Fyooz is a marketplace dedicated to the creation of celebrity tokens (called Stars Token), which will be used in several industries, including music and social media. Moreover, NFTs can be created for stars, brands or even specific events. Fyooz is particularly appreciated by fans, supporters and subscribers in order to use tokens to interact within the community and indirectly invest in a token that represents their "passions".
In fact, we have seen the token of rapper Lil Yatchi or tokens of influencers and YouTubers among others.
Thus, Fyooz gives everyone the opportunity to benefit from investment options in sectors that do not usually offer them.
Yes, to put it plainly, anyone and anything can become a token on Fyooz.
Fyooz is therefore also interesting for celebrities, brands or any other influencers who want to monetize their creations and the attention of their audience.
The possibilities are limitless because everyone can use this type of token, whether individuals, organizations and even companies. Everyone can find an interest in it and that is what we will see, here, in this article.
How does Fyooz actually work?
Celebrities or brands can create tokens and users can invest in these tokens. They can then buy/sell or exchange these tokens.
Again, tokens can then represent events, brands, celebrities, influencers or anything that has value to a given audience.
When you create a token, you become a token issuer on the platform. Therefore, as with any creation of a token, it is necessary to establish an initial price for each token, define the number of tokens that will be in circulation and configure the rights and privileges that the holders of the token will have.
For example, if a music group creates their token, they can define that token holders will be able to have access to private concerts, exclusive streaming videos or any other rewards they want.
Generally, tokens are also used to participate in important decisions. For example, they will be able to decide in surveys for the choice of certain titles, the concept of the album cover, etc.
Here again, the possibilities are limitless.
Once the token has been issued, anyone can then purchase it directly from the Fyooz marketplace.
Users can select any token to invest in. We can directly see the price of each token. This varies depending on supply and demand.
The application is simple to use for a novice. This was intentional to attract as many people as possible, and not just people who know cryptocurrencies and their uses.
To buy a token, you must first own FYZ tokens which is the central currency of the marketplace.
You can buy FYZ token on Uniswap and on Bitbox. That said, the volume is still low and the project is still recent.
Final word on Fyooz
The project is certainly innovative, but there still needs to be good traction to consider investing in this token. That said, creating specific tokens for audiences and fan communities could well be the next big trend.
We also know that the phenomenon of social tokens is still in its infancy and that there are more and more marketplaces for this type of token. It’s certainly a booming market, that much seems certain.
We are waiting for tokens from Madonna, Rihanna or other international stars so that it can clearly be a hit and reach a wider population.
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