Fanfare: An Initiative towards the Social Commerce Ecosystem, powered by Blockchain technology
In the last three decades due to technological advancesthe e-Commerce marketplace has progressed rapidly, while the increasing popularity of smart phones and affordable data have revolutionized the Social Media landscape. This gives rise to Social Commerce, a new way of online shopping, where social media will be collaborated with e-Commerce. Brands and brand owners are not equipped to effectively tap on the huge amount of user-generated content and at the same time several users and content creators are inadequately rewarded for their efforts.
The problems faced by the current e-commerce/social media platforms are:
• Plugging gaps and not integrated
E-Commerce platforms integrate media elements, while Social Media platforms incorporate shopping features. Gaps are appearing as these different platforms find suitable ways to integrate Social Commerce. These are not fully equipped for Social Commerce. They were built for sole functions of e-Commerce OR Social Media respectively. As they were never designed for Social Commerce, third party software, bots or mini platforms fill the gaps, and the integration is never smooth, thus creating limitations.
• Untapped resource and high AD spend Current platforms pay emphasis on monetization through cost per clicks or advertisements. This fails to tap on the potential of Consumer Influencers, and lacks emotional engagement between brands and consumers, resulting in higher and unnecessary advertising spend by brands. Millions of consumers in the world are posting videos of the products they use, in the form of unboxing videos, review videos, fun videos or creative promo videos, which are engaging, informative and authentic. But these consumer-generated videos are not utilized to their full potential. This is because platforms either restrict brands to only monetize their own brand videos or charge a high fee to place advertisements within viral consumergenerated videos.
• NEW PURCHASING BEHAVIOUR Consumers seek more information, reviews, and recommendations, reliable Wordof-Mouth Videos have become a core part of the purchase decision process. This shift in and proliferation of touch points compel brands to find ever more efficient and cost-effective methods to fulfill demand for the right consumers at the right time, and manage word-of-mouth in the right place.
Solution offered
FANFARE is the newest approach towards Social Commerce. It's unique model changes the way in which social media users interact with brands and vice-versa, bringing more benefits to every stakeholder and creating a better social commerce experience for everyone.
The platform comprises of 2 separate apps for making, editing and converting consumer-generated videos into instant Shoppable Videos for brands. On one hand, Fanfare allows consumers to upload videos of their favorite brands/products, which can be converted into shoppable videos (by Brands) for other users to buy these products directly. Rewards are given to content creator and consumer in the process. The functions on the Fanfare User App are view and upload videos, buy products, take part in campaigns and vote for winning videos in campaigns. On the other hand, Fanfare enables brands to convert these consumer-generated videos into shoppable videos easily. The functions on the Fanfare Brand App are verify videos and adding it to the brand channel, add a BUY button to a user-generated video, create campaigns and make announcements to fans. Through a unique Video Verification feature, brands can aggregate all the videos created by their fans into their own channel on the Fanfare platform.
Transparent and immutable transactions, no intermediaries, that is, highly efficient transactions with faster and greater distribution of rewards and meet the needs of the unbanked and underbanked are advantages of the Blockchain associated platform.
Token information and team
The Crowd-Sale starts from 17th August 2018 and ends on 31st October 2018. The funds will be spent on sales and marketing (40%), research and development (26%), operations (21%), and network expansion (13%). The team working on the project comprises of individuals who are experts in the fields of Blockchain, engineering, commerce and management.
Conclusion
Fanfare, an incredible platform, will enable users to buy products directly from their favourite brands through consumer-generated shoppable videos. The Shoppable Video can be linked directly to any major e-Commerce marketplace selling the brands’ products. This makes Fanfare an open and universal Social Commerce platform, with the potential to engage millions of consumers and brands in the e-Commerce universe. It will transform the future of Social Commerce and become the largest and trusted marketing platform for consumer-generated shoppable videos.
For more details visit
Website: https://fanfare.global/
Whitepaper: https://tokensale.fanfare.global/files/Fanfare_Whitepaper.pdf
Telegram: https://t.me/FanfareICO
Published by:Pooja Jur
Btalk Profile: https://bitcointalk.org/index.php?action=profile;u=1217469