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Arbitrum x Fuul
Recorded: Nov. 29, 2023 Duration: 0:35:19Space Recording
Full Transcription
Thank you for joining us.
And fuel is a affiliate marketing platform that recently launched on Arbitrum.
So, so yeah, that's why we are here today.
And yeah, now I would like to say hi to Locha.
part of this ecosystem um so yeah just a little bit about myself as you mentioned i'm the co-founder
and ceo at we and labs we are the software development company that plays a main role
today in actually developing and launching the the fuel affiliate marketing protocol
fuel is basically an affiliate marketing protocol that helps crypto projects partner with
influencers publishers and pay for referred transactions um so i would say that my journey
in marketing started a while ago i first started my career working more in marketing in 2014 at
kind of like the xp of latin america working a ton with attribution uh on growth on you know
social campaigns to drive mobile app downloads uh then after some time i started my my first company
which was a second-hand electronics marketplace in latin america where we actually used a ton
affiliate marketing to to grow um and then i would say by the year 2020 i started seeing the rise of
p5 the rise of gaming nfts and i realized that you know there would have to be some
rails for projects to actually go to the mainstream and those rates would be coming to the space in
in the form of marketing uh so that was a good time for me to reconnect with my journey crypto
which you know started in 2014 you know passively buying bitcoin and other and other coins i'm from
argentina so you know crypto and bitcoin made a lot of sense early on but it was not until that moment
in 2020 when i realized that now for the first time i could actually contribute to the space
through my background in marketing um yeah at that point i started uh you know working
on different growth roles for different work through protocols and i realized that
work through growth is really really hard and you know just to name a few of the challenges that i
faced myself number one was that user acquisition is super hard and fragmented because there are no
self-serve user acquisition channels so very different to you know setting up a google ads
campaign or a facebook campaign where you can actually in a matter of seconds be you know up and running
on many many websites and doing lots of impressions here i would have to manually dm influencers publishers
just to expand our reach so that was really hard to scale so imagine i had to you know source these uh
potential partners i had to bet them i had to negotiate with them and then finally you know manually
in a manual way pay out to them uh so that was not scalable at all and probably the second challenge
that i faced was that even if we were to pull off these partnerships with with these influencers and
publishers i really had a bad time understanding what was the actual benefits that we were getting
from these uh partnerships in the form of you know on-chain activity because none of the software
like google analytics or mixed panel would actually tell me how much on-chain activity we were driving
um yeah i just went out to talk to other people that were maybe more experienced in the space than
myself and i realized that
yeah like i totally agree and sorry just just to confirm can you hear me to start building fuel
yes can you hear me oh yeah you're back sorry i think i i lost you for for for a moment
oh sorry about that what when did you lose me oh no you like i lost you like just two seconds so
so yeah we are we are good
oh okay that's good to hear so yeah i was saying that uh out of my own frustration as a
worker marketer myself uh i decided with my co-founder andrew to to start building fuel
wow nice yeah that's uh i think that's a great story and yeah that thanks to your background and the
experience you have in the marketing um industry or marketing area uh you you are now launching full
and yeah that's that's very very cool and well i just uh i just would like to know like if uh i'm sure
that maybe here maybe there are some arvinouts that are hearing fuel full for the first time so
what will be the best way for them to start getting involved and getting to know more about
fuel um i'm i'm i'm sharing here some content that you you shared already uh or do share before and i
find it very very explanatory but what's the best way for them to get to know more about it
yeah so the first thing i would say to smash that follow button on on twitter or x and follow our
account but then i mean i would say that fuel is a two-sided network so on one side we have you know
projects uh that are building you know in crypto projects that you know want to have scalable user
acquisition so what these projects will do is they will basically set up what are conversion events
that are relevant to them so you know for a d5 protocol this could be adding liquid into a pool this
could be you know having a user make a swap or a gaming project this could be a user maintain nft so
any conversion event either on or off chain could be marked as a as a conversion then these projects
define what are the rewards that they're willing to pay out to anyone that brings more users that
convert into those events and then finally the protocol uh you know handles affiliate link generation
for anyone for any you know ambassadors for any influencers publishers anyone that wants to come in
