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HomeCOINSWhat Is Favor (FAVOR)? Complete Guide & Review About...

What Is Favor (FAVOR)? Complete Guide & Review About Favor

What Is Favor (FAVOR)?

They continue to expand the use of Favor by forming an alliance with conventional offline companies that want to participate in the metaverse ecosystem, and form FAVOR Alliance with other NFT projects that have clear offline and online tokens to grow and contribute to develop within the same tokenomics system.

FAVOR is a key currency for multiple NFT projects that connect on-off industries, creating an ecosystem that crosses the real industry and the metaverse, discovering various business models. It is designed to be converted into ‘NFT Brand Points’, which are offline points that can be exchanged for 1:1 value, in order to accelerate the entry of offline companies, considering and devoting their vision to a natural connection between the existing economic system and the metaverse economic system.

Favor Key Points

Coin BasicInformation
Coin NameFavor
Short NameFAVOR
Circulating Supply8,297,333.35 FAVOR
Total Supply300,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Vision

They plan to make it easier for offline companies to enter the blockchain industry, so that they can understand the market and participate in the footsteps of experience, leading to accelerated industry participation. To achieve this purpose, token omics system has designed a double tokenomics system that each company can reduce its risk.

In addition, the NFT Alliance is formed so that they can experience sufficient market experience and effects, so that individual NFT communities are not enough to compensate for the quantitative limitations of the target audience. They plan to issue , a common token to this NFT coalition, and as the chairperson of the coalition, exchange development directions with each project and maximize synergy. Inflation of tokens is sufficiently ensured by balancing the actual demand of various projects as much as the supply and the offline system and connection.

Favor Ecosystem

Alliance

Favor Alliance is an association of NFT projects that use tokens as a basis, and is a word derived from a strategic alliance between hotels and airlines to provide services as if they were one company. NFT’s membership projects have a limit in forming a mass community due to the limited number of NFT issuance, so it is difficult to have sufficient demand and liquidity for token utilization.

Favor Coin Alliance aims to make each ecosystem work in one ecosystem by using as a key currency by combining multiple projects with a clear vision of the metaverse and offline using a single token system. The Alliance is chaired by Sunmiya Club, a NFT project, and the members of Alliance are carefully selected and composed of teams with Fundamental that can provide sufficient benefits to the ecosystem.

The Alliance is based on a team with a clear usage offline and a strong vision both online and in the metaverse. The Alliance is based on the active participation of each allied project and the contribution of the ecosystem, and if they do not have a positive impact on the ecosystem, they may be excluded from Alliance after evaluation through an adjustment period.

Favor usage

The on-chain token Favor can be interchanged with offline points. Exchange fees occur when switching on-chain tokens to offline points, and vice versa according to trade value and the value of two goods will be pegged exchange of NFT brand point into offline alliance point has a daily and monthly limit, and the limit differentiates on each offline partner. Furthermore, the limit can be adjusted continuously according to ecosystem conditions.

On Blockchain

Favor Coin will secure various demands when expanding NFT and on the course of its journey to Metaverse. The alliance with plural projects will have similar types of several demands.

1 Usage in Metaverse (Concert tickets sales and admission tickets, purchasing voxel items, and etc)
2 Usage on publishing new NFT for story engagement/evolution/synthesis as the universe expands
3 Use through personal space expansion and decoration
4 Favor usage on minting NFT limited edition
5 Usage on governance and voting engagement
6 Usage on purchasing goods related to NFT projects
7 Usage on publisher service fees such as marketplace and wallets

Favor Tokenomics

Favor has a total 300,000,000 amount of issuance. A detailed distribution and criteria of lock-up is just the same as below.

Token Distribution

Rewarding (50%)

150,000,000 Favor which is 50% of total issuance will be allocated, and can be rewarding through NFT.

Ecosystem (22.67%)

ECOSYSTEM will be distributed for Ecosystem and Marketing. They prepared financial resources for Alliance and Metaverse contents expansion, and the resources will be used for ecosystem formation such as marketing work for token value expansion, liquidity provider, advisor, and early investors.

Ecosystem

(90%) will be used for Alliance formation and ecosystem expansion, and Favor value boost.

Marketing(10%)

Will be used as financial resources for Favor value boost and marketing.

Team

Favor was issued mainly by the subsidiary company of FSN (214270), a KOSDAQlisted company, and FSN has four years of know-how in the blockchain industry. SIX token that was published through ICO is now listed in Bitkub of Thailand and Coinone of South Korea, and is growing with solid demands based on South-East Asia.

Favor has been designed on these various experiences, and will promote aggressive industrial links through a well-qualified foundation. FSN’s subsidiary, Handstudio, is a veteran team of leading global companies and technology-leading research and platform businesses that specialize in IT with solid skills, technology, and execution skills. They are successfully operating in Klaytn chain NFT project, Sunmiya Club.

Bixer Simond
Bixer Simond
Bixer Is Long Term Writer & Editor At Woodfi . His Hobby Is Writing Article For Wootfi Visitors . His Main Focus Area Is Crypto , Affiliate , Blockchain , NEFT , ICO . In Free Time He Loves To Research New Things