The e-Commerce marketplace has progressed rapidly in the last three ecades due to technological advances, while the proliferation of smart phones and affordable data have transformed the Social Media landscape.
This gives rise to a new way of online shopping – Social Commerce, where social media will eventually be integrated with e-Commerce.
The global Social Commerce market is projected to reach US$165.59 billion by 2021, growing at a CAGR of around 34%.
However, brands and brand owners are not empowered or equipped to effectively monetize or tap on the enormous amount of user-generated content, while at the same time, many users and content creators are inadequately rewarded for their efforts.
This fragmented brand-consumer relationship and the lack of a closed-loop interconnectivity between content creators, brands and users have resulted in a Social Commerce environment that is unable to realize its full potential.
The Fanfare ecosystem aims to resolve this problem. Using the ERC-20 Fanfare Token (FAN Token), we are building a Social Commerce ecosystem where content creators, consumers and brands can connect intimately via the exchange of value through FAN Tokens.
The FAN Tokens would be used by the brands as a reward mechanism for content creators by converting their user-generated videos into shoppable videos. This allows every user-generated video to have the potential of becoming a point-of-sale for brands, thus making the entire social platform a marketplace for products.
Users would also be incentivized for time spent on watching videos created by their friends or other consumers. Users can, in turn, use the FAN Tokens they have received as rewards to purchase products from the Fanfare eStore.
Consumers who purchase products from the Fanfare eStore could further benefit from attractive discounts or additional rewards.
Fanfare Global Pte Ltd, a Singapore-based company, has created this Fanfare ecosystem.
The company is managed by serial entrepreneurs, successful business owners and professionals – from media, legal, marketing, finance and investment backgrounds with decades of combined experience – and is also backed by an investment firm.
We have already built the most comprehensive centralized Social Commerce platform – The Fanfare App.
Rated on May 13, 2018
Rated on Aug 1, 2018
Modified on Aug 1, 2018
I see commercial use for this, although it needs to have vitality nailed down to succeed. Many social commerce networks have difficulty gaining traction. I’m not certain of the Blockchain use for this fully, but will keep updated on their progress.
Rated on May 21, 2018
The reward system will only work if the users are incentivized by a token that actually has value. In the "uses of tokens" section of the whitepaper it does not appear that there will be any "real" value to the tokens in both the short and long term due to the fact that they are intended to be used solely within the ecosystem. no mention of exchanges.
the milestones indicate that the wallet will not be ready until Q1 2019 and the estore Q3 2020.
I do not see any value or ROI to an investor.
I do not believe this to be a good investment.
Rated on Aug 25, 2018
The concept and vision is unique and interesting to me. Developing videos for a purpose is a great way to both enjoy people’s habits and monetize it.
Team is a bit thin as it is required a lot of PR and marketing efforts in order to change behaviors of youtubers who can still monetize their videos to use your platform.
Rated on Jul 12, 2018
A project that gained the demand of the market.
"The minimum campaign budget is 2,000 FAN."
Is this a fixed price regardless of the market price of the token?
Also, how do you avoid the risk of user leakage when similar services emerge?
Is there an advantage, for example, when a service that distributes points that can be used for Fiat or purchase appears instead of a token?
I hope this will be clarified.
1. For campaigns, it is possible that we will decide on an Algo that could make real-time adjustments to the campaign fee based on the market value of the FAN Token. It is also possible that we will let the market forces decide on how much is a campaign worth. We can also fix it with a more stable currency like USD, and let the FAN fluctuate accordingly.
2. I think many Apps would love to know the answer to this question. It’s always about being faster and more nimble. Creating loyalty among users is not difficult if you constantly listen to what they want.
3.If you are asking why do we tokenise our Social Commerce platform, we believe that it is important to have a decentralised ecosystem as what blockchain will provide. It’s also a way for us to help brands get into cryptocurrency and to try to popularise the concept of accepting crypto as a way of payment or for transactions.
Rated on Sep 10, 2018
There were many projects in the venture capital industry that tried to link youtube and retail. But most likely, this problem cannot be solved without blockchain.
It is interesting to see how the project will be develop. The project has an MVP already and has a pretty strong team.
Rated on Jul 6, 2018
Team is good and experienced. They are connected with lots of brands. They have good number of experienced ambassadors too ..... About the product they have a nice apps in Google playstore ... which is fully complete and a working product. Thanks to the CEO for sharing all informations .... best of luck team
Rated on Jul 9, 2018
Good team and good advisors, but I am not sure if people will actually use it. The token rewards will only work if they actually have some value, else no one will be motivated enough to use it.
