An All-in-one NFT and Web3 Solution for Brands
Luis Carranza talks to Crypto Daku about tokenomics, the Fayre Dashboard, and competitors
PART 1: OVERVIEW QUESTIONS WITH CRYPTO DAKU
Qu 1.1. How did you get introduced into crypto, and what has been your journey thus far?
Luis: When I was running a Global Innovation Day for Western Union in 2012. I had heard of Bitcoin around the end of 2011, but I hadn’t really taken notice until that day: we had to educate the payments sector on future technology.
I tried to buy some miners in 2012, but failed. Butterfly Labs wasn’t shipping for months, so I had to bail — now I wish I had reinvested in crypto. Then I launched London Blockchain Week and Fintech week in 2014, and saw everything from enterprise, to ICOs and STOs.
We helped to launch IOS with a four-city roadshow. We had Ethereum and Bitcoin Foundation on stage in 2014, and Joe Lubin in 2015, so I’ve been a passenger in the crypto world for a while. It’s good to be driving a project this time, for a change.
Qu 1.2. Can you tell the community more about the project, the idea, and how it started? Especially, why is it needed, and how is it disruptive?
Luis: I came to the UK in 2008. I was hired to help brands navigate Web2 — social, mobile and digital. I see a lot of parallels now with what happened back then.
I launched Fayre to create the tools that brands need to engage in Web3. They are just starting to join, and their journey involves a mixed bag of tools: landing page, Discord, OpenSea, traditional PR, design — they are still figuring it out. For this reason, the toolkit we’re creating allows them to launch projects without a landing page, Discord or OpenSea.
After the launch, we have an app that allows them to take NFTs out into retail, stadium and festival environments. Using this, brands can manage NFT drops, then communities, and integrate with loyalty programs, and even retail.
Additionally, we offer strategy and design to make it even easier and more convenient for brands. We are already working with some high-profile names and have MOUs with celebs and other entities.
We want to be the gateway into Web3 engagement for brands.
Qu 1.3. Can you tell us about the market share you are trying to win, your competitors and your SWOT analysis for your offerings?
Luis: In some instances we compete with OpenSea or LooksRare — our Marketplace is coming in less than two weeks. We have lower fees, starting at 1.5%, and users can reduce transaction fees to zero, either by staking $FAYRE or by buying a FayreCard NFT.
The Brand Dashboard is designed to offset the need for Discord, which can be somewhat chaotic. We’re not a replacement for Discord, but you will be able to manage your drops and community in one place, communicate with NFT holders, and allow them to have communication with each other.
Our NFT drop system allows brands to bypass the landing page, launch on Fayre, and connect directly to market. In fact, our NFT companion app is so innovative that it doesn’t have a competitor — it turns NFTs into vouchers and loyalty cards.
We’re creating an entirely new way to engage in the real world, so it’s an ambitious project. We even see some competition from platforms like Hootsuite.
We can help to manage Web3, social, and potentially even create an add-on for Web2 management.
Qu 1.4. Who are your advisors and backers?
Luis: We have a great team: Outlier Ventures, Protocol Labs, Insignius Capital, BMW Capital, Titans Ventures, and a few others. We even obtained a Polygon grant.
Qu 1.5. Can you tell us about tokenomics, token utility and TGE?
Luis: The token utility is easy. It starts with removing transaction fees from the NFT market — that’s the main benefit. If you stake 25,000 $FAYRE for 90 days, then you pay zero transaction fees when buying and selling NFTs. We also have some governance and rewards based on activity in the market.
In addition, the token will also allow you to receive future airdrops of special projects. The tokenomics are straightforward — less than 5% will be circulating at TGE and gradually more will come online.
PART 2: QUESTIONS FROM TELEGRAM COMMUNITY
Qu 2.1. In what other ways will you build the popularity of your project?
Luis: We’re taking our message to the world — we want to bring on more brands. We’re also speaking at NFT.NYC, so lots of exciting things to come.
Qu 2.2. What is the most ambitious goal of your project?
Luis: We want to help to bring 10 million new people into NFTs over the next two years.
Qu 2.3.Can you briefly describe your partnerships thus far, and any new upcoming partnerships?
Luis: Our current partnerships are in sports, but more celebs and brands are in the pipeline.
Qu 2.4. Do you feel satisfied seeing your progress and achievements up to now, from the day when you started the project?
Luis: Building a project of this scale has been a lot harder than anticipated. We’re extremely proud of the progress we have made so far.
Qu. 2.5 What is your strongest advantage that will make your project lead the market?
Luis: We know brands really well, in terms of what they need, and we also understand crypto well too. So we’re in a great position to be launching.
Qu 2.6. What motivated you to create your project? What issues are you looking to solve? What do you want to change about crypto?
Luis: We know that the world is changing, and Web3 is the next iteration of connected technology, with embedded payment rails. We’re looking to build the future, along with other Web3 companies.
Qu 2.7. Have you been audited?
Luis: Yes, we have been audited twice — by CertiK and another firm.
Qu 2.8. Can you list 1–3 killer features of the project that put it ahead of its competitors?
Luis: Our NFT companion app, the Brand Dashboard, and our decentralised loyalty offering.
Qu 2.9. Almost 80% of investors tend to focus only on the token price in the short term, instead of understanding the real value of the project. Can you tell us about motivations and benefits to hodling?
Luis: Web3 is the future — not just short-term. We are just getting started!
Thanks for joining, Luis. It was a pleasure hosting you.
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