Fuul: Automating Affiliate Marketing for Web3 Brands and Creators
Fuul, a web3 affiliate marketing protocol based in New York City, has emerged from stealth mode and entered a private beta phase. The protocol, developed by Kuyen Labs, aims to automate affiliate marketing between web3 brands and creators using blockchain technology.
According to Leandro ‘Locha’ Schlottchauer, the co-founder and CEO of Kuyen Labs, every affiliate program on the Fuul protocol is a smart contract. Fuul handles distribution, attribution, and payouts, settling referrals on-chain. This automation streamlines the process and ensures transparency.
The Fuul Protocol’s Features
Fuul charges an 8% fee on top of affiliate commissions. Currently, it is compatible with EVM networks. In addition to participating in a16z’s Crypto Startup School for mentorship and networking opportunities, Fuul received support from DCG Expeditions, the investment arm of DCG that focuses on funding early-stage firms.
Future Plans for Fuul
Fuul secured funding from angel investors to cover operational expenses and engineer salaries. With a team of eight members, the company plans to conduct an official seed fundraising round next year.
The immediate goals for Fuul include expanding its engineering team, onboarding more web3 builders onto the platform, and working towards decentralization, particularly concerning attribution. Schlottchauer acknowledges that achieving full decentralization will be a long journey but believes it is essential to fulfilling Fuul’s mission.
Hot Take: Fuul Revolutionizes Affiliate Marketing in the Web3 Era
Fuul’s entrance into the affiliate marketing space brings automation and transparency through blockchain technology. By utilizing smart contracts and settling referrals on-chain, Fuul eliminates the need for intermediaries and ensures fair attribution and timely payouts. With plans for expansion, including a seed fundraising round and onboarding more web3 builders, Fuul aims to become the go-to platform for web3 affiliate marketing. Its commitment to decentralization reflects its dedication to creating a truly transparent and equitable ecosystem for brands and creators in the web3 era.
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