CUB3 Raised $6.5 Million in a Funding Round to Launch Web3 Rewards Platform
Key Points: CUB3 has announced a $6.5 million Series A fundraising led by Fabric Ventures and BITKRAFT Ventures. This funding will be used to fund a loyalty network called CUB3, which aims to revolutionize the way communities reward engaged members.
The company will use the fund to launch its Proof of Behaviour platform, protocol, and platform. This automates Web3 incentives based upon actual user actions.
Venture capital firms Bitkraft and Fabric Ventures led a $6.5 million round of funding for CUB3, a customer loyalty platform that automates Web3 rewards based on real-world behavior. Venture capital firms Bitkraft and Fabric Ventures led a $6.5 million funding round for CUB3, a customer loyalty platform that automates Web3 incentives based upon users’ actual-world behaviors.
Web3 offers incredible potential for new models of interaction and commerce. It enriches the user experience through digital and real-world cross-applications. CUB3 is a tool that can be used by musicians and record labels to direct listeners to new music. It also encourages fans to share music on other platforms and rewards fans who purchase tickets directly from the musician. We have seen engagement rates as high as 50% in a space that is normally only 5%.
Organizations can create their own loyalty programs through the CUB3 platform to increase engagement and retention. Brands can use the self-service tool for creating campaigns that direct consumers to take certain actions on different Web2 or Web3 platforms to earn incentives. Participants who complete the program will automatically receive rewards for both online activities and physical activity.
“From receiving a digital collectable in exchange for a retweet, to incentivizing streaming artists with unique rewards, we can help you motivate fans. CUB3 has created a Proof-of-Behaviour Protocol, which includes a full-service Web 3 tool set that artists, publishers, and agencies can use to incentivize user actions and create brand alignment. “The veteran team has decades-long experience in technology, media, and AI and will use their deep expertise to revolutionize the way active and valuable members are rewarded,” Malte Barth (founding general partner at BITKRAFT ventures) said.
Bhatt was previously the chief of artificial Intelligence at Verses, a provider of spatial intelligence platforms and computation platforms. He was also a research engineer at Google DeepMind. Bhatt was the original creator of Verses’ sorting, slotting and routing algorithms. He left Verses in 2020 to start CUB3. CUB3 is at the intersection of data analytics and blockchain. The startup’s first technical staff is entirely made up of former Verse AI engineers. Solana is also supported by CUB3 in beta. The business claims that Polygon is recommended for clients with no network preferences, as it is user-friendly. It was used for several campaigns up to 2022. The blockchain allows users to view their individual achievements in relation to the greater community. Brands have access to statistics to calculate ROI. All actions and awards are maintained on the blockchain.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuHaroldCoincu NewsTags: AmazonCUB3EthereumFabric VenturesMuddy BhattPolygonVersesWeb3