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|Original author(s)||Annika Monari and Alan Vey|
|Developer(s)||Aventus Protocol Foundation|
The Aventus Protocol is an open standard event ticketing platform based on blockchain. The protocol was first outlined by Annika Monari and Alan Vey in a 2016 white paper. The two met in 2015 while studying for their Masters degrees at Imperial College, London. They are co-founders and directors of the Aventus Protocol Foundation which oversees Aventus Systems, the only company running the protocol.
The Aventus Protocol is based on Ethereum blockchain technology and its crypto token is the Aventus Token (AVT). The project was funded in two rounds. First by a private pre-sale and then, in September 2017, in an initial coin offering. The initial funding was reportedly £26 million, including 60,000 Ether raised.
The Aventus Protocol is intended to make purchasing tickets more transparent and selling them more profitable for an artist or venue. The protocol creates a unique identity for each ticket that is then stored on a public blockchain. Each transaction involving the ticket is likewise recorded publicly. Monari and Vey stated in their white paper that the protocol is a tool to combat counterfeit tickets, uncontrolled resale, and opaque pricing.
In 2018, Monari and Vey founded a second company, Artos, based in London. The company partners with ticketing companies to use blockchain technology to more efficiently control and gain visibility to a company’s ticketing inventory as it moves through the supply chain.
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