Current social media platforms and current e-commerce platforms do not allow brands and brand owners to effectively tap on the power of user generated content because of intermediaries and limitations.
I see two types of content creators on social media. The first type are your professional content creators. These are people who are passionate about creating content because this is what they do and this is how they earn a living. The other group I see are consumers. These are the everyday people that just post videos about the thing they like on a daily basis. They do it because they want to share to their friends, to their families what they have been eating, where they have been going and what they have been buying. I am a part of this group.
I came to know that whatever we post on social media platforms, these platforms monetize this content but they are not rewarding these content creators, these consumer influencers who have posted their videos on these platforms.
FANFARE PLATFORM
Fanfare is developed to solve this problem. Fanfare's building blocks have social commerce in mind from the very beginning. Fanfare now allows brands to have a direct and intimate relationship with their fans and content creators. So basically, Fanfare is creating a universal platform and a universal currency.
In traditional platforms, when a brand likes a certain video that has been posted on social media, the brands will have to find ways to contact this content creator either through an agent or directly. And then, they will go through the hassle of negotiating a price to use this content. This is a very lengthy and cumbersome process. What Fanfare is proposing is a "buy" button on their fans' content making it into a shoppable video so that other consumers can buy their product.
Integrating with the blockchain technology allows Fanfare to decentralize the entire platform and also harness the benefits of blockchain technology which will provide even greater benefits to all the stakeholders. Transparency, immutable transactions, equitable rewards are some of the benefits of blockchain which will create a better social commerce experience for everyone.
ICO AND TEAM
The FAN token is the common currency used in the Fanfare social commerce ecosystem. The FAN token is an ERC20 token on the ethereum network. There will be 400,000,000 FAN tokens in circulation during the ICO. Brands use FAN tokens to verify a fan video or to convert it into a shoppable video. Each video can hold up to four products. If more than four brands actually love that video and want to add a buy button to that video, they have to out-bid each other.
I must say that the team on this ICO is one of the best and can do wonders. No doubt the team is experienced and capable to deliver the project. A strong team which is backed by strong advisors is a plus point.
CONCLUSION
Fanfare's aim is to revolutionize how online shopping will be in the future. I am talking about instant shopping by watching a video. No more browsing through catalogues of products, no more trying to identify the product on an online store. If you watch a video, you like what you see, you can purchase it. Also, they have a working prototype on playstore and itunes. However, I don't find the product new and the vision is also average. I am pretty skeptical about the token rewards. They need to offer some value or else no one will use it. It came to my notice that the hard cap is pretty high. I mean, higher than what would be appropriate. I cannot figure out the need of such high hard cap. All in all, the project is above average. But, I would advise you to hold your investment until the token economics are clear.
Website - https://tokensale.fanfare.global/
Whitepaper - https://tokensale.fanfare.global/files/Fanfare_Whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=4488699.0
Telegram - https://t.me/FanfareICO
Published by - dannywhelan
Btalkprofile - https://bitcointalk.org/index.php?action=profile;u=1606458
