Blockchain-oriented startup FlipNpik is developing a collaborative system for merchants, with the new blockchain-powered platform designed to act as a social media channel for businesses to build an ecosystem that would guarantee a social economy, CEO Henri Harland said in an interview with Cryptovest on the sidelines of the NEXT BLOCK Conference in Kiev, Ukraine.
The network will be fueled by FNP tokens, which are about to be released in an initial coin offering (ICO).
“We promote collaboration to help local merchants worldwide to be visible,” Harland said.
The platform relies on a participatory model that offers user-collaborators rewards for their involvement. This approach is expected to encourage collaborators to promote their businesses by generating quality content.
According to the white paper of the project, “FlipNpik will allow users to discover local businesses in their neighborhood, benefit from exclusive promotions and offers and share their discoveries with their friends.”
The platform will use the FNP tokens as a way to reward users who actively promote the businesses they are associated with, thus increasing the visibility of their merchants.
FNP is a utility token that is distributed and identified on the Stellar Platform, the blockchain network that hosts FlipNpik’s platform. The token will be used by members to get remunerated and obtain access to services, promotions, products, and games. They will also be able to exchange it for other tokens or fiat currencies.
The FlipNpik token “integrates social value, utility value as well as financial value,” Harland noted.
He revealed the startup already had a viable product in Montreal, Canada for the North American region. Currently, there is another company launching in France, which will focus on European and Asian markets. According to Harland, FlipNpik plans to raise 100,000 ETH to further develop its product.
Harland, a graduate of the Université Laval in Quebec, Canada, attended the NEXT BLOCK Conference to present his platform.