QnA

QnA Token Participation

What is Favourse?
Favourse is a pioneering Web 3.0 and blockchain-based event enabler organizing platform in Indonesia. It aims to revolutionize event management by integrating advanced technologies like NFT ticketing and blockchain-based crowdfunding. Favourse's primary objective is to address challenges in the event industry, such as high organizing costs and complexities in finding suitable partners and sponsors, by offeringinnovative and efficient solutions.
CrowdFunding
  1. Campaigns are 30 days: Backer money is locked
  1. EO can define Soft Cap (needs to reached as minimum) and Hard Cap
  1. EO can request withdraw of money before event if proof is provided
  1. EO needs to KYC; and possibly do a contract (what is Republic.com and Kickstarter doing?)
  1. Backer can give 5% extra for insurance fund (fraud fund that compensates scam victims) OR have x% of all go to insurance fund anyways? Yes!
Fees
  • Transactions Fees & 15% Commissions
  • Revenue being shared to “The Pool”: 1% of all transactions go to “The Pool” and 5-15% of commissions of Sponsorships (8%), crowdfunding events (15%), ticketing fees (4%), 8% of sales commissions (e.g. merchandise)
Revenue Generation
  • Fiat and Crypto comes in: Tickets, Sponsorships, Voting, Paid Memberships, Merchandise, Live Streams, Ads
  • From Revenue: 4% Transactions Fees & 15% Commissions goes to Platform
APY
  • Locking Periods and APYs
  1. 6 months = …
  1. 12 months= +5%
  1. 24 months = +15%
How does Favourse impact the event industry?
Favourse significantly impacts the Indonesian event industry by integrating cutting-edge blockchain technology, setting new standards in event organization. The platform's innovative solutions transform traditional event planning methods, ensuring more secure, transparent, and efficient processes. Favourse's approach is revolutionizing how events are organized and attended in Indonesia, driving the industry towards a more digital and interconnected future.
What are the main features of Favourse?
Favourse offers a suite of features and services that cater to the modern demands of event organizing. These include:
NFT Ticketing: Reducing risks of ticket fraud and enhancing attendee         experience with blockchain verification.
Crowdfunding Capabilities: Enabling organizers, particularly smaller entities, to secure funding through community support.
Affiliate Marketing: Providing effective tools for event promotion.
Feedback and Review Systems: Ensuring continuous improvement and quality in event management.
What strategies does Favourse use for user acquisition and growth?
Favourse employs strategic partnerships, a user-friendly interface, and robust marketing campaigns to attract a broad audience. The platform focuses on simplifying the user experience to make blockchain and event organization accessible to everyone, including those unfamiliar with crypto. Favourse also hosts and participates in various events to showcase its capabilities and attract a diverse user base.
How does Favourse ensure security and reliability?
Prioritizing security and reliability, Favourse adopts advanced encryption protocols and secure blockchain integration. The platform adheres to stringent data protection regulations to ensure user data is handled securely and responsibly. Favourse's commitment to security builds trust and transparency, essential in the digital event management space.
What future developments are planned for Favourse?
Favourse is continuously evolving, with future updates planned to enhance its NFT functionalities and expand its crowdfunding features. The platform aims to stay ahead in the fast-paced tech and event industry, adapting to new advancements and expanding its reach to cater to a global audience.
How does Favourse manage risks and ensure profitability in event organizing?
Favourse implements comprehensive risk management strategies, including thorough vetting of events, secure financial transactions, and accurate market analysis. The platform provides tools and insights for effective budget management, helping event organizers plan and execute successful events while minimizing financial risks.
What unique aspects distinguish Favourse in the event organization industry?
Favourse's unique selling proposition lies in its seamless integration of blockchain technology with traditional event management. This integration offers unparalleled security, transparency, and efficiency, making Favourse a distinguished platform in the event organization industry.
What collaboration opportunities does Favourse offer?
Favourse is open to collaborations with various stakeholders in the event industry. The platform offers opportunities for partnerships and robust technical support, welcoming initiatives that align with its vision of transforming event management through blockchain technology
How does Favourse engage with its community and handle feedback?
Favourse places high importance on community engagement and feedback. The platform regularly interacts with its users, conducts AMA sessions, and gathers input through surveys, using this feedback to continually improve and adapt its services.
Do you use a custodial wallet?
No. We use web3auth because it is safe, secure and provides easy onboarding for Web3 and Non-Web3 users.