As the interest in the Blocktix project grows, more and more people are eager to hear details about our upcoming crowdsale, so today we are releasing information on our initial crowdsale, our actual funding requirements, how the TIX tokens will be distributed, and of course the plans for the future of Blocktix.

Funding Details

Our goal is to make a mark in the real-world, improving the ticketing process and reducing friction points in event hosting. To accomplish this goal, the path forward for the Blocktix platform relies very heavily on a user adoption strategy. Not only are we creating the ticketing system of the future, we’ll also need funds to create a series of events to drive user adoption of the Blocktix system. Onboarding new Blocktix users via real world events is the key to gaining real world adoption and growth of Blocktix.

To have a solid chance at success, Blocktix will need a minimum of 2,5 million dollars in funding. The funds will be allocated for two purposes; $1,6 million of the raise will fund systems development through phase 2, the remaining amount will fund the user acquisition plan (Blocktix Foundation).

To fully develop Blocktix as a turnkey event hosting platform and to jump start the user adoption of the system through foundation events, we estimate a requirement of 7,5 million dollars, this will be the cap for the Blocktix crowdsale.

With full funding from the crowdsale, we will simultaneously begin the user acquisition events in both the EU and USA. However if the crowdsale funding does not reach the maximum cap, we will have to decide to start the user acquisition phase in the USA only. After several successful events, we will then be able to start the user acquisition phase in the EU.

As you will notice in the details below, we have chosen to escrow parts of the development fund. The escrow is set up to ensure the crowdsale participants that we are fully committed to reaching our goals of developing a turnkey event hosting platform and if the goals are not met, the escrowed funds will return back to the crowdsale participants.