FlipNpik FAQ
What is FlipNpik all about and what’s its mission?
FlipNpik is revolutionizing digital marketing for local businesses by creating a collaborative ecosystem that not only benefits local merchants (increasing their visibility) but also gives back to users (monetizing their contribution). Hence this is a mutually beneficial ecosystem where all components are dependent on one another’s success.
https://www.youtube.com/watch?v=tq5fEPJ6nGE
Our mission is to enhance the quality of life in local neighborhoods on a global scale. We want to forge a sense of community by letting everyone create and share value within the ecosystem which will in turn lead to improving local economies worldwide. That’s the goal, that’s the mission!
How does the entire ecosystem work and where do you see blockchain system making the possible difference?
The Ecosystem is simple — we offer a platform where local businesses can have a business profile and post quality content on it. Users can discover those businesses in different ways like by geolocation or on the FlipNpik page where they swipe businesses like on Tinder.
Where the whole magic comes and the collaborative Ecosystem takes place is when users get rewarded and paid for taking actions on the app such as liking, sharing or even creating content for businesses or adding businesses on the app. Plus a user who wants to play a more active role on FlipNpik will be able to become a partner ambassador of a merchant.
As an ambassador he or she can get paid up to 20% of the merchant spendings for premium services in FNP tokens by helping the merchant gain even more visibility. With this monetization system, blockchain technology hits the sweet spot by allowing merchants to have access to fast, low cost, secure and scalable transactions with the FNP token.
Check out this video which explains the FlipNpik Ecosystem:
How are the FlipNpik tokens going to be beneficial to the users?
First of all, the FNP token has 15% more buying power than any other currency in the FlipNpik Ecosystem. Plus, users can obtain promotions, discount coupons and exclusive offers with the token. In addition, it can also be used to participate in games and buy products and services on preferential terms.
For example, thanks to signed partnerships in Asia with iFashion group, the FlipNpik token is already recognized as a token with 5% more buying power inside the iFashion group ecosystem and can be used the moment it’s issued.
For users who are also traders, when ICO is over, they can also trade with their FNP tokens whenever market conditions are favorable.
So whether it’s within the FlipNpik ecosystem or on exchanges, the FNP tokens will be beneficial for its users.
Where did the idea of FlipNpik come from and what were the initial steps taken to set up the company? Why did you decide to open an ICO?
The idea of FlipNpik came from a discovery — local businesses are struggling to compete with large retailers and e-commerce giants. These local shops rarely have the resources needed to stay in the game. This is why we pointed out that an innovative solution is required to allow them to maintain a competitive edge and we adopted the blockchain and decided to monetize the users’ contributions.
The FlipNpik application was first tested in Montreal successfully by businesses and local users. We decided to improve this idea, thanks to the technological development of the Blockchain and expand its marketing around the world. ICO appeared then as the ideal solution to answer these needs.
Why should investors contribute to FlinPik?
Because FlipNpik brings together all the conditions for success!
- Because of its value, the NVP of the token is 0.30 USD and the selling price before bonus is 0.12 USD.
- Hence there will be a huge and increasing demand for the FNP token.
- It will be listed on major exchanges so liquidity and visibility will be high.
- The investors can use it within the ecosystem to become an ambassador (and enjoy the accompanying benefits and privileges).
- The token will have an increased buying power within the ecosystem.
How many businesses are currently using this advertisement option?
We currently have over 7000 local businesses on the FlipNpik app. You can discover merchants from Singapore, Dublin, London, Paris, Montreal, Geneva and many more to come. We have signed strategic partnerships and are in the process of inscribing over half a million merchants on the platform.
https://www.businesswire.com/news/home/20180724005372/en/FlipNpik-Raises-2-Million-Date-ICO-Private
You can even add businesses on your own and get paid for it. Indeed, you can get Flip Social everytime you add new local businesses and convert them to FlipNpik tokens.
Where do you see the value of your token in the medium to long term and the ultimate benefit for the token holders?
The FNP token embodies 3 main values for the holders.
First, the utility value. The token holders can buy products and services and participate in different features within the Ecosystem as well as within other ecosystems.
Secondly, the financial value. The Net Present Value, on a conservative forecast of the token is 0,30 USD. The FNP token gives increased buying power of 15% when you buy within the FlipNpik Ecosystem and as of now 5% within another Ecosystem in Asia.
The token will also be traded on major exchanges.
Holders of the token can generate 20% of local business spendings within the ecosystem when he or she acts as an ambassador.
Finally, the token will have a community value because FlipNpik is exclusive for local businesses and using the FNP token to buy products and services contributes directly to local economies and at the same time contributes to the enhancement of the neighborhood’s quality of life. The FNP token generates increased benefit/cost of living within your neighborhood.
