When addressing development issues, centralized systems such as governments have often focused on national issues with the hope that the benefits will trickle down to the community. However, FlipNpik blockchain model chooses to focus on facilitating development at the community level with the hope that development in these smaller economic units would reflect nationally and globally. Local businesses are often small to medium size without adequate capital to invest in marketing and other customer acquisition strategies.
This platform intends to leverage existing customers by incentivizing them to contribute in different ways towards the growth of these businesses.
The culture in the community within which a business operates also plays a big role in determining the way in which the business runs in order to remain viable and grow. Large companies operating many stores or franchises in different communities often centralize decision making in addressing issues affecting their businesses. For instance, the same marketing strategy would be used by the parent company to reduce costs which would otherwise be high if all units were to run their campaigns separately.
FlipNpik provides an opportunity for such businesses to take customize their operations with help from the local community to meet their unique needs and enhance the businesses.
The socio-economic platform intends to target Europe and Asia in its initial growth plans. By the end of 2018, FNP plans to have forged partnerships with relevant businesses and organizations to help it achieve this goal. Northern Africa and countries in the Oceania region will be the next area of concentration for FlipNpik as it continues to expand its reach. It also plans to integrate augmented reality into its platform in order to further enhance its usability and attractiveness to the users.
What is FlipNpik?
FlipNpik is the premier commercial social media platform. It was created on the stellar blockchain and designed to connect shoppers to merchants within their communities. Shoppers are incentivized to create and share material that will enable local firms to become more visible. The platform gives clients the capability to customize their apps and get material of their liking. Its main goal is to enhance the advancement of local economies by facilitating local consumption. Therefore, clients are placed at the centre of decision-making processes and are considered as co-creators of value.
How does it Operate?
The key features the FlipNpik platform affords to users include a directory of merchants within their neighbourhood, personalized news feeds, games and entertainment and a library where they can save favourite products and businesses among others. Merchants, on the other hand, get access to marketing tools, increased viewership and a marketplace on which they can make their goods accessible to the users. They also get data and tools to facilitate analysis of their sales performance accurately and advice based on these analyses.
Flip Social (FS) is FlipNpik’s reward system designed to incentivize clients to participate on the platform. They can be used to access games, promotions, discounts and other offers. FS is not registered on the blockchain but users will also have the option to convert their FS into FNP tokens for limited periods of time. FNP is the primary tool for transferring value on the platform.
FlipNpik has begun its initial coin offering for the FNP token in partnership with Chaineum, a Europe based cryptocurrency and ICO consulting company. The first stage begun on 1st may and will run for a 2 month period. A total of 105 million FNP tokens are available at this stage of the initial offering. This will be followed by the pre-ICO period where 105 million more FNP tokens will be disbursed. The main offering is the last stage with 140 million more tokens to be circulated. The blockchain platform targets a hard cap equivalent to 115,000 ethereum units in the ICO process and plans to increase the number of FNP tokens in circulation to a billion units over a 4 year period.
Bounty Program and Requirements to Participate
The platform has launched a bounty program for its FNP tokens to run alongside its token sale. On completion of the bounty program, FlipNpik plans to launch another program to help its ecosystem and further its applications. FlipNpik plans to distribute more tokens in the course of this program to incentivize members to join and play a role in the development of the ecosystem.
One of the ways users can participate in the bounty program is through FlipNpik twitter campaign where rewards are based the number of followers a user has at the beginning of the campaign and the tweets and retweets they make during the period.
The shoppers also have an option to earn tokens through translation of ANN and bounty threads and creation and moderation of local threads. FNP tokens can also be earned by creating and blogging original content and videos that promote FlipNpik on social media outlets. Facebook, LinkedIn, telegram and cryptocompare also offer an opportunity for interested persons to share content and earn tokens. Each of these platforms has their own set of guidelines that give details on how.
Future Development on FlipNpik Platform
To facilitate its success, the flipnpik platform is working towards a partnership with different trade associations, municipalities, digital service providers, delivery platforms among others. It also plans to take advantage of already existing advertising tools such as TV and radio. It has also partnered with geekco technologies, a Canadian based Internet marketing company to help it in establishing and growing in North America. In the 6 month period since August 2017, geekco facilitated the testing of FlipNpik in Canada, a process that saw up to 700 merchants from different industries and over 4000 users join the platform.