Web3 affiliate marketing protocol Fuul has moved from stealth to private beta. New York City-based Fuul uses blockchain to automate affiliate marketing between his Web3 brands and creators.
“Every affiliate program on the Fuul protocol is a smart contract in itself,” Leandro 'Locha' Schlottchauer said in an interview with The Block. He is the co-founder and CEO of Kuyen Labs, the developer of the Fuul protocol. Fuul added that it also handles distribution, attribution, and payments as referrals are settled on-chain.
Fuul charges an 8% commission on top of affiliate commissions and is currently compatible with the EVM network.
Mr. Fuul attended a16z’s Crypto Startup School this year. The school provides startups with mentorship and networking opportunities for cryptocurrency-focused venture companies. Fuul received additional support from his DCG Expeditions, the investment arm of his DCG that focuses on funding early-stage companies.
Fool's future plans
Schlotchauer said Furl raised an undisclosed amount of funding from angel investors, which he said “lit the lights” and covered the engineers' salaries. The Fuul team currently consists of eight people. The company hopes to raise formal seed funding within the next year.
Fuul's immediate plans include adding more engineers, onboarding more Web3 builders to the platform, and beginning the path to decentralization, especially when it comes to attribution.
“It's definitely a long road towards decentralization, but that's what we really want to achieve,” Schlochhauer said. “We believe that Fuul’s mission can only be achieved if the protocol is decentralized.”
Correction: Fuul is a protocol developed by Kuyen Labs.
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