go someplace located nearby, they more often than not make their decision spontaneously, and they want to check who of their friends are going to attend as well. (Or another way of social interactions related to the event, I dunno) Ok, there are features like public and private events, and, also, free events like a private party, or commercial, like a concert, tickets to which also can be purchased through the platform. Plus, of course, tokens for event promoters, cash back, etc.
The sixth angle is how this startup compares to other existing similar platforms. There are ticket sale aggregators like ticket.ru, facebook event system, timepad, meetup.com (what's that), there was mention of Foursquare, and similar stuff. As I understand, the key advantage of the project is that it has both social and commercial element, while all the aforementioned projects are either social or commercial.
Ok, the seventh element is the platform architecture and blockchain. In one of the articles, I've just read there were mentioned problems with counterfeit tickets, speculations, and price hikes of ticket aggregators. Definitely, blockchain can make the whole process more transparent if, for example, ticket sales are also conducted on blockchain (Which is not clear at this point)
Well, Ok, So my brain is in that nasty state when it's way too exhausted to think coherently, so I can't compose anything decent, regarding that wonderful startup. And, at the same time, it's too wound up, in case I wanted to take a nap for a couple of hours and finish that stuff in the morning, so it's not going to happen either.
So, since I still have some flow of thoughts, I will ruminate and, maybe, compile some rough outlines of a draft or something. Like, what would be the prologue for example? The prologue will be the overview of ticket aggregators and social networking platforms, and that they all they fulfill one function or another, like social networking or commercial promotion, so they cannot compete with the project that combines both those functions.
Like "When we are looking for some events and places to visit, we'd like to find some site, where we could buy those tickets, and at the same time learn who of our friends are going to visit the same event, maybe engage in some conversation, or ask some questions and stuff. The latter we can do on Facebook event pages, but we cannot buy any tickets there. We can buy tickets from ticket sale aggregators like ticket.ru or register for the event on timepad, but those sites, in turn, are devoid of a social component. We might want to organize our own event, and it's possible to do on Facebook, but first, there is no way to make it commercial (like I cannot organize ticket sale on Facebook), and second, I cannot set up the level of privacy for the event. For example, it would only be visible and available to a group of friends, or people related to a certain field, like programmers or ventriloquists. Although, maybe, it's possible, but, anyway, I cannot sell tickets on Facebook. Also, I cannot convince random people to promote my event, unless they are genuinely interested. So, I might be interested in a platform that, keeping all the social element, would also give some monetary incentive to random people to promote my events.
So, the history.
X is a talented entrepreneur from Nigeria, who finished some education with a gold medal and got a scholarship and stuff, so he could move anywhere and do some business or something. So he kinda ended up in SPb, where he devised project Y. The idea of the project came to him when he worked in a hotel. (so much for a scholarship) And people asked him somewhat in the middle of the night where they could go and have fun, and he googled stuff and sent them somewhere, but sometimes they returned, saying that it wasn't that much fun there. So X decided that he needs to build a platform where people can go and find out about the places they might visit and have fun and stuff. So they wouldn't bother and disturb him anymore. So he invented project Y. Once he saw a dream, in which he saw three potential names for his project. Then he kinda walked the streets and asked people, which of those three names they liked the best. And they said it was Y. Thus the project eventually got this name - Y.
What's interesting about the Y project is that it simultaneously includes elements of the social network and commercial platform. People and organizations can organize events there, and like on Facebook, people can, like, click there, saying that they are going to the event or they are interested. I can share it with my friends, see who of my friends are also going there, like, write some comments, tag people, and stuff. What this platform also has, and what Facebook lacks is that I can buy tickets right there on the platform. (Or sell tickets if I organize my own event) So there's this commercial element, that social network lacks. Also, people can share and promote events, and they have monetary incentive to do so (like they receive those tokens and stuff), so this might stimulate them to promote the events more actively. Like, I organize an event and buy a pool of tokens, with which I reward anybody, promoting my event. So it's pretty neat.
So, many serious investors became interested in this stuff, and project Y got sponsorship from "Y generator," some angel investors, the government of Finland (after they conducted some conference in Finland) I need to check this list. They conducted some conferences, and people got excited and stuff, and more investors and sponsors started supporting the project. So they are kinda all set. Ah, also they are going to cooperate with some Russian telecom company the name of which is actually nowhere mentioned.
Also, project Y is already becoming a popular alternative social networking platform in SPb (and some other Russian cities I need to check). Also, they are planning to unfold similar activity in NYC, and some other cities around the world, (which I also I don't remember.) Ok, the thing is, they kinda already have a working app for Android and IOS, and there are already users on board and stuff. Like, at least from that interview with Life, it's visible that there is that app with the whole list of different events, and those events have like, thousands of views. So, although, this thing is still in its initial stage, it sorta already took off and is gaining momentum.
So, yeah, technically it's based on blockchain and has its tokens that are used to reward those people promoting events. At the same time, tokens can be used to buy those tickets that are sold on that platform. Plus, tokens can be converted to fiat. Plus, like, if I want to buy tickets, I can buy them for normal money, but if I buy them using crypto or platform tokens, I kinda get stuff cheaper than buying them for money. So, it would kinda also stimulate people to use the platform, crypto, tokens, and stuff. Plus, those who buy tickets after following the reference links of promoters get some cash back (like, I dunno, token rewards?) So they kinda also would have an incentive to keep using the platform and buy more tickets there.
One might think that such scheme would lead to a lot of spam. Like, people would begin to try to make as many tokens as possible, sharing and promoting everything they see, but there is also a cunning trick to prevent that shit from happening. Like, similar to Ethereum where for anything to happen you need to spend "gas," (small amounts of Ether) here we have the scheme where promoters actually spend their tokens by promoting and get rewarded only for the actual visitors, whom their promotions attracted. So, if I promote something, I kinda got to think whether it's going to work out or not. Because, like, if I share those events, and nobody turns up, following my promo-links, I kinda waste tokens.
There is a couple of other things. First, there is some math principle they refer to, something like "the utility of social network exponentially grows with increasing number of its users," like, networking effect or something. The second, they use some kind of special protocol, which is cool for some reason.