Technology has separated us as a society by making us feel more connected to each other, but in isolated, individual spaces.
Our manifest is to turn technology's effect around and deploy it as the means, not the end, to foster real-life, tangible interaction of communities who share interests and passions.
Staxe envisions Live Music as a resolution: The most ancient and timeless catalyst that summons our natural desire to come together as a one: Live Music
If you thought that was weird inspiration
Our team is made up of either artists or concert junkies. And after years of going to every concert and music festival we could get our hands on, we asked ourselves: How do we get access to more?! How many of the thousands of people we've been side to side at these events -and leaving essentials aside - value an experience over anything else money can buy?
And then came Blockchain... and once we began to understand it, we could not sleep anymore. After years of growing together in the Blockchain space, we developed the B-Live MVP on Rinkeby in an attempt to cut out ticketing fees and middlemen. A few weeks later, we bumped into SMACKATHON which inspired us to rebuild the project to create Staxe.
What it does
Staxe opens an unprecedented possibility next to buying a ticket for assisting a live event: to partner with it.
Staxe’s Smart Contracts crowdfunding system turns music fans into investors in the events they love, disrupting the current binary choice of buying a ticket in order to gain access to a concert. This can be achieved through Staxe’s Decentralized Shareholder Association Protocol and its digital currency, STXE: an ERC-20 utility token which allows anyone to initiate an event and tokenize its future profits. Asset Tokenization grants a tokenholder the right to claim a share of the event’s earnings. In other words, this results in a pre-arranged Distributed Door-Split Deal, where every participant accepts each others terms, careless of the trust factor such an association would imply, thanks to DLT.
This model enabled us to build a Dapp with the following feats:
- A crowdsale smart contract creator similar to that of an ICO, which enables tokenizing a concert/tour, and can be used in practice as a crowdfunding tool for concert promoters or anyone organizing a gig
- An investment vehicle for live music fans and the crypto community, where artists and concert promoters team up to offer exclusive perks and benefits to incentivize their concert backers
- A ticketing system, governed by Smart Contracts which are capable of verifying user identity and ticket authenticity through a very cool QR code generator
- An event planning interface built on top of a smart contract creator, where the initiator's inputs defining the concert's details and crowdsale terms live on the Ethereum TestNet
- An integrated wallet that can dually serve ETH and STXE Token, with its own seed phrase (private key) generator, balances, transactions history and another cool QR code and scanner for the public key
- A profitability algorithm which predicts event success based on attendance and ROI
- more in the dapp alpha below, try it to see more!
How we built it
First, we recycled the research, design thinking and wireframing from our first proof of concept project, B-Live, and redesigned it into a fun, neat look to give the project an identity.
We then started to work on the contracts and the mobile dapp in parallel. The contracts were written in a TDD fashion, which allowed us work in a reliable environment until the final stage. Around halfway through the Smackathon, we performed the integration of all the components. We also setup the CI in order to orchestrate and provision in full automation from SCM to continuous delivery.
Our dapp consists on three core components: 1) Solidity contracts 2) An API backend (which provides storage and utility) 3) A react-native mobile application
Challenges we ran into
We had a great time building Staxe, though some hurdles to highlight were creating the incentive models from scratch and designing the distribution algos to make them feasible
Accomplishments that we're proud of
-After several pivots, we managed to build a end-to-end network that is autonomous from any bank, capable of building a smart (circular) economy
- Beautiful UX design and how it shares its identity throughout the project
- We managed to create a user-friendly interface, which wasn't easy given the conceptual complexity of the project and the large set of features we ended with
What we learned
The prediction model was a challenge to build, but what made it worth it was realizing how a large enough community would provide valuable information (Big Data) about and event's probability of success
We finally got put to practice mechanism design and it was amazing to see how democratizing the can help artists and promoters shape their events and tours towards desired outcomes
We really believe Staxe will turn into an awesome way to connect people and a way to share experiences with friends and other like-minded people who love live music or even the same artists you do
What's next for Staxe
This has been by far the most interesting and fun project we've ventured in together. Staxe is capable in creating a whole new level of collaboration and democratization in the live music industry. Our next mission is to build a community of artists and promoters as first adopters while we continue to work on a more solid Beta.