Friendz ICO details
Start Date: 2018-3-1
End date: 2018-3-20
Friendz is a fast-growing company whose main goal is to connect brands with their target audience, taking advantage of the most powerful marketing tool ever: the word of mouth on social media. Friendz is proud to have introduced in the digital marketing scenario a new way of doing advertising, based on peer-to-peer communication.
Friendz is a successful product that is providing services through the support of a community of over 200.000 users, continuously engaged in the activities of running the app. The community is always ready and willing to participate in the campaigns organised by Friendz, in exchange for rewards in the form of Friendz Coins. The coins are issued in order to motivate and appreciate the users for their participation in content creation and validation.
- Launched in 2016
- 35 Team members
- 200,000 app users
- 1,200,000€ revenues 2017
- Integrated Buyback model (with 30% of the revenue)
- Encouraging token scarcity model
Friendz decentralizes the online marketing industry, elevating the final user to a central position, where he can monetize its contribution to the digital advertising process leveraging blockchain technology.
Unlike famous influencers, users generally do not get rewarded through the advertising process, even if they contribute with sharing brands’ posts on social networks and interacting with companies official pages.
Friendz let users monetize their actions online in a decentralised and democratic way, depending on their skills and influence.
Friendz was born at the end of 2015 with the idea of finding a solution to a problem that companies faces in doing digital advertising, that is reaching and engaging their target audience in the communication and sharing of the companies values and message. Friendz infrastructure can control and manage a huge number of contents published, reducing costs for companies and providing strong efficiency.
Friendz introduced a revolutionary marketing concept, leveraging the peer-to-peer communication on social networks and the power of word of mouth. Friendz users are not influencers with a big audience, but normal people that use social networks everyday. The size of the audience reached is the same, but consists of the close connections of thousands of micro influencers. In this way, the advertising message shared on their profile reaches their friends in a genuine and natural way and is much more effective.
What makes Friendz special?
Friendz does not only collaborate with multinational companies through brand campaigns, but also engages users on a daily basis through the so called Fun campaigns. Fun campaigns are designed to keep a high level of engagement within our community while also providing our users with the opportunity of gaining Friendz Coins as they have “fun” taking pictures. The contents of these campaigns are, in fact, created by our team with the aim of involving and entertaining our community. The greatest advantage of taking part in the fun campaigns is that it makes the profiles of the social media users look more genuine and populated with creative and diversified contents. The participation in the Fun and Brand campaigns is regulated by a first-comefirst-served mechanism, since the number of users involved in the activity is limited. Following a meritocratic logic, users with excellent abilities of creating contents will receive the campaigns first, while other users with average photographic skills receive them later.
The order of assignation is determined by an algorithm that takes into consideration three parameters:
- USER PROFILE QUALITY
- POSTS’ REACH
- INTERACTIONS GENERATED ON THE CONTENTS POSTED
The profile quality is determined by both the rating by the approvers in the approval process and the users who have access to a dedicated wall inside the app where everyone can see and rate the pictures. The rating system is based on a “1 to 5 stars” scale. The worst quality content receives 1 star while the best quality receives 5. This score defines user’s overall performance.