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Friendz is an existing Italian app that focuses on branding. the app let people choose a brand’s campaign they like and act on it by publishing pictures on FB, join contests or reply to surveys. Right now there are 40K members in Italy and Spain and a turnover of $1M. The purpose of the ICO is to put the app on the blockchain and use the coins as a utility token and in order to open the service to other countries.
The idea is cute and will be intresting for many Z generation.
The team is strong, the product already exists and the model is consistent.
Brand purchase campaigns on provide tokens to those who participate. They can pay with TDZ or fiat. In the second case, Friendz will then repurchase tokens up to 30% of the value which will increase the value of the token.
The service might work and the ICO will definitely be a success. There are over 65K members in their telegram channel.
Promotion is up to 40% the first hours but you have to be an active member to get whitelisted, so other opportunity is 20%
While I like it, I see it more like a Naga case in which I should buy cheap and then resell, because on the long run I don’t see it get much value and I am not planning to use the service.
I might go for 2 or 3 ETH.