you know contribute to the to the affiliate program and and earn rewards so that's on the project side
and i touch a little bit on the creator side or or affiliate side as well uh but specifically for
the affiliate side um fuel is powered by smart contract which makes it trustless you know makes like
this partnership with with the project uh way more transparent because you know it's good to know that
any affiliate program that is live on the field protocol has a budget that has been escrowed into
the smart contract so that means that for you as an affiliate as long as you refer users that
trigger these conversion events you are 100 sure that you will you know get paid you will get your reward
because those funds will be available on the smart contract uh so yeah that's just like a small recap
fantastic yeah that's that's a very straightforward process and and yeah but a huge opportunity here for
for the projects that are looking for new ways to interact with their community and using this um the the
features that full is is bringing and i i would like to know like more about this topic like based on your
experience in in marketing in general and also in web marketing web3 can can you talk more about the role
of affiliate marketing in web3 like what what's the difference um from traditional affiliate marketing
and affiliate marketing in web3 and what are those best practices that you can you you have found or you
have found sure so yeah like basically i think i touched on what is affiliate marketing but for starters
affiliate marketing is when you know a service a product you know mainly in web2 these are e-commerce
these are banks these are you know insurance companies like literally anyone it's basically
proposing a commission towards anyone that brings users and convert into specific events
um so this has been like a massive industry in web2 actually i would say that the pioneer
of the industry has been amazon when in 1996 they launched their amazon associates space uh program
sorry and you know if you see most of the youtubers that you see reviews online or you see blog posts
they're usually you know uh you know reviewing products but then sharing these amazon links that will
actually earn them rewards if you buy through those things so this has turned out to be crazy right
tiktok as well it has been crazy and what we've been seeing over the past few years is that affiliate
marketing is growing more and more and the reason is because it proves to be a more authentic channel
and also a less expensive channel than maybe other mainstream uh user acquisition channels like google ads
facebook ads because if you think of it today almost every single company um is doing some of those ads
so like there's a lot of competition and you know cpc cpms have skyrocketed um so there's i feel like one
superpower that affiliate marketing has in work 3 that it doesn't have in in work 2 which is transparency
right and you know basically these affiliate marketing programs are partnerships and transparency in any
type of partnerships is key you know uh and the reason why i think this is a transparency feature that
web3 offers is because for example any affiliate program on fuel uh is a smart contract of itself which
means that you do not need to trust that the advertiser has closed the sale or has not closed the sale
because of your for example if you refer someone you know what to end of the month you get a report from
the advertiser telling you okay this transaction i closed this transaction it didn't go through this one was approved
and you as an affiliate in web2 you just need to trust and the reason for that is because
you have no insights or no visibility into the database for that e-commerce store but now in web3
we have full visibility pun intended about what transactions actually went through uh through your
affiliate link uh so that is a superpower that i think will make affiliate marketing really take off to a
whole new level uh in web3 and and thanks to blockchain technology
yeah to be honest that's that's huge whole whole blockchain technology how ethereum how arbitrum is
a boost in this transparency on on the affiliate marketing that's that's huge to be honest and yeah a
huge opportunity for for the the web3 projects and uh and at the same time to the community in general to
the users that are using uh those all all the web3 protocols or projects that are out there so yeah cool to see
that and now that you have launched fuel on arbitrum what do you think about the impact that this can
uh made to other arbitrum projects yeah that's a really good uh question actually i'm really excited to
share today some features that you know arbitrum uh or are being outs uh will be able to to use now if
they're uh either a project or an affiliate in the space so the first thing that is really important to
to know is that now projects building on arbitrum will be able to set up a conversion event
that is listening to their smart contracts on arbitrum so or you know any type of event or
function that gets triggered on on an average of smart contract that could be selected as a conversion
event on a fuel affiliate program okay so that's that's very important the second thing is that now
if you're a project building an average room again you can set up your fuel affiliate program smart
contract because again every fleet program is a smart contract of itself you can set that up on
arbitrum so you can deploy that on arbitrum which means that any affiliates that you know engage with
