What Is Fellaz (FLZ)? Complete Guide & Review About Fellaz

What Is Fellaz (FLZ)?

Based in Singapore, Fellaz is a multi-chain web3 entertainment ecosystem that provides a comprehensive metaverse content production and distribution studio service, an NFT solution for web3 entertainment and content diversification, alongside a decentralized fandom community infrastructure, together with an alliance of leading experts and global partners in the respective fields.

Fellaz Coin as a one-stop solution and ecosystem designed to help businesses, creators and fans transition to a longer-term web3 business model, effectively integrates the ideal features of the metaverse, decentralization, and NFT technology with original content, web3 diversification, and fandom in ways that actually work.

Important Points Table Of Fellaz

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Mission

The mission is to define and pave the way for entertainment 3.0 by providing the necessary infrastructure that is optimized for web3-native or compatible entertainment, enabling the web2 entertainment businesses and creators to maximize the unique opportunities that the metaverse and NFT technology offer, while also catering to the needs of the collectors and fans as crucial stakeholders within this new paradigm of entertainment.

Web3 Fandom

The centralized nature of today’s entertainment business structure disallows any form of decentralized ownership or participation. The fans strictly take on the role of a consumer, while the web3 iteration of the business infrastructure would dictate otherwise and allow the fans to take part as vital stakeholders both in the production and distribution stages. The structural limitations that deter the web2-native fan base from migrating to the web3 ecosystem are a challenge that needs to be overcome in order for entertainment 3.0 to become a viable business model.

Failure to offer a vision of ownership

While the fans are accustomed to owning physical goods such as CDs, physical albums, and other goods associated with the stars they love, owning a digital derivative is a novel idea that has yet to become a norm as they have accustomed to the ways of the mainstay entertainment platform defined their services such as music and video streaming as a disposable consumer action, and not something to own and exhibit as a possession. The web2 state of structural monopoly where the entertainment companies and fan community platforms take on the center stage as the owners is also a hurdle to overcome as it reinforces the perceptive norm that the fans are to participate as means of exploitation and revenue generation.

Failure to recognize the contribution

Fans want to be recognized for their contribution. However, the individual fan activity data that accumulates over time within the web2 fandom ecosystem isn’t organized in a manner or used for gauging contribution. Also, since the activity data is siloed in multiple disassociated centralized platforms, the collective data is at best fragmented and at worst prone to permanent erasure. Within this environment, there is no way to distinguish loyal fans to give them a fair remunerative recognition or ensure secure preservation or valuation of the collective data, which could translate to the profit-yielding utility if properly harnessed.

Failure to offer a seat as a stakeholder

The web2 entertainment does not recognize the fans for the indispensable value they bring to the entertainment industry as the very foundation to success. Without the fans, no artist could become a star. As we enter into the age of entertainment 3.0, it is essential to recognize the changing landscape and perception of how things are run and adopt the idea of fans as stakeholders in order to ensure the sustained presence of a healthy fandom community. The fans deserve a seat in the decision-making process.

Fellaz Token

Fellaz ecosystem will be used centrally by four different categories of participants: artists, collectors, fans, and users. While each stakeholder comes with a different goal and will play a different role within the ecosystem, there needs to be unified incentive metrics and structure in order to effectively and consistently align the interests of the stakeholders.

Fellaz token powers the Fellaz ecosystem and it is designed to align governance and financial incentives that will lead to increased ecosystem onboarding, which in turn will add to the viability of the Fellaz ecosystem as a comprehensive web3 entertainment protocol. The token will provide initially two primary functions: priority access and governance participation. Fellaz tokens can be staked as collateral to gain priority access to drops of new or exclusive collectibles, and metaverse performances and events within the Fellaz ecosystem.

Also, any amount of Fellaz token that is staked within the protocol is automatically granted governance weight accordingly and can participate in the decision-making process as a stakeholder. While the token utility as a social token can be discussed in the near future, as of now there are no plans to implement the ideas of a social token as the execution of this may cause legal disputes and will not materialize as promised.

We may introduce a node operation role that is unlocked by staking as an optional means of earning a cut of the ecosystem earnings. As a general rule of thumb, however, our default stance in regards to incentivization is to ensure metrics-based distribution. Any form of rewards and privileged access will be funneled accordingly to those that contribute and bring more value to the ecosystem through active participation, which in turn will drive demand back to Fellaz token.

Team

President / Bobby Bhatia

Core Developer / Brian Lee

Director / Steven Lee

Team Lead / Chris Sung

Global Associate / Svaja June