In this Telegram AMA recap, you’ll find insights about the Fayre project. In an event hosted by SenHo from MEXC, you will meet Luis Carranza (Founder of Fayre).
Introduction to Fayre
Luis: I got into crypto in 2013. I was working on an innovation strategy project for Western Union and we were looking at the future of payments. This got me into Fintech and I launched London Fintech Week and Blockchain Week. So I ran a crypto conference from 2014 to 2019, which took me all around the world meeting founders and watching all the trends unfold.
I also have a bachelor’s degree in Advertising and master’s in brand management. I used to help brands enter web2 15 years ago and I see many similarities with brands entering web3. NFTs + Brands + Fans = Fayre. Our first live project is the marketplace, but this is only the beginning.
Questions from community to Fayre
Sen ho 2: What is FAYRE(Fayre)? Can you share with us more in detail?
Luis: At the moment, brands are doing a lot of work in NFTs independently. They drop the NFTs, but what happens next is always mixed. Some brands develop communities, others don’t follow up.
Fayre is building a brand dashbaord, so they can turn drops into communities or decentralized loyalty programs.
We also have an app in which we have tested geo-fencing mixed with NFT gating in order for brands, teams and retailers to give NFTs utilities in real life.
Fayre is the old English spelling of Fair.
Fayre: an old-fashioned spelling of fair, used to talk about a traditional public event where goods are bought and sold and where there is entertainment.
We have a gateway as a logo because we are helping brands being the bridge from web2 to web3. The gateway is the access of web3 for our partners.
Fayre is a multichain marketplace with 1.5% transaction fees. Holder of the FayreCard can reduce transaction fees to zero. The brand dashboard makes it easier for brands to get involved and manage communities. After the drop, brands can use our Companion App to allow users to “spend” NFTs in retail or stadiums or earn points for participating in real world activities linked to their nfts.
We’re working with retail brands to scan their products for sale in different metaverses. And we have several metaverses planned including
We want to get the next 10 million NFT holders, and that involves activating brands and fans
Sen ho: 2. What triggers you to launch FAYRE(Fayre)? What are some of the real-world problems/ pain points that FAYRE(Fayre) aims to solve?
✅What are FAYRE(Fayre)’s unique selling points as compared to other similar projects in the industry? (Optional to answer, depending on the nature of the project)
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. Fayre combines my two passions of crypto and brand management into one project. We 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. So the plan is to start with our marketplace and continue to build out the Fayre ecosystem receive
Sen ho 3: What is the role of the $FAYRE token in FAYRE(Fayre)? Would you tell us more about its tokenomics?
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.
Holders who lock Fayre at launch will also earn a bonus. And in the phase 2 of rewards, Fayre holders will get more rewards and an airdrop.
We are excited to have listed our $Fayre token on MEXC , On July 14th at 10:00 AM UTC
The tokens sold in the Public Sale round will be released on July 14th. The Angels, Pre-Seed, Seed and Public Pre Sale categories will receive 50% of their monthly allocation.
We will be airdropping your $FAYRE tokens on July 14th at approximately 09:00 AM UTC (around 1hr before the MEXC listing).
✅Token utility
- Discounts on transaction fees
- Staking
- Voting rights
- Payment token for Fayre Marketplace (non-inclusive),
- Incentivize people to transact in FAYRE
We have 1 billion tokens. We started with private sales a few months back and have raised just shy of $4M
Sen ho 4: Are there any exciting news or updates with regards to Fayre that you would like to share with the users?
Luis: Finally our Token will be live, as I said, it will be listed on MEXC, On July 14th at 10:00 AM UTC
We are launching the marketplace this week, this will allow the user to sell, buy and trade our whitelisted projects and our partners NFTs!
Phase 1 of the rewards program starts at launch with our lock/list bonus program where we have 15,000,000 Fayre to give away.
Phase 2 of the rewards program starts in 90-120 days. It’s a collab with LOVV Rewards DAO.
The new Lovv project is very exciting, it is a rewards’ ecosystem to drive web3 adoption.
The team behind Fayre are involved in setting up LOVV as an independent rewards ecosystem. In order to get the project moving, $LOVV token has been approved as the rewards token for three Fayre projects. Once the token is distributed, future projects will be able to apply to use $LOVV in their projects.
Sen ho 5: If you were to summarize your project in ONE word, what would it be? Why?
Luis: WAGMIMF
Free-asking Session
Q1. I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
Luis: Launcing the market and getting the token listed… We have promotions to enourage native NFT listings on Fayre so really that’s the most important milestone to cross
Q2. What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
Luis: We have a great team working hard to deliver the project. We have some unique ideas that we’re bring to life so hopefully the community gets behind us
Q3. How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?
Luis: We’re live in Europe at the moment, but see Asia and LATAM as great markets for us. The plan is to venture there
Q4. Revenue is an important aspect for all projects to survive and maintain the project company. What is the way to generate profit revenue from a token? What is the income model?
Luis: 1. Some market transactions fees
2. Sale of FayreCard NFTs
3. Commission from brand NFT partnerships
4. Sale of NFTs for Check-in
5. Strategy consulting fess
Q5. Will you have an NFT marketplace where we can buy and trade NFTs earned in Game . Will there be other NFT marketplaces where we can trade NFTs? Are you going to offer an NFT rental feature for starters?
Luis: The Phase one and Phase two rewards are both good reasons to stay with Fayre…
Also, if you trade NFTs you could save thousands with FAYRE
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