Rated on Aug 7, 2018
A strong team. The fact that they already have a lot of brands on board boosts confidence in the platform. KYC is complete. Another plus is that they already have an app on the app store and play store.
However, token reward system does not provide a value proposition.
Rated on May 22, 2018
Team has done ICObench KYC,consisting of a big amount of advisors. Fanfare is already available on iOS and Android so that's a + for product. 20% for team and advisors is a bit high in my opinion but will be locked for 2 years with vesting period.Unsold tokens will be burned. Vision is ok,but big amount of competition in the advertising space.
Rated on Jul 10, 2018
Team and advisory board is good and experienced . KYC Complete. Good thing is they have number of ambassadors.
Soft cap and hard cap is responsible for this project.
Have MVP and online of both OS Apple and google playstore. which is fully complete and a working product.
Best of luck team and this project.
Rated on Jul 6, 2018
A really strong team complimented by a decent advisory board is always a good starting place for a project, and there is little to fault this area of the project.
The vision is quite generic, and dare I say it, stale, in that while the project will fulfil an interesting niche in the market (social network disruption), the rewards, incentives and use-case are relatively standard in their concept and apparent execution. It would have been great to see some real innovation come through that other projects in this space are exploring.
The product is sound, and exists in the app world, again its not something that really excites. I wonder if there is really a solid blockchain use-case here, and if the same could not be achieved in a non-blockchain environment with the right transaction and payment partners to create a successful company? Time will tell I guess.
And since you are familair with Decentralisation, we do not need to elaborate on the block-chain use-case.
Even if most projects/platforms can be executed without blockchain, it does not mean that they should not integrate blockchain if it makes the system more efficient and trustworthy.
Where were we before internet?
Rated on Jul 6, 2018
I appreciate they have a working product, as nowadays having at least an MVP is a must. The system works and is verified, so kudos for that.
I rated the Product with 4 as I see some things that have to be polished, but this is a process that takes time.
Overall, if the team will respect its commitments, the project sounds promising.
Rated on Jul 13, 2018
I like the fact that this has been obviously well thought out and planned, it displays dedication and a strong drive from the team. That said, however, I don't see how this is in any way unique, why it would even require its own ICO, or why the hard cap would need to be that high for a rewards platform. There are already a plethora of apps that allow brands to come on board to request a certain amount/format/kind of user-generated content for their campaigns. I do understand the excitement-factor in being able to go the other way around. It's definitely something I'd want to get on to and play around with, and possibly use, but I just don't see the differentiators as clearly. In addition, 40% of funds allocated towards marketing a user-generated/branded rewards platform? Seems a little high. Attracting your target audience and getting adoption at some level seems far easier than that I feel.
Still, I do want to see how this can play out. Good luck, all!
Rated on Jul 27, 2018
First things first. I saw that many experts consider the team experienced. I don’t agree with that. Other said that the token will be priceless. If the project will be successful the token will have some value. But no one mentioned the fact that there is no need for implementation of blockchain in this project. In fact my opinion is that blockchain is putting some constraints to this project because it makes the FIAT currency transactions inconvenient. The team actually tries to raise money by exploiting the blockchain hype.
What concerns me the most though is that the engagement with both influencers and brands will be limited to say the least. Even if 40% will be distributed for marketing purposes, it is still not enough to engage the desired amount of visitors to the platform.
Simplified....... Ask yourselves. How many people you think they will visit the platform?
Not everybody has access to FIAT currency, or a bank account, or a credit card and Fanfare reaches out also to the 1.5billion people that are considered unbanked.
If you read our whitepaper, we are not an influencers platform, we are creating s Social Commerce platform where Consumers can interact directly with the Brands and Brands can reward their fans.
Within a year of the APP launch, we have over 150,000 downloads that we use as our beta testers to test each integral part of the ecosystem - Video Campaigns, Reward System, and Redemption Store.
Hope you can try out the Fanfare App!
Rated on Aug 28, 2018
Team seems like a winning combination of professionals. Strong advisors and partners.
The idea behind the concept is solid and the social commerce market is huge. So no complaints there! This is a market ripe for disruption.
The only issue I see is the token. There is no inherent value in it. The only reason it would be worth something is through speculation. And then we get into the common crypto problem that when your token becomes worthless, people leave your platform in droves. This is a huge issue that needs to be addressed!
I wonder if this might be a better project without tokenization. Decentralization is not really so vital here, plus the token could easily be replaced with fiat money.
