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Friendz upcoming ICO: What you need to know

February 09, 2018 | By Tom Hart | 0

What is Friendz?

Friendz is a digital marketing startup with an upcoming ICO, scheduled for March 1, 2018. The firm hopes to raise approximately $40 million. Its already managed to secure around $1 million via traditional channels which bodes well for the ICO. €300,000 EUR of this came from Italian investor Triboo S.p.A. Startups that attract investors before their ICO kicks off unsurprisingly tend to perform better.

Friendz since 2016

Friendz and its app have been around for two years already. In that time its built a user base of more than 200,000 ‘friendz’. Because the company already has a successful app, its ICO is less of a risk for investors because they won’t be going in blind, so to speak. The Milan-based firm has a proven track record and, as such, its ICO is likely to attract major interest. In November, the team hosted an event during which they pitched their ICO and accompanying blockchain project to representatives from major banks and other potential investors.

ICO details

  • Starts on March 1

  • Total supply: 1,500,000,000 FRZ

  • Total available during ICO: 750,000,000 FRZ (50% of total supply)

  • Price:

    • ICO Power Hour: 1 FDZ = 0.048 USD (locked)

    • ICO Day 1: 1 FDZ = 0.056 USD

    • ICO Week 1: 1 FDZ = 0.061 USD

    • ICO Week 2 and 3: 1 FDZ = 0.067 USD

  • Approximate funding goal in USD: $40 million

  • Minimum goal: 50,000,000 FRZ (if not reached, donations will be returned to investors)

  • Duration: 3 weeks unless target is reached before that

What does Friendz say?

“A  digital marketing revolution on the blockchain”

Friendz is a fast-growing company whose main goal is to connect brands with their target audience, taking advantage of the most powerful marketing tool ever: the word of mouth on social media. Friendz is proud to have introduced in the digital marketing scenario a new way of doing advertising, based on peer-to-peer communication.”

How to donate

  1. Visit https://friendz.io/ and click the sign up button

  2. Click sign up at the bottom of the login screen and enter your details

  3. Confirm your profile by clicking the link in the email (may be in junk folder)

  4. [email protected] is the official email. Beware of scammers!

  5. Now you’re verified, you’l have access to the dashboard (the email link leads you here)

  6. Apply to the whitelist by specifying the amount of Ether you wish to donate

  7. Join the Telegraph group by entering a username of your choosing in the field provided

  8. Choose whether you want to receive the Friendz newsletter or not

  9. Submit the ETH ERC20 address you’ll use for sending your contribution

  10. Addresses they recommend are Myetherwallet and Metamask

  11. Remember, you can’t send from exchange sites

  12. Refer friends to Freindz by sharing the link provided

Reap the rewards

Once you’ve shared the link, if you successfully manage to recruit new investors to the Friendz ICO, you will be rewarded in extra tokens. The more people you recruit, the more FRZ you’ll receive.

Here’s how it works:

  • 1 friend — 10 tokens

  • 5 friends — 60 tokens

  • 10 friends — 140 tokens

  • 20 friends — 300 tokens

  • 50 friends — 1000 tokens

  • 100 friends — 3000 tokens

Why blockchain?

Having been pretty successful already with the app and the peer-to-peer marketing, one might wonder why Friendz wants to enter the blockchain space.

Members of the team have addressed this a few times. Obviously, in a broad sense, so many technology-based companies and even entire sectors are beginning to shift towards the blockchain, simply because that seems to be the way things are going.

When questioned, the team says their business model will benefit massively from the use of blockchain technology. For example, distributed ledger technology allows advertisers to track ad campaigns for their entire duration. It also gives users the ability to engage with the Friendz community in exchange for rewards (FRZ tokens).

Facebook fire-starters

Friendz already made a splash in the world of social media when they managed to persuade a large quantity of their users to change their employers on Facebook to Friendz. Users then went about updating their professions to various, often surreal or humorous professions; think ‘deejays to dolphin cuddlers’. The stunt took place back in November of 2017 and involved about 15,000 people.

Friendz-Team

The result of this little trick was a lot of free publicity for Friendz. It also proved to would-be investors that the brand has a flair for social media and, by extension, digital marketing. It’s not easy to create hype on social media these days because so many brands are competing for those precious likes, views, and shares. So, the fact Friendz was able to do so early on is impressive to say the least and bodes well for the startups post-ICO future.

You can find the Friendz homepage here.

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