An Italian-born startup has applied Blockchain to develop a peer-to-peer electronic system that taps the ability of word-of-mouth marketing and advertising on social media.
Friendz, with workplaces in Milan, Rome and Madrid, allows corporations to interact armies of social media consumers to boost their brands. Buyers get rewarded for creating and sharing material on brands with their buddies. The startup was co-founded in 2015 by the trio of Alessandro Cadoni, Daniele Scaglia and Cecilia Nostro.
With €500,000 in funding, Friendz has built a solid technological know-how system and assembled a roster of clients which includes Jeep, Disney and Reebok. According to Friendz, the three-year-aged business has operate marketing and advertising campaigns for in excess of 200 brands, creating and selling branded material with the aid of 200,000 consumers with a blended attain of 1.5 bln. In 2017, the business claimed €1.2 mln in revenues.
Friendz opened an ICO on March 1 and has now carried out much more than 20,000 transactions from around 14,000 micro contributors. It has sold 22 mln ETH.
One of the couple marketing and advertising corporations leveraging the ability of Blockchain, Friendz is betting on reduce-expense, decentralized marketing and advertising on social media, as electronic advertising spend steadily grows.
Electronic advertisement spending to be well worth $378 mln in 2021
World-wide advertisement spending is projected to rise to $757 bln in 2021, up practically 30 p.c from $584 bln in 2017, according to eMarketer.
In 2017, electronic advertisement spending overtook tv advertising for the 1st time, as it arrived at $209 bln throughout the world, according to Magna, the investigate arm of media buying agency IPG Mediabrands. In 2020, Magna expects electronic advertisement spend to account for 50 p.c of all ads, up from 41 p.c in 2017. The electronic advertisement sector could be well worth an believed $378 mln in 2021 if 1 extrapolates Magna’s estimate with that of eMarketer.
If the two sets of data again Friendz’s business potential customers, Nielsen’s World-wide Have confidence in in Advertising lends even larger help to its “word-of-mouth” model. According to its seminal 2015 study, in which the leading New York media agency surveyed in excess of 30,000 individuals, 83 p.c of individuals foundation their acquire conclusions on tips from buddies and loved ones or “people we know and have faith in.” Also, 66 p.c have faith in purchaser viewpoints posted on the net, the third-most-trusted advertising format.
Friendz eyes B2B business as well
Currently, Friendz targets B2C corporations to develop its business, but it has its eyes on B2B corporations as well. The business believes its adoption of Blockchain not only tends to make its system safer and much better but, notably, enhances its business model and very long-phrase potential customers.
The technological know-how would allow its system to be applied by each and every variety of business in will need of artistic material, or even “every on the net action-as-a-support,” Friendz has reported. Illustrations of likely new services that can be enabled on the company’s system include things like application critiques, bug testing, sector investigate and lead generation.
Currently, Friendz is lively in Italy and Spain and proposes to develop its business to other parts of the earth, setting up with the rest of the European nations around the world, The usa and Asia.
FDZ coins to be stated on major intercontinental exchanges
The FDZ coins are dependent on ERC20 and are currently being supplied at about $.067. The ICO has a smooth cap of 50 mln FDZ and a challenging cap of 750 mln FDZ. It will be possible to trade the coin on the most renowned intercontinental exchanges at any time after the summary of the ICO, the business reported.
Tokens bought through the so-known as Electricity Hour been given a 40 p.c reward and are locked for 1 year. The coins will be unlocked proportionally in excess of 12 months. The stipulation, Friendz reported, would suppress speculation this kind of as ‘pump-and-dump’ approaches, and continue to keep the worth of the FDZ cryptocurrency secure.
Friendz strategies to use the ICO proceeds to develop its business abroad, produce a larger world-wide community and for more technological know-how improvement.