In the last decade, the e-commerce industry has gained a lot of traction globally. Companies like Amazon & Alibaba have revenues surpassing that of top retail giants. Though the industry is booming, there’s no player that rewards shopping. Thanks to FADO Go, we now have the first shopping-to-earn platform that rewards everytime you shop. It has put forth a detailed plan to reward users everytime they purchase its products or use its services anywhere across the globe. With an ambitious plan, can it disrupt the industry and shake the market leaders? Let’s review FADO Go –
What is FADO Go?
FADO Go is the blockchain-based cross border e-commerce platform that connects consumers with brands, influencers, KOLs (Key opinion leaders) & logistic partners. It’s the first platform that rewards consumers everytime they shop, utilizing its shopping-to-earn concept.
Born in Vietnam, FADO Go has grown from a logistic startup to a leading e-comm company with over a million registered users. Its website currently facilitates users to shop from G7 nations (Canada, France, Germany, Italy, Japan, UK & US) and ship goods to over 220 countries globally.
There’re multiple parties involved in the existing cross-border e-commerce industries causing delays and inefficient operations. FADO Go wants to connect manufacturers directly with consumers on its platform, backed by in-house cross border logistic services. Following are the problems observed in the web2.0 e-comm industry and the solutions provided by the team –
FADO Go aims to build a global network of shoppers, influencers, brands & logistic partners on shopping-to-earn blockchain platform
FADO Go Ecosystem:
FADO Go is operating under the umbrella of Miczone group, a reputed leader in the cross border ecosystem. The group has expanded itself into multiple sectors including logistics, supply chain, export-import and online distribution.
It is the key member of (VECOM) Vietnam E-commerce Association and the authorized partner of Alibaba in Vietnam. Along with FADO Go, the group aims to remove every hurdle that stops the online business from expanding globally.
FADO Go ecosystem comprises of the following entities –
- FADO Vietnam
- Gianohan247
- FADO Cambodia
- Pearla
FADO Vietnam:
FADO Vietnam is an established cross-border e-commerce platform that provides consumers access to over 5 billion products listed on the top e-comm websites globally. It also encourages local merchants to sell their quality products using its services. On behalf of the customers, it handles the complete process of customs clearance & imports. Here’re its top achievements –
Gianohan247:
Gianohan247 is the logistics arm of the ecosystem that delivers products to Vietnamese customers, ordered from the international markets. It is among the top 10 logistic services in Vietnam, generating over $3 million in revenue per year.
FADO Cambodia:
Also known as FADO168, it’s the first cross-border e-commerce platform in the Cambodian market. Growing at 18% CAGR, it generated a revenue of over 500K in 2020. FADO168 has become the most preferred platform for local users for ordering international products.
Pearla:
Pearla is a team of buyers and analysts that aims to help customers spend their money wisely. It provides curated products from around the globe to High Earner Not Rich Yet (HENRY). Pearla operates in multiple categories including fashion, electronics, cosmetics, home decor etc.
FADO Go Business Models:
Just like the play-to-earn model in blockchain games (GameFi) or the move-to-earn model in STEPN app, FADO Go has multiple business models to reward the users.
Shopping to Earn:
FADO Go website has integrated the shopping to earn platform that rewards consumers with FADO tokens every time they order a product on the platform. To extend the use case, it has a shopping extension which allows customers to shop on other e-comm websites using its shopping cart. The extension can be installed in the browser and is used to place orders via FADO Go shopping cart, allowing customers to earn more FADO tokens.
To sweeten the deal, it has a multi-tiered membership program i.e Bronze, Silver, Gold, Diamond and Platinum that allows users to get exclusive benefits.
Daily reward is calculated and distributed based upon each successful order value (1-3)%
Dropping to Earn:
FADO Go provide shipping services to overseas customer ordering products from any online store. It takes products from the merchant and sends them to its warehouses spread across the globe. From the warehouse, it ships directly to the designated address. Post successful delivery the customer will receive FADO tokens as reward for choosing its logistic services.
Multiple purchases from various e-comm sites can also be bundled for delivery
Live Shopping to Earn:
Live shopping uses the power of social media & influencers to promote its products to the customers. Customers can directly purchase the product showcased by the influencer explaining the brand and the benefits it offers. The whole event is juiced up with special deals, giveaways and limited time offers, encouraging people to make instant purchases.
After the purchase, FADO Go will manage the complete cycle of delivering products to the customer’s doorstep.
FADO GO Tokens:
FADO Go has a dual token ecosystem. Both are BEP-20 tokens built on the Binance Smart Chain serving different purposes –
1) FADO Token:
FADO is the utility token of FADO Go ecosystem. It’s the main currency used to reward the customers for using the platform. It has the following utilities –
- Payment discounts
- Cross-border payments
- Swap for gift cards/vouchers
- Reward programs
- Membership programs
- Brand Subscriptions
Details on the utility part can be found in its Whitepaper. FADO has raised $150,000 BUSD in the IDO sale to develop all features of Shopping-to-earn & Dropping-to-earn business models.
The token distribution can be seen in the table shared below –
The total supply of FADO token is capped at 10 billion
There’re two ways to mint the FADO tokens –
- Minting Via Loyalty Points
- Minting Via Token buying Volume Surplus
– Minting via Loyalty Points:
Daily reward is calculated and distributed based on each successful order value i.e (1-3)% of the total value. 70% is paid to the buyer and 30% to the team.
– Minting via Token buying Volume Surplus:
Tokens are minted if there’s a buying surplus based on the daily buy and sell volume of FADO tokens. 70% for the stakers and 30% for the team.
