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Upcoming Business Models
Along with cryptocurrency payment processing, FADO Go will offer Buy Now, Pay Later (BNPL) function through the use of a protocol that utilizes smart contract technology and blockchains as well as a growing and more sophisticated DEFI environment. BNPL is solving the problem of approximately 70% cart abandonment by shoppers. According to Afterpay 83% of the retailers that used its facility experienced improving conversion and fewer cart abandons whilst 72% of retailers experienced expanding average order values and basket sizes. Users will have the ability to buy now and pay later without the risk of being charged interest or late fees by splitting repayments in fixed amounts over time. While the repayment remains outstanding the user is charged an account keeping and administration fee per month until repayment is made in full. Leveraging DeFi, we will partner with DeFi platforms that provide banking protocols for lending & borrowing with fiats and cryptocurrencies. Credit facility for BNPL will be provided by Crypto Liquidity Provider (LP) or lenders and will be used to finance customers to do global shopping.
Shoppers are rewarded for doing the right thing and completing their repayments on time by receiving tokens that can be used in various ways such as buying into a higher credit limit, used to shop more on our platform. With BNPL, we aim to provide the easiest and smoothest way for everyone to shop with their suitable budget
Gamification is a strategy that is changing the way we shop in e-commerce and that has lots of advantages, both for shoppers and brands. Using gaming elements in the e-commerce setups has helped online businesses to build loyalty and consumer participation into the system and to grab the attention of game players by using the gamified methods of interaction. It is also a social activity which promotes interaction with people around to trigger a certain behavior, creating loyalty, brand awareness, and effective marketing engagement. Since e-commerce is just a click away, many gamified applications are designed to produce desired customer behavior change by facilitating users in getting involved into it in such a way that makes them form habits out of it, i.e inclining users to quick rewards and recognition.
FADO Go understands the success of various games applied in e-commerce to keep customer retention, so we will develop daily play-to-earn games to encourage our customers to visit our platform more frequently and incentivize them to make purchases. Furthermore, we will design rewarding points with gamified elements for referrals, posting reviews, comments on the products as well as suggestive conversations to be shared on social media, task-based gaming apps for customers to complete and earn rewards, and alluring campaigns with exciting and appealing prizes for winners.
In reality, we are seeing more and more the possibilities of Augmented Reality (AR) and Virtual Reality (VR) coming to life and creating new ways consumers experience products and how they impact on purchase decisions. Shopping Metaverse, the ability to buy something in the metaverse and then take ownership of it in the real world, is becoming the future of retail. The shoppers of the future will wander through virtual malls with their friends, trying on clothes and getting a far better 360-degree view of how they will look, rather than the limited facilities of a crowded changing room. FADO Go will build toward Meta Mall to offer a full shopping experience in the metaverse to our customers, demonstrating the capabilities of FADO Go. Brands can join to build and design their own virtual stores in our Meta Mall. We will extend to facilitate the exchange of digital value for real-world goods & services and enable brands to sell physical objects that have a digital and physical life. For instance, a real-world fashion item will have a digital life as an NFT which allows its owner to use it for their favorite video game or grant exclusive access to online communities. With our logistic capabilities, FADO Go ensures the physical product arrives on customers’ doorstep with the same certainty as if people had walked into a shop on the high street.
There are few funding options in the market for online entrepreneurs to start their e-commerce businesses such as debt or equity financing, business loans, merchant cash advance, etc. However, such financing is very hard to access for most small entrepreneurs with complicated requirements. FADO Go is devoted to providing sellers/merchants a more flexible approach to decentralized financing solutions that help to expand their businesses with peace of mind and sustainability. The initiative offers sellers a totally digital experience, allowing them to raise money quickly without burdensome paperwork. At the same time, this also gives the public opportunities to explore potential companies.
We will create a crypto-based crowdfunding platform to bring creative projects to life and support creators/sellers to access DeFi and get funded in crypto. Basically, either funding or credit will be offered by crypto liquidity provider (LP) pools or crypto lenders through our launchpad where creators/sellers can apply their project for funding from the crypto community worldwide. The biggest upside of FADO crypto crowdfunding platform is the transparency it brings to the table. As there are no intermediaries involved, there is a clear money trail to follow. Moreover, our launchpad relies on smart contract technology to ensure the money being raised is spent on what the companies need to pursue rather than wasting funds. Since no intermediaries are involved, there is a significant reduction in costs to organize the sale and fully collect raised money afterward. We understand that startups often need every cent they can scrape together, efficiency on the fees front is surely essential.
With decentralized financing, projects can make their new product designs or prototypes, and NFTs items into real productions and physical delivery to project investors. Besides, the funding can be used for other business purposes like inventory management, product line expansion and reaching a larger number of customers. When online entrepreneurs agree to join the Fado platform, they will no longer have to worry about how to maintain substantial working capital in order to keep the business running, significantly improve sales and acquire new customers, and diversify into different products. They can also handle basic cash flow responsibilities (such as payroll, taxes, and rent) or capitalize on company possibilities (react to unexpected opportunities and gain a competitive advantage).
Driving the global opportunity of e-commerce, FADO Go adopts a franchising model to provide businesses globally with a turnkey online e-commerce platform. We franchise our technology know-how and provide standalone, branded platforms and marketplaces that are marketed and operated locally by franchisees. We will empower any business in any emerging market country to grow their business with a cutting-edge e-commerce platform, featuring products from G7 markets and offering instant and ongoing access to an inventory of over 5 billion items.
FADO Go will use FADO token as an exclusive cryptocurrency to be used in our franchising system. We will set the minimum coin threshold for eligible franchisees so that franchisees can have the privilege to sell the product or create a sub-franchise. Blockchain implementation could support this model with good benefits. It can create decentralized e-commerce that is secured, cannot be manipulated, cannot be misused, and free from interaction limitations.
Group buying offers products and services at significantly reduced prices if consumers buy in large quantities which is quite appealing to price-sensitive and deal-oriented consumers. Customers can join with family, friends or even neighbors to take advantage of the lower prices and bigger quantities.
FADO Go is attempting to build a community in which we give a policy to encourage Fado members to buy in groups at a very favorable price. Members can invite friends, join shopping groups to find people with similar shopping interests, and buy on the FADO Go platform together. Each successful group shopper will get rewarded in FADO tokens based on their transacted order value and they may also utilize FADO tokens to obtain a discount on overseas shipping expenses. The community will provide assistance and appealing advantages to customers, boosting the exchange of commodities on this platform and improving purchasing behaviors. With the help of FADO Go, it will become easier to find people with similar shopping preferences all around the world in order to get more and more benefits than ever.
We will create the feeling of being in a mall with friends and enjoying the sensation of window shopping and sharing goods with a group-buying model. Our platform will allow users to share their purchases with friends via posts to build networks and communities. More importantly, consumers would be able to create and host their own sales events for anything they want. The discounted price was only secured once a buyer target was met, encouraging hosts to invite friends to purchase along with them.
Our concept is leveraging the power of collective purchasing by offering a wholesales price to a group of individuals who purchase a product or service. We will collaborate with suppliers of products and services by hosting exclusive deals, flash group-buying sales or limited-bidding events. In addition, FADO Go is attempting to build a community in which we give a policy to encourage Fado members to buy in groups at a very favorable price. They can invite friends, join shopping groups to find people with similar shopping interests, and buy on the FADO Go platform together. But most of all, they can receive rewards for such community activities and network building.