Rated on May 24, 2018
Vincent, Benny, and team have thought this out and have come up with a scaleable and realistic way of enhancing social commerce. Coming from an ecommerce background prior to blockchain, I personally think this is something that is needed, as well as beneficial.
Rated on Jul 13, 2018
Fanfare is a social commerce project with crearly seen necessity of a token withing the platform. The team is strong and well diversified. The idea is not really new and innovative but still very perspective. It has to been seen how well they are able to execute it. Wish them luck.
Rated on Jul 10, 2018
Video sharing marketing tools are definitely a promising trends especially when we consider Asian market and South East Asians are a well-known mobile entertainment stuffs lovers.
Trustful team and advisory board, very nice done White Paper with simple a affordable explanation of a Blockchain tech utilization, a lot of ambassadors involved to the project, fair numbers and projection.
Guys are going to generate US$1 billion worth of social buying, wishing luck!
Rated on Jun 5, 2018
Modified on Jun 5, 2018
Team: Team looks quite strong, especially if talking about advisory board where are well-known and high-reputation people. I give 4 at the moment, as the verification is not passed yet.
Vision: Vision looks really nice and there is definitely good potential if the market will accept Fanfare, as UGC (User Generated Content) is one if the major marketing direction for upcoming years.
Product: The product logic seems to be very easy for both - users and brand owners; however, the question is if it really solves the problem in the market. I am going to meet Founders of this project in Singapore and will talk deeper about this. After the meeting the comment and potentially the rank will be changed.
Rated on May 21, 2018
As a leader on the brand partnerships space for 20 years, I can see how this next gen consumer-generated video platform can really be a game changer in the social commerce space moving into a crypto-charged new works.. brand-customer engagement.
Rated on Jul 12, 2018
Projects that develop in the field of social networks are very interesting. There is a well-thought-out idea, a good team and correct positioning. I think this project is doing well and Fanfare will be successful.
Rated on Aug 9, 2018
Modified on Aug 9, 2018
This project has some great people on their advisory boar and a few good team members with successful experience. I believe that the people is the main force for a successful delivery of the product. It's also great to see so many social media followers. However, I don't see a massive user traction and especially retention without the good incentive models. The gap between Asia and the rest of the world might be an issue for scaling as well.
Rated on Jul 7, 2018
The social e-commerce community is one that is rowing everyday. Videos can have a greater affect on grasping consumer attention. The key here for Fanfare will be, will the additional attention help with sales?
I'm assuming the quality of the videos will play a role in getting attention for the product.
The team and advisors look experienced in the arena of marketing and media so this is a definite bonus for the project.
How quickly it is adaptable by the masses will determine success for Fanfare. In today's technological world, anything can almost go viral at anytime. Best of luck to the Team!
Rated on Jul 19, 2018
Modified on Jul 19, 2018
I love this idea. Social commerce and affiliate marketing on a macro level is the future of digital marketing, and this gives an awesome platform with transparency for both sides to be a part of that.
A couple of possible flags though:
- The tokenomics need some work. At the moment there's not much going on there outside of people being paid with it, and yes, it'll be listed on an exchange, but just because it's listed doesn't mean it automatically has some long term value. This needs work, and a reason to have actual value as a reward currency. The whitepaper just has a very vague "oh more money will come in and increase value". How? Quite a bit of work needed here.
- Some doubts on the team as well. They've got some decent experience in other fields, but none really in social and affiliate marketing which is the core product. You don't need heaps of blockchain advisors or people, your core product is the social commerce which there's not enough experience with.
Also the hard cap is pretty darn high. No idea why it needs to be that much. That's like Series B funding in the VC world for what should be Seed-Series A funding max.
Our core product is a Social Commerce platform and not social and affiliate marketing. We solved a very important problem in the Ecommerce Space where Brands are able to convert a User-generated content into shoppable videos. Fanfare is a 2-sided app where Brands can directly connect to their fans and their video content.
Do download the Fanfare app to get a better picture of what we are doing. You will like it...
You are perfectly right that Fanfare is in Series B in regards to Token Financing.
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TeamApply as an advisor
Lee Young Mo
Fanfare App development begins.
Beta launch of Fanfare App with 20,000 users.
Official launch of Fanfare App.
Fanfare App hits 150,000 downloads.
Official launch of Fanfare Brand App.
Preparation for ICO.
Private Sale starts.
PreICO sales starts
Basic wallet to be up.
Complete Fanfare wallet.
Integration of wallet into the Fanfare platform functionality.
Complete the Fanfare eStore