your with your own platform and of course meet with your affiliate program will be able to
claim their commissions directly on the arbitrum chain so that means no more
bridging from other chains into arbitrum or you know uh no wasting time on on any of that so that is also
huge and the last thing third thing that also i think is really important and especially now this season
is regarding the arv token as a payout token that is now enabled on fuel so that means if
you're a project that has received uh some arv tokens through the short-term incentive program or steep
you can use those arv tokens towards funding affiliate programs on fuel so that is also a really cool
uh opportunity that that projects uh and of course you know the other way also goes to to affiliates so if
you're an influencer if you're you know a publisher you're active on the arbitrum ecosystem uh you love
some projects that are on fuel and they're also building arbitrum you can you know share about
these projects you can earn commissions from successful refers that you do and you will be claiming
um those commissions on arbitrum directly
so i would say those are the the main benefits uh that we're bringing to the average ecosystem
and of course we're very excited to continue onboarding projects onto fuel and see more and
more projects coming from the arbitrum ecosystem great fantastic yeah well uh there are more than
two thousand uh the apps on arbitrum and projects so so yeah i'm sure that this could benefit a lot of
them so so yeah cool to see good to see you here in in the arbitrum ecosystem and to have you as part of the
family and by the way like let's say like this uh these projects are or what there is a project that is
looking for grow like at the end these are uh tools that a company's projects can can can use or or even
people like these are tools that they can use to to grow at the end so i would like to ask you what
advice you what advice do you have for projects or individuals that are looking to bring a scalable user
acquisition using this for example yeah that's a that's a great question and it's one that
you know i've been thinking about it a lot as well personally um so i think you know scale of
risk acquisition uh in a big way is affiliate marketing and actually if you go in web 2 and you see
most like 99 of e-commerce brands or you know banks they use affiliate marketing as an ongoing channel
and when i talk with many web 3 project founders or growth uh you know experts i usually like to say
that in order to launch an affiliate program you need to consider three key areas and it has to do with
the who the how and when okay so what i like to see on a project that is launching a flip program and
answering to the who is whether this project is already monetizing or not we really would like to see
a project that is already you know earning revenues so they can share a part of those revenues
with their own community with affiliates that actually putting a lot of effort into growing
this platform okay so that is something key and you know having those revenues and sharing part of
those it's about you know building the affiliate program as a sustainable channel okay so that has
to do with that the second key area is on the when and that is okay when is the best time to launch
the affiliate program because if you launch it too early you might kill it if you launch it too late
maybe your competitor actually took over um so to answer the when my simple answer is that
the time to launch the program is when you already have a good set of champions that already like your
product like your platform and they are happy to refer others who use your platform product um
and you're we're putting actually like that referral incentive on top of it just to do it in the deal or
just to you know provide an extra incentive but you should have already a product or platform that is
good enough for them to be intrinsically motivated to carry that without okay and the last piece that
i want to touch on is on the how and to launch a few program you know we've seen already a few in crypto uh
some have been developed in house we're now enabling projects to in a very fast and free way to deploy
theirs uh on top of the field protocol um so you have those two routes now you don't need to build it in
house you now can use the field protocol to do that um so in that sense on on the how i would say that
i would always try to favor an affiliate program that really leverages the transparency that blockchain
can offer so in that sense i am of course biased and i i won't really answer this last one uh but i would
say always try to strive for an affiliate program that is fully on chain and then you can actually
show and be transparent as much as possible uh with your affiliates on how uh they these referrals
they did convert or not so yeah it's sorry for the long answer but i i thought it was good to lay that up
yeah totally thank you so much for sharing your your knowledge like and everyone here who is interested
on or market on marketing or growth you you you should pay a lot of attention here and don't worry
because if if you missed anything don't worry because this is this is recorded so you can
re listen this over and over again and cool and what about uh i wanted to ask you about the the content
creators like we've seen how content creators now have a huge impact on on everything like would you see a
lot of content creators on on youtube on tiktok on instagram etc etc and they like the people
