Fanfare is a blockchain based social ecosystem designed to meet the increasing needs of the use of social media in commerce activities. Currently, there is no bridge between brands, content creators and the users, where they could potentially utilize the advantages associated with social commerce. With an advancement in technology, e-commerce has emerged to be the biggest industry in terms of revenue generation and increased adoption of smartphones. How Will Fanfare work?
FAN token is the native and utility token of the platform which will be used for the exchange of value between the stakeholders. Content creators will receive their incentives and rewards in the form of a FAN token by the brand owners. The activity of the users will be to convert the user-created videos into shippable videos. Thus, users who will produce a productive video will help the brands to increase their sales.
Essentially, the platform is an e-commerce store which will work as a marketplace for different products. People spending time on watching those videos will also be rewarded in the form of FAN tokens which can be used to make purchases on Fanfare e-store.
What Fanfare offers?
The ecosystem is multi-rewarding and some 200,000 users, 200 Brands, and ambassadors from 28 countries have already joined it. The main three benefits it offers are as follows:
You can share your content to boost your business growth and build confidence among stakeholders in a sustainable manner
It offers a win-win scenario for all the stakeholders who can get incentives and rewards
It unlocks the new value of your stuff by converting user-generated videos into shippable videos.
The aim of the platform is to host more than 5 thousand brands, 25 million users and 5 million videos for generating a revenue of about $1 billion.
Using Videos as an effective tool for marketing
There are several marketing tools that businesses use to expand their reach but these tools keep changing with the need of time. Today, brands are preferring videos over other marketing techniques keeping in mind their effectiveness. The impact of word of mouth of customers is undeniably overwhelming and this is the reason Fanfare has used this tool to benefit all the industry players. It has the power to break the barriers and attract new customers to become members of your brand. Marketers prefer videos over visual images, blogging and other popular marketing means. This business model will turn out to be a successful practice which will soon find its way into mainstream social commerce activities.
Social Commerce as an emerging power
Social media is no doubt the biggest type of media where people connect, share their experiences and information, perform social activities and promote their businesses under one roof. There are no regulatory barriers to performing any kind of action and you can also reach out to a maximum number of digital audiences through social media. According to a survey, more than half of social media users are brand followers. According to another finding, people spending their time online devote 1 every 3 minutes to social media activities. It has progressed to become the biggest source of news and consumer research as well. With this much emergence, it can be concluded that Fanfare will be seen as a prosperous venture in coming days. Useful Links:
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Digital_Lord
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