FlipNpik

FNP
Pre-ICO Start: 7/1/18 Pre-ICO End: 8/31/18

BMJ Score: 3.7

Market

Transparency

Team

Token

Adoption

Quick Summary

21 Investors read this
What if Yelp and Groupon used tokens to motivate small local businesses and their customers to sell and buy from each other? Well, there you have FlipNpik.

Commentary

Many a company has tried to capture this behemoth market sector only to find it too fragmented and diverse. The unfortunately named FlpNpik (it may need branding help) thinks it can use tokens to entice small businesses and local consumers onto its platform. But this is a sector which still relies on paper coupons. Expect them to switch to crypto soon? Hmmm.

Investment Information:

  • How to invest: Accepted cryptocurrencies are ETH, BTC, LTC, DASH, and DOGE. Euros are also accepted. In order to participate, you must first set up an ETHER wallet. After your wallet is set up, register on the website and follow KYC procedure.
  • Discount: Periodic bonus of 5% to 10%
  • Eligibility: Residents of the U.S. and Canada may not participate.
  • Token Price: 1 ETH = 3,500 FNP; 1 FNP = 0.0002857 ETH; Average price in FIAT 0.10€ / FNP
  • Jurisdiction: The Initial Coin Offering project is presented by Fliptech SAS, a joint stock company, governed by French law.

Market: 3

  • Problem addressed/solved: Globalization and centralization of industries and wealth have led to disloyal competition where only big players can survive at the expense of small local businesses (i.e Amazon running mom and pop shops out of business). Currently, a large disparity exists in the world of social networks. Inequalities in this area are due to the fact that platforms such as Instagram and Facebook offer the best visibility to large businesses with deeper pockets and greater purchasing power than for small businesses that have neither the expertise nor the budget to stand out on these platforms.
  • Target customers/customer/ segments/verticals: FlipNpik is a collaborative platform that requires two different participants in order for the ecosystem to do its job: businesses and users. The users are the primary participants of the platform. They contribute to the platform in order to receive FNP. The target market of FlipNpik boils down to local businesses and users who either want an additional stream of income or simply an alternative to other apps that do not offer rewards to users, such as Yelp.
  • Value creation: FlipNpik creates social and economic value for both businesses and users. It provides a one-stop shop for social presence management for local businesses as well as a platform for users to interact and gain insight on local establishments. The participatory model gives users/collaborators the opportunity to get rewards for their actions and the ability to become ambassador partners, where participants receive a bonus from their business when they actively contribute.
  • Competition: FlipNpik will have to struggle against business review giants like Yelp and Google Reviews. They differ in that users can actually earn legitimate income while using the app, making it both more profitable and honest. They’ll also have blockchain-related challengers since reward ecosystems are a popular way to get people interested in an app or platform.
  • Market size/potential: Review apps stand as some of the most popular downloads on both iOS and Android devices. The new generation of smartphone users utilizes these apps to share both positive and negative reviews about businesses they’ve experienced firsthand. Apps like Yelp created a revolution that changes the way people choose where to shop, eat, etc. Applications like this have a fairly large market, and it will presumably grow far into the future.
  • Regulatory risk: The regulatory risk here is fairly low, with the most important risk to consider being the obligation to protect consumer data.

Transparency: 3.5

  • Investor value: The FNP token will be a valuable vehicle within the FlipNpik Ecosystem. The value of the FNP will be correlated to the proper development and the wide use of the Platform. This value is based on two main axes: a Utility Value and Social Value. The greater the perceived utility and social value, the higher the returns for investors. The project is built on the Stellar platform with an ERC20 token.
  • Disclosures: FlipNpik’s whitepaper has one of the most detailed roadmaps that you’ll ever find among pre-ICOs, with 65 jam-packed pages of information that’s all lined out by an easy-to-read “table of contents” page. Lastly, they have two separate press releases that objectively go over the details of the project.
  • Token distribution: 35% ICO, 7.5% marketing, 7.5% management, 35% social mining reserve, and 15% partnership reserve.
  • Use of proceeds: 44% development, 25% sales & marketing, 19% initial fees & IP, and 12% admin and operations.
  • Caps: No soft cap mentioned; hard cap of 100,000 ETH/ 35 million Euros

Team: 4

  • Track Record: The FlipNpik team consists of 8 members, 9 advisors, and 20 collaborators. The CEO, Henri Harland, was a former founder and CEO of Neptune Technologies and chairman of Geekco Technologies. The CTO, SErge Helou, also worked as a director for Geekco Technologies. An experienced team of developers and business analysts add value. The project also boasts a team of top advisors, some of whom are top ICOBench experts, including Ian Scarffe, Laurent Leloup, and Jason Hung.
  • Integrity: Many of the FlipNpik team members held positions of significant power in their prior companies (director, CEO, chairman, manager, etc). FlipNpik, for all intents and purposes, is a group of individual leaders coming together for a new project.
  • Team Members

  • Henri Harland, CEO (LinkedIn)
  • Richard Marganne, President (LinkedIn)
  • Serge Helou, CTO (LinkedIn)
  • Sebastien Fabbi, CMO (LinkedIn)

Token Mechanics: 4

  • MVP: The FlipNpik app is available for download on the Apple and Google Play stores. The app has amassed a solid amount of members: Number of businesses on the application: 700; Number of users on the application: 6,200; Number of Ambassadors partners: 50.
  • Token use case: The FNP is a utility token designed for acquiring various goods and services and for carrying out transactions only on the FlipNpik Platform and between members (users and businesses) of the FlipNpik Platform.
  • Value-added: The FNP token is the cornerstone of the FlipNpik project. It operates as a utility token on the Stellar blockchain, serving as the mean of exchange to access FlipNpik’s services, promotions, products, games, and to become an ambassador of a local business. The token adds value to the project as a whole. Without it, the project couldn’t function properly. That said, people will need to value the platform as a whole and want to use it in order for there to be any demand for the token.
  • Decentralization: Fully decentralized.
  • Token Supply: 1 billion total token supply.

User Adoption: 4

  • Technical difficulty/investment expertise needed: Understanding the FlipNpik ecosystem requires no prior knowledge of any industry. It’s a platform that has an ecosystem of businesses and users where the participants receive FNP for their contributions. It’s similar to apps like Yelp, but far more involved and innovative.
  • Halo effect: FlipNpik lists 8 partners including AmaZix, DMS Investments, and Chaineumin. They also plan to designate 150 million FNP tokens to facilitate the implementation of strategic partnerships for the development of the project. A portion of those tokens will also go toward acquisitions to accelerate its development and be able to quickly expand its user base.
  • Buzz: FlipNpik has nearly a combined 14,000 followers across their Twitter, Facebook, and LinkedIn accounts. They have an additional 12,600 members on their Telegram account. They’ve also been featured on a few reputable ICO sites. The brand name, however, is a bit problematic since it does not capture the essence of what the platform does.

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