2) FGT Token:
FGT is the governance token of FADO Go ecosystem. Token holders will be allowed to vote and submit proposals to help grow the project in a decentralized fashion. The upcoming FGT token sale will help the team raise funds to develop SocialFi aspect of the ecosystem i.e Live Shopping platform.
The total supply of FGT tokens is capped at 100 million. The token allocation is shared below –
FADO token holders will be prioritized in FGT token sale
FADO Go Revenue Streams:
FADO Go has multi revenue streams powering its ecosystem –
Gross Merchandise Value:
GMV is the total volume of goods sold on the platform. This revenue stream is generated by the FADO Go website. Popular cryptocurrencies like BTC, Ethereum (ETH), USDT together with FADO & FGT tokens are accepted as modes of payment besides traditional payment methods.
Logistics Service Sale:
From cross border payments to import & export reconciliation, FADO Go generates revenue in every step that involves its logistic services.
Live Streaming Service:
Business partners pay streaming service fees & brands pay subscription fees using this feature.
DeFi Services:
FADO Go charges transaction fees when users access its DeFi services to make the payments. It also charges token withdrawal fees when using FADO Go wallet. Moreover, it charges integration fees if any project wants to introduce its currency as a mode of payment on the platform.
FADO Go has several other forms of fees that it charges for availing its range of services.
FADO Go Platform Overview:
Here’s the upcoming plan the team has in mind for building the FADO Go platform –
Website:
The website will integrate the APIs from the selected sellers from G7 countries & social media platforms to bring a variety of products to the platform.
Application:
The team will build a user-friendly shopping app for both Android & iOS devices that works similar to the existing website, bringing in more value for the users & merchants.
Wallet:
FADO Go customers will have their own non-custodial wallets for making payments and receiving FADO tokens. Moreover, the wallet can be used for staking and accessing its upcoming NFT marketplace.
FADO Go Team Members:
FADO Go has 9 core team members. Thuy Pham and Dat Pham are the founders of the project serving as CEO & COO respectively. Thuy is an MBA graduate from California State University serving as an advisor to many projects like MeMusic & KALA network. Complete details of the team members are available on their Linkedin profiles.
FADO Go Benefits:
Cross-border Platform:
With its roots in Vietnam, FADO Go is a cross-border platform that allows anyone to use its services from any continent. Users residing in other nations can use its logistic services to receive products right at their doorsteps. Moreover, the company has plans to spread its wings across nations.
Strong Backing:
Apart from Miczone group, FADO Go has some famous partners and investors backing the project including Coin98, AURA Ventures and many more, making it financially sound & stable.
Audited:
FADOGo token smart contract was written in Solidity and is successfully audited by the leading audit firm i.e Verichains, adding a layer of trust to the whole project.
Shopping Rewards:
It’s the only platform that rewards shopping with cryptocurrency. Everytime user shops or use its logistic services, it rewards them with FADO tokens that hold value in USD. Moreover, the token can be used as a mode of payment or to receive special discounts on every purchase.
High Growth Potential:
FADO Go aims to be the leading player in the e-commerce and SocialFi space. The potential in this sector is huge and FADO Go has the necessary resources to become the market leader, starting with Vietnam.
FADO Go Drawbacks:
Traditional Competition:
FADO Go aims to connect manufacturers directly with customers. Although it’s a good move, it won’t be enough to take on the traditional competition with deep roots in the global economy. It has to win the trust of users (buyers & sellers) before becoming an established player in the sector and that will take a lot of time and effort.
Cryptocurrency Adoption:
Blockchain technology has revolutionized the way business operates. However, it remained untouched by the general public. Many users are still hesitant when it comes to using cryptocurrencies for trading and investing purposes.
Offering users FADO tokens as reward which has to be stored in a wallet and using the same for payments is going to be an uphill task for many users. The adoption is growing but it will take sometime to flourish. The data assures a positive outcome (shared below) but only time will decide the adoption rate of the shop-ship-earn concept.
FADO Token Price:
While we’re waiting for FGT to be listed on the exchange. Please check the latest price of the FADO token, shared below –
FADO Go Tokens Price Prediction:
It is too early to predict the price of both FADO and FGT tokens. FADO was sold in IDO at a sale price of $0.0016 per token. FGT on the other hand is awaiting public sale this year. Between the two, FGT will hold more potential since its a governance token and will be used for voting on proposals. We will publish the complete price prediction of both the tokens once there’s clarity on the technicals.
Where to Buy FADO Token?
FADO can be bought from the leading DEXes like Pancakeswap crypto exchange and KAIDEX.
Is FADO Go worth investing?
Backed by Miczone group, FADO Go is one of the top projects in the e-commerce space. It’s already the number 1 player in cross-border payments platform in Vietnam and the most preferred platform in Cambodia.
To talk about the business model, shop-ship-earn is relatively similar to a loyalty program with a twist of rewarding customers with cryptos. Since FADO is a multi-utility token, it will grow once the platform picks up momentum on a global scale. The best part is its logistic services. A user can place an order on any website from anywhere and FADO Go will deliver the product right at their doorstep, again rewarding the user with FADO tokens for using its services.
The use case is pretty strong and the token has the potential to register quick gains. However, the platform will face stiff competition from traditional players, especially in SocialFi and cross-border transactions. It is yet to be established as a reputed brand to gain trust in the global market.
We have to wait to see how new and returning users react to its token economy. It’s a wait and watch game with strong fundamentals.
This completes my review of FADO Go platform. In the next post, I will talk about Tokocrypto & Metawear. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
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Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.