Fanfare Token Sale Guidelines

Jun 07, 2018 at 12:06 // PR

Fanfare is the world’s first Blockchain-powered social commerce community platform. A social commerce community platform is an amalgamation of the Commerce platform and the social media network.

How does Fanfare work?

You need digital marketing to promote the products in an eCommerce platform. There are various ways of doing it. You have the print media, the content marketing methods, the traditional advertisements, and most importantly social media network. Now, people love to watch videos and relate to them in a better way. People like to create videos and share them over the social network as well. It is an excellent opportunity to blend eCommerce and video sharing over the social media and convert it into an exceptional shopping experience for the consumer. Fanfare has sensed this opportunity by creating a social commerce platform.

Video content creators create a promotional video of the products and upload it to the Fanfare app. The product brands verify the videos and select the best among them to insert their “Buy” option thereby converting the videos into shoppable videos. Users can view these videos and share them on the social media. The consumers have the facility to click on the Buy option and get access to the respective eCommerce or the official website of the product brand where they can go ahead and complete the deal.

How do all parties to the deal get remuneration?

Fanfare acknowledges the contribution of each party to the deal and remunerates them using virtual currency in the form of Fanfare ERC-20 FAN token. It involves the introduction of Blockchain technology thereby crediting Fanfare with the accolade of being the first Blockchain-powered social commerce platform in the world.

The FAN token concept

Every party to the transaction deals in FAN tokens. The content creator and the user receive FAN tokens, and the product brands pay via FAN tokens.

●    Product brands have to pay 200 FAN tokens for verifying one video and converting it into a shoppable video. The platform retains 50% of the fee as commission and distributes the remaining 50% to the video content creator as their reward.

●    Similarly, users can earn these FAN tokens by watching and sharing the videos on social media.

●    The product brands can have a maximum of four shoppable videos only at any point in time. They have to bid for these product slot using FAN tokens. The minimum fee payable to place any bid is 400 FAN tokens. The product brands can offer more than these amounts. These videos remain on the platform for a maximum of seven days.

●    The brands can also launch product promotional campaigns and set up a campaign budget. The minimum campaign budget is 2000 FAN. The distribution of the campaign budget is as follows

a)    55% – Prize pool for the three winning videos

b)    15% – Vote Reward pool to be distributed among voters

c)    30% – commission for the platform      

The FAN token is the sole currency in use in the entire Fanfare Ecosystem. Product brands will have to buy these FAN tokens initially to take advantage of the services of the social commerce platform.

The FAN token Sale concept

The Fanfare Brand Partners can purchase these FAN tokens to access the features of the Fanfare Brand app, the unique app available to product brands alone.

The token sale structure is as follows

Total FAN token supply available

2,000,000,000 FAN

FAN token supply for Strategic Investors

190,000,000 FAN

FAN Token supply for Private Sale

400,000,000 FAN

FAN token supply for Pre-ICO sale

200,000,000 FAN

FAN token supply for Crowdsale

200,000,000 FAN

Unsold Tokens

Burned

Price of FAN Token

1 ETH = 10,000 FAN

Soft Cap

$ 4 million

The conditions of the sale are listed hereinbelow.

●    The FAN token creation ends on the sale of all FAN tokens or at the end of the contribution period

●    In case the amount sold is less than $ 4 million, there will be a refund of all contribution

●    Unsold tokens are burned.

There will be three different sale campaigns, the details of which are as follows.

1.    Pre-ICO Sale

Date of Pre-ICO Sale

17th August 2018 to 17th September 2018

FAN token supply allocated for sale

200,000,000 FAN

Bonus Amount

10%

Investment Amount Limit

Minimum 5 ETH, Maximum 200 ETH

Effective Price of FAN token

1 ETH = 11,000 FAN

2.    Crowd Sale Part 1

Date of Crowd Sale 1

01st October 2018 to 15th October 2018 (OR Start date to be 2 weeks after selling off Pre-ICO tokens)

FAN token supply allocated for sale

100,000,000 FAN

Bonus Amount

5%

Investment Amount Limit

Minimum 0.1 ETH, Maximum 10 ETH

Effective Price of FAN token

1 ETH = 10,500 FAN

3.    Crowd Sale Part 2

Date of Crowd Sale 2

16th October 2018 to 31st October 2018 (OR Start date to be immediately after completion of Part 1 sale)

FAN token supply allocated for sale

100,000,000 FAN

Bonus Amount

0%

Investment Amount Limit

Minimum 0.1 ETH, Maximum 10 ETH

Effective Price of FAN token

1 ETH = 10,000 FAN

How do you distribute the FAN tokens?

The allocation of FAN tokens is as follows.

a)    ICO Sale – 45.25%

b)    Strategic Investors Sale – 9.50%

c)    Costs – 2.75%

d)    Bounty – 3.00%

e)    Team and Advisors – 20.00%

f)     Reserve pool – 19.50%

Note the following important points regarding the sale of FAN tokens

a)    Fanfare will conduct the entire transaction of 54.75% of the tokens through the Strategic Investors sale, Private Sale, Pre-ICO sale, and Crowd Sale.

b)    There is a lock-in period of 2 years along with a vesting schedule for tokens allocated to the teams.

c)    The lock-in period for advisors is 1 year.

d)    There is no lock-in period for the Reserve Pool. It is for the use of the growth of the Fanfare community.

The utility of funds from the token sale

Fanfare proposes to use the funds generated from the sale of FAN tokens in the following manner

a)    40% for Sales and Marketing

b)    13% for Expansion of the network

c)    26% for Research and Development

d)    21% for Operations

To learn more, visit https://fanfare.global/.

To take part in the upcoming token sale, visit https://tokensale.fanfare.global/

Read Fanfare’s White Paper and Lite Paper here and here, respectively.

Media Contact

Name: Michael Chua

Email: michael@fanfare.global

Phone: +65 94554297

This press release is for informational purposes only and should not be viewed as an endorsement by CoinIdol. We take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy.  Readers should do their own research before investing funds in any company.

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