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1. What is an NFT?

A non-fungible token (NFT) is a digital asset that is verifiable on blockchain technology. Assets include artwork, music, lifestyle content, picture, video, in-game assets such as unique avatars, etc. Because they are unique, NFTs are becoming sought after as collectibles.

2. What is a Wallet?

Wallets (aka Crypto Wallets) store your private keys, keeping your Crypto (money, token assets, NFTs) safe and accessible. They also allow you to send, receive, and spend cryptocurrencies like Bitcoin, Ethereum, Celo, or even tokens including our future native $FZ token.

3. What is a Blockchain?

A blockchain is a digitally distributed, decentralized, public ledger that exists across a network. It is a list of transactions that anyone can view and verify. The Bitcoin blockchain, for example, contains a record of every time someone sent or received bitcoin. It happens exactly the same with the NFTs.

4. What Blockchain is FRIENDZONE using?

FRIENDZONE is an Ethereum virtual machine compatible App.

5. What is a Token?

In the simple way: tokens are digital assets. They operate off the back of a pre-existing blockchain (even with multiple blockchain networks integrations), rather than being an innate, integral part of one, as most cryptocurrencies currently are. They can be used in many ways – like if you want access to a product or service (via utility tokens), if you want to buy, sell or stake digital artworks (non-fungible tokens).

6. What is the $FZ Token?

$FZ tokens are the integral part of the operation of the FRIENDZONE protocol. $FZ tokens become the token that will allow users to be part of the economic system we’re creating.

Note: $FZ token will be launched in the Future, when the App goes LIVE.

7. How much does it cost to do a CHALLENGE as an NFT on FRIENDZONE?

All users can do their CHALLENGES (mint their NFTs) instantly, without any associated cost. Mint an NFT will be completely free on FRIENDZONE protocol. It’s simple and fast.

8. Can I generate value (make money) with my NFTs? If yes, how?

Of course! Our goal is allowing all users to earn money with the micro-economy designed by FRIENDZONE.

There are 2 ways to earn money through FRIENDZONE:

  • In the present, through CHALLENGES successfully completed;
  • In the future through staking process (lock $FZ tokens inside the App to earn extra tokens on a daily basis).

9. What is the stake model on FRIENDZONE?

  1. To be able to Stake, user need to have $FZ Tokens on their wallet (Earn them from his completed CHALLENGES or Buy them)
  2. User decide to Stake (vouch) those $FZ tokens ($FZ tokens will be Locked
  3. The more tokens the community stake, more $FZ tokens they can claim on a regular basis, as an incentive.

10. Minting an NFT. What’s that?

Minting a NFT is, in simple terms, uniquely publishing your digital asset on the blockchain to make it purchasable and “stakable”. Mint an NFT is the way to post something (created by you), where you guarantee ownership and all rights of a unique digital asset (can be a photo, a digital artwork, a video, a music, …)

11. Why shall I use FRIENDZONE?

Our goal is to become the first mobile App that will have the following key-points:

  • Ownership (private keys) – on FRIENDZONE all users will be the true owners of their data, accesses and content;
  • No digital wallet requirements (like Metamask);
  • Monetization (all users will be able to really earn money through our App business model);
  • Decentralization;
  • No minting fees (no gas fee will be applied for the mint of any NFT)
  • Staking Model inside the App;
  • Organic Growth/Reach (FRIENDZONE will provide a fully transparent and organic growth, where it will not be possible to “pass over” the content of other users);
  • A web2.5 decentralized social NFT-powered feature, that will give the power to the users.

12. How do I exchange Euros or Dollars for $FZ tokens?

In the future we will incorporate the option to allow users to load $FZs into their App directly, purchasing $FZs via FIAT on-ramp gateway with Euros or Dollars (through VISA or IBAN), and the subsequent off-ramp back to bank account.

13. How do I exchange FZ tokens for Euros/Dollars ?

As soon as we go live and list the $FZ token on a CEX/DEX (example Binance), it will be possible to swap $FZ tokens for a stable coin (like USDT/USDC/cUSD – pegged to 1$).

14. How can a brand or a service fit into FRIENDZONE?

  • A brand challenges a creator to leave the house with a total outfit of their brand. The creator creates this content and submits it for validation. Once approved, the creator receives the tokens in their wallet, corresponding to this challenge.
  • FRIENDZONE challenge users with a global challenge with push notifications: ex: LEVIS challenge users to go out with jeans – denim day).
  • FRIENDZONE challenge users on world car free day. A brand challenge users not to use the car on that day, promoting sustainability.
  • FRIENDZONE challenge users on the 1st day of Tomorrowland. Everyone dress up like they’re going to Tomorrowland. The best outfits of the challenge win tickets to the festival.

15. What’s the benefit of having NFTs?

The benefits of acquire an NFT are numerous. Basically if we hold something in the form of NFT we will have ownership over that digital asset (which can also mean ownership over something physical as well). If we have this ownership, we can monetize it the way we want, since this asset belongs to us!

© 2023 Friendzone.