are starting to buy things or try things because these these people are the ones who are suggesting
the the the community to to use to use something so i would like to ask you about these roles like
what are the your advices for them for all the for the web tree content creators for example that that
have a big audience what what would be the best for them yeah so my recommendation to them is to you know
build content to be as authentic as they can actually as you were saying like one of the things that you
know i personally shop from for many influencers and you know the content is authentic is probably if
i'm seeing a picture or a video it's from a totally different angle uh from what you know i would see
on you know one specific website or an institutional website right um and actually i i think that many
times influencers do a better job at explaining what a brand or what a service or a project does
uh better than their founders i'm actually sometimes i'm impressed like when i hear somebody tell a
friend of them like what field does you know in a one-liner i usually i'm like wow that is better than i
actually explain it uh so yeah my recommendation is to be as authentic as possible um nowhere in order
to launch a newsletter to do videos on youtube to to some threads on twitter also to to set up like a
blog um there's so many tools right now uh geared towards creators and you know it doesn't have to be
like the fanciest equipment to to get started or like the best web design or or anything it's just
like it's all about like this authentic content and yeah i would say like if you're a creator if you're
a potential affiliate that would like to be interested in you know monetizing your audience or your
content through the fuel protocol please uh you know please come to to to the fuel uh protocols website
uh you'll be able to to sign up we're gonna be you know opening up the the affiliate platform shortly
uh and hopefully through fuel you'll find many of the projects you already know and you love and you
are already referring and now you'll get the chance to also monetize this content uh through a few
protocols
fantastic yeah those are great advices thank you very much and uh nice well a i'm wondering if
someone here in the community has a question please feel free to share it in the chat uh we'll we'll be
happy to answer any questions you have and nice fantastic i i would like to ask you like a more about a
what's next for for fuel like right now you just announced the lounge uh so wondering if there's
something you are planning something you are planning into the future maybe some any event or or anything
well just just asking this one in case you can share something if you cannot share share
something else no worries like we understand that that maybe you're you're going to wait till this time
yeah of course so i think i i gave it uh away a little bit and basically we'll be uh opening up our
affiliate platform which is intended for affiliates for you know influencers publishers to come in and
and see this aggregated view of all the projects that are up and running on top of the protocol uh
so yeah to all of those that you know uh you know been applying to join uh and get access to
to this platform from early on like we really appreciate your support and your excitement about
fuel uh it will take us just a few more weeks to to open that up uh and if of course if you haven't
yet um created your affiliate profile on fuel please do uh through the through our website uh and i think
that's gonna be our probably our next announcement and we'll continue to do many announcements and
yeah i don't think my my team will let me uh continue very more
yeah no that those are huge announcements and yeah if we want to get to know more about what what
fuel is cooking uh let's go and give them a follow on on x and then locha as well i think
uh people can reach out to you as well if if if they have some questions and yeah well we i think
we are we're about to finish this ama but wondering if you would like to share something else to the
community or or a call to action for them yeah so like i would say if you're a project and you're looking
you know to to have like an affiliate program to have like a sustainable um you know traffic source
uh that you'll make sure to to only pay when you actually get referred transactions please uh check
out fuel uh the fuel protocol is starting out we're signing a great great traction and and we're really
happy with uh how things are going so please make sure to check it out and if you're an affiliate if
you're an influencer publisher you have your own newsletter you like to tweet about the projects that
you love uh also please set up your affiliate uh profile on fuel uh yeah i think that that would be
my call to action to everyone and please do reach out to me if you have any questions any suggestions
uh dms are open and yeah happy to learn more about you great thank you congratulations for this launch
we are super excited to have you in the arbitram ecosystem and yeah welcome to the fam and we're
going to keep posted on what you're building and yeah i'm sure that we'll be in a new ama soon
but yeah thank you very much for joining us and for your amazing advices for everyone and sharing your
knowledge awesome thank you so much fam we'll talk soon a good one
let's go have a great wednesday
let's go have a great way
let's go have a great way
let's go have a great way