These factors cumulated will support the demand for the token as well as its growing value.
How did you decide the total supply and distribution among stakeholders?
The tokenomics were conceived with a team of PhD in mathematics and economics and experts in Blockchain, using a multi regression and adoption S curve models, taking into account a large number of factors, among them the potential number of users in our Ecosystem, the level of activity on the platform, the potential number of merit points collected and converted to the token over the years and so on. The critical basis of our model is the sustainability of the market value of the token by its intrinsic value over time.
Our model is built around the fundamental of creating and sharing value. At FlipNpik we believe in the power of the masses and that all together, we can achieve great things. That’s why 50% of the tokens are dedicated to partnerships and for social reserve, both only released against value creation within the Ecosystem. 15% of the tokens goes to marketing and management (present and future team) and 35% for the fundraising.
Who would you consider to be your competitors in the blockchain based social media platform?
Other ICOs are also working on providing solutions to the retail crisis with decentralized solutions. Platforms like Storiqa and Bezop have started, but they focus primarily on launching online stores to compete with Amazon or Ebay. FlipNpik focuses on the challenge of increasing store traffic and promoting local businesses through a collaborative platform, founded on optimized marketing, that promotes quality content, gives real rewards and offers and monetizes the contribution of each user.
What worked well for your new ICO in last 6 months, what didn’t move as quickly as you would have liked?
We are very proud of the feedback we have received from the crypto community, whether IRL at conferences and events where we were present in Monaco, Berlin, Kiev, Moscow, Dubai and Singapore or also online — we read excellent reviews about our project daily.
In terms of what worked less well, we feel that investors are sometimes fearful because of the actual conditions of the macroeconomic market and also because of the scams that abound unfortunately in the world of cryptocurrencies. That’s why we stay the course and we do our best to show that FlipNpik is a credible project carried out by a real team of experts supported by equally talented partners.
Are you focusing on local merchants or big brands? Who will be your clients?
Our ecosystem is exclusively for local businesses. That’s what makes us different — we bring an innovative collaborative marketing solution that lets small, local businesses compete with big brands. Unlike any other social media, we pay users to post and share about local businesses. All local businesses worldwide are welcome on FlipNpik! We aim to improve local economies and the quality of neighborhood life.
How do you plan to connect your 360 Ecosystem on the Stellar blockchain?
The connection to the Stellar Blockchain will be gradual. We have already planned to promote the FNP token in the coming weeks, as highlighted by our recent partnership with the StellarX marketplace. We also plan to work closely with the Stellar wallets like Stellarport with whom we are in contact for some time. At the end of the ICO, the challenge will be to connect the FNP token to the FlipNpik application to allow users, partner ambassadors and merchants to benefit from our services.
How many people work on your team? How would you describe the working values at FlipNpik?
We are a team of more than 25 members, out of which 12 are full time, from all over the world: France, Switzerland, Canada, London, Singapore, and Middle-east. We all stand by the same values of creating and sharing value equitably. And this is reflected in our business model. Our ecosystem is built by the community with whom we share the value.
We also put forward innovation & creativity.
And finally, our motto is work hard and play hard.
We believe in a happy work environment where we train, sing and laugh together!
How large is the user base of FlipNpik? What are the risks that will be faced if the user base doesn’t get as large as that of Facebook or Twitter?
Very quickly in three months on the public market we have reached over 7 000 users and since the beginning of our ICO we’ve amassed a crypto community of over 20 000 members. We definitely agree that we need those numbers to keep growing in order to have an efficient ecosystem, that’s why we are making strategic partnerships in order to grow the Ecosystem and to show all investors and believers that the FlipNpik team makes things happen! We are confident that we will reach our goals in the next year and have over 500K merchants and 10M users on the app. See the partnerships we have recently signed that will help us accomplish this:
https://finance.yahoo.com/news/flipnpik-announces-partnership-atayen-inc-052100627.html
We don’t see a major risk if we don’t obtain a user base as large as Facebook or Twitter as our value proposition is unique — it’s the first social media to allow users to monetize their social engagements, our business model is different from other social media and it has different sources of income derived from premium services.
After the completion of the ICO, what milestones are you focusing on adding to your project?
After the ICO we have a detailed roadmap primarily based on commercialization and development. From a commercialization point of view, we are focusing on acquisition of users and businesses in Europe and Asia. This will be achieved mainly through strategic alliances, a few that we have already identified.
As for the development, we are aiming to improve the UX/UI and adapt the App to its environment based on focus groups and market studies. And we are also adding some new exciting features to engage, reward and entertain the consumers including virtual reality (VR).
