FRIENDZ: Peer-to-Peer Word of Mouth Influencer Marketing
Friendz, the social media network that connects brands directly with their audience, has opened its ICO to the public. The app will release a digital currency called the Friendz Coin (symbol FDZ) that will be used by brands within the app.
It is believed the introduction of this cryptocurrency will attract even more brands to this innovative social network and that the Friendz coin will become the primary tool used by businesses to connect with their target audience all over the world.
What is Friendz?
Businesses that sign up to Friendz can set tasks that allow people to engage with their brand, perhaps by performing market research tasks or creating unique branded content, for example.
The Friendz community who complete these tasks can directly support the brands they - and are rewarded for their efforts. It's a win-win for everyone involved.
The introduction of FDZ will allow this rewards system to continue with all the advantages that cryptocurrency provides (added privacy, no conversion fees, the potential for capital gains, etc.)
Friendz has been downloaded over 200,000 times and boasts over 40,000 monthly active users. More than 12,000 images are uploaded to the website every day.
There are over 200 clients working with Friendz, including several multinational companies.
The larger this innovative social network grows, the faster the value of Friendz Coins will grow, so it could well be worth getting involved in the ICO while its value remains relatively low.
How will the Friendz ICO work?
An Initial Coin Offering (ICO) is the most common way that businesses can raise the funds to create a new cryptocurrency. Those who want to invest in a cryptocurrency buy ‘tokens’, which can later be exchanged for the coin, once it is made available to buy on cryptocurrency exchanges.
On March 1st, Friendz launched its ICO with a minimum goal of selling 50,000,000 FDZ. In the first 48 hours, more than 350 Million tokens were sold. Currently, they are around halfway towards that goal. The hard cap is 750,000,000 FDZ. The value of the tokens will rise as the ICO goes on. It currently stands at 0.067 USD. The ICO will end either on March 21 or when the hard cap is reached.
What differentiates this ICO from others is the fact that Friendz has created a system to guarantee priority to smaller contributions and maximise the number of participants. That is because one of Friendz primary goals was to make the advertising process democratic. In this perspective, Friendz decided to defend its army of little goldfish, giving them priority access to the token sale on ICO launch day.
What will FDZ be spent on?
The revenue raised from the ICO will be used to grow and expand Friendz on a global scale. The company currently has offices in Switzerland, Italy, and Spain, but has planned to make a name for itself in Central Europe by Q2 2018, expanding to the Nordics and Eastern Europe in 2019, followed by the Americas, Asia, and Australia by 2020.
In the meantime, businesses will use FDZ to purchase services within the social network. Users will be paid for it and be able to use it to unlock special features and premium services, should they desire.
To find out more about Friendz, visit them at: https://friendz.io/