On 2 July our CEO, Bjorn Ruistuen, was invited to talk about Viking Fehu and the FEHU token on KoinBX. The AMA session was hosted by the crypto influencer Vaibhav Gupta, founder of Desi Crypto.

An introduction to Viking Fehu and the FEHU token

Viking Fehu has ambitious goals: to disrupt the trillion-dollar global events industry market with their NFT ticketing platform. Crafted on the robut Polygon Mainnet, their utility token FEHU represents not only a token but also a revolution in the future of events and digital transactions.

A future with no scammers, no scalpers, no fraud and no monopolies. FEHU will leverage technology to improve how artists, audiences, vendors, management and the press experience online and offline events. TL;DR? Watch our explainer video here.

The questions

VG: What milestones have you achieved so far, and what are the next major milestones on your roadmap?

BR: We have a clearly defined roadmap which we keep delivering on. So far, we have:

• Recruited our team and completed a thorough market and competitor analysis

and industry gap analysis 

• Designed our solution(s) to tackle the market needs, our corporate identity and mobile and web apps.

• Made smart contracts, got them audited and minted the FEHU token on the Polygon Mainnet

• Started the FEHU token pre-sale

• Building relationships with partners and exchanges

• Listed on Switchere in Europe and KoinBX

• Held our first event in Monaco GP 2024, and are busy signing up the next ones.

We are building our NFT ticketing platform and keep getting closer to the next significant milestones:

• Launch the FEHU App MVP - the first version of our app

• ICO ending September 12, lockup period ends, vesting period starts where tokens can be released into the open market

• Commercial launch

VG: Where do you see your project in the future?

BR: In 1 year, we see ourselves: 

• Having fully launched the Fehu app, with a lot of small and mid-sized online and offline events successfully hosted with the app

• Being a major player in the NFT ticketing market in terms of tickets sold

• Having the FEHU App is marketed in some countries

• Having a well-balanced token demand and supply

In 3 years, we see ourselves:

• Having Viking Fehu as a global player in the NFT ticketing market

• Having entered the larger event market

• Having built an organisation for effective sales and marketing

• Being in the forefront in terms of technology.

In 5 years, we see ourselves: 

• Becoming the go-to NFT ticketing platform for all kinds of events, online and offline, big and small

• Being technologically and commercially in the forefront of the industry

VG: What unique problem does your cryptocurrency aim to solve, and how is it different from other projects in the space?

BR: The soon-to-be $1 trillion events industry still faces significant challenges. From a US monopoly (which sees the US government suing Live Nation and TicketMaster) to fraud and scalping issues and personal data being leaked in massive hacks, the industry is definitely in need of a technological revolution.

In addition to servicing offline events, the blockchain technology fits perfectly to the online events industry as well.

Viking Fehu seeks to be different by solving problems for all stakeholders related to events, like event goers, artists, organisers, managers/agents, vendors, partners and press.

The FEHU token is an actual utility token, as is outlined in our whitepaper.

VG: What is the value unlocking you can see in the price of the token compared to the current price?

BR: Basically, the more tickets purchased with FEHU, the higher the demand for the token.

Regardless of the currency each ticket is purchased for, to utilise the functions of the blockchain opportunities, every transaction will automatically be exchanged for FEHU under the hood. From a financial perspective, this will affect the demand side of the token. 

The supply side, in the same process, will come from the payouts to the stakeholders of the events. There will be a difference between the demand and supply, which is how the company will make its profit - and how each ticket will increase the net demand. And there will also be a delay between the purchases and the payouts, keeping demand up.

Being a massive market globally, having even a small fraction of the market share, the numbers can be huge.

We see the exploding interest from the community and industry. Waiting for a modern way of solving ticketing to enter the market. And we aim to take leadership in that market space.

VG: Are there any upcoming technical upgrades or features that you're excited about?

BR: The events industry is on track to become a $1 Trillion industry. seeing technological innovation propelling this growth while enhancing transparency and security.

By leveraging decentralised blockchain technology, cryptographic security, and smart contracts, we aim to eliminate the single points of failure inherent in centralised systems.

Introducing Polygon Miden to Viking Fehu to support client-side proving and increasing throughput in our application. The transaction speed will be extremely high.