Technological advances have enabled eCommerce companies to proliferate the global marketplace in the recent decades. From multi-vendor online markets to dropshipping stores, innovative trends have always powered this industry. But eCommerce is giving way to Social Commerce, as it eventually integrates with social media.
Enter FANFARE, the world’s first Blockchain-Powered Social Commerce platform that pioneers the reduction of barriers between brands and consumers – an inventive two-sided one-stop platform that serves closed-loop interconnectivity between brands, content creators and consumers.
The FANFARE platform is built upon three core principles:
- co-sharing content ecosystem to generate trustworthy user-created word-of-mouth videos for brands;
- a win-win-win economy for brands, content creators and consumers through a token-reward mechanism;
- value-adding to anyone by converting user-generated videos into shoppable videos.
FANFARE’s principle of operation is simple, yet powerful – an innovative content sharing Social Commerce ecosystem, where brands, content creators and consumers are connected via user-created shopping videos to exchange value.
All this happens atop a Blockchain layer. Employing Blockchain technology to power FANFARE’s Social Commerce ecosystem will offer full transparency and security to its stakeholders. The FANFARE network runs on its common cryptocurrency, known as FAN Tokens. While brands placed emphasis on building a loyal customer base, in return, customers would want to be rewarded for their loyalty. The FAN Tokens will be used as a reward mechanism by brands to incentivise the content creators to promote their products, through converting their user-generated videos into shoppable videos.
Every consumer-generated shoppable video can act as a potential point-of-sale for a brand’s products. If a brand likes the method of promotion in the video, it can add a ‘BUY’ Button directly on the consumer-generated video. Since social networks are composed of close friends, relatives, and peers, this ‘recommendation tactic’ proves to be highly-effective – consumers are more likely to purchase when they see authentic real-life reviews. This is the beauty of FANFARE’s Social Commerce ecosystem – consumers and brands are both rewarded fairly for their actions.
Additionally, users will also be rewarded with FAN Tokens when they complete tasks like watching videos generated by peers on the FANFARE App. The best part is that users can utilize these FAN Tokens to shop on FANFARE’s Crypto-Friendly eStore!
Over 5,000 global brands and 25 million users will be interacting with each other within FANFARE’s ecosystem by 2020 and experiencing the limitless potential and power of Social Commerce!
This is a press release. Trustnodes has not undertaken any verification of any of the above statements and any statement or project contained therein is not necessarily endorsed by Trustnodes. Readers are strongly urged to do your own research.