As each year passes, another resolution is made to change the way we present and market ourselves to our friends and family. Internationally acclaimed social media platforms such as Facebook, Snapchat and Instagram, have allowed our definitions of friends and family to grow into a global community. Through these types of platforms, the term “influencer” has taken a whole new meaning; it’s been re-appropriated to define those with digital stardom. These applications have indirectly created a profitable opportunity by allowing highly followed users to garner paid marketing endorsements.
An influencer marketing budget has become a norm to marketers and has not showed any signs of slowing down in recent years. Instead, many companies ranging from micro-to-macro-sized are actually increasing influencer market budgets. In the current year of 2019, the influencer marketing industry is worth 1.8 billion USD.
But what does this mean for the endorsed influencers and the endorsing marketing agencies? Influencers are motivated to sell a version of themselves on a public profile to endorse a company’s product or brand in order to receive a payout from the marketer themselves. These tend to be mutually beneficial endorsements that allow the social media user to make a profit and a company to gain maximum exposure to the influencer’s followers.
The Famecoin Dapp is a hybrid decentralized application living on the Ethereum Blockchain that pushes influencers to do what got them the following base in the first place, their passion! Approved influencers who strive to push themselves further in their department are given the opportunity with Famecoin to earn cryptocurrencies doing what they love, without the need of relying completely on third party companies for branding collaboration opportunities. Famecoin is a decentralized app that also includes a DEX (decentralized exchange) of influencer designated ERC721 non-fungible tokens living in the Ethereum Blockchain. Every influencer will be distributed unique tokens ranging in amount from 5,000–99,999 each (per influencer) that represent themselves. The distributed amount will be based on popularity, scraped statistics and overall current Famecoin influencer market. These tokens can then be purchased by investors or fans that back the support of these influencers. This will then proceed to create a supply and demand market of exchangeable tokens between influencers and potential token buyers. Our centralized pricing algorithm will combine the supply and demand weights, as well as daily scraped statistics from public profile growth in social media accounts to create the current price values of each influencer token set. In the case of a striving influencer account combined with a demand of his or her tokens, the price would continuously rise allowing those who invested to trade their tokens for generated profits. Therefore, all funds will be decentralized, but prices will be determined from a centralized server.
Famecoin Token (FMCO)
Aside from the ERC721 influencer tokens, 400 million (400,000,000) ERC20 tokens have been minted to fund the creation of the decentralized exchange as well as our centralized A.I. backed pricing algorithm. FMCO Token investors will be able to use these tokens as well as Ether (or combined) in the exchange to purchase influencer based ERC721 tokens, meanwhile creating liquidity for the FMCO tokens. FMCO tokens are intended to be listed on several Ethereum decentralized exchanges as well as at least one centralized exchange in the future, where investors can exchange unused FMCO tokens.
FMCO Token on etherscan: 0x3FEEcA6f6d6C498cD72FA1c83fDF6fCcECabbDCF
Initial Coin Offering
Famecoin has minted 400 million (400,000,000) FMCO tokens which are being allocated to ten different departments in Famecoin. Sixty percent (60%) of FMCO tokens our dedicated to the ICO (private, pre-sale, public-sale combined). All unpurchased tokens that were intended to be sold will be burned at the end of the campaign to correctly align the circulating supply of tokens. The remain forty percent (40%) of tokens are allocated to different segments of Famecoin and will remain in circulation (see Token Distribution Section).
KYC: During the private and pre-sale segment of the Famecoin ICO, Famecoin will be running KYC/AML checks internally using internal software. We are currently communicating with third party services to work with during the main public phase of the ICO, however it is currently still undetermined if Famecoin will continue to use internal software or outsource this task.
Soft Cap: 200,000 USD
Hard Cap: 3,600,000 USD