FUFU is a viral content marketing platform utilizing the versatility of quizzes to fulfill your goal.

On September 23, Charlie Rhee, CEO of FUFU joined us to answer our questions.

Charlie R, FUFU CEO

I worked in finance for over 10 years and then started a business developing tools for live streamers to engage and grow their viewers. We also have been working with global gaming companies developing tools for their games or professional league live streaming.

Questions from the CryptoRank team

#1. Can you tell us about FUFU? What problems do you solve, both in the space and for the community?

Charlie R.: – Working with gaming companies and brands we realized they have massive digital marketing budgets, ($356 billion in 2020 in fact) but are ineffectively deploying them. They end up allocating 30-50% of these massive budgets to google banner ads and Facebook ads which are not that great. When is the last time you clicked a banner ad? But they end up using them because they can reach many potential users in one go. They know content marketing is the most effective, but it is difficult to deploy at scale.

We developed the content marketing platform UwUFUFU.com last year while working with live streamers and YouTubers as they saw these interactive quiz-type content growing in Korea, but was not offered outside. So we developed it and it was helping content creators engage with their viewers and grow their channel. We see the power of user-generated quizzes as they cover many categories and topics, and are very viral in nature. This organic growth is an opportunity for advertisers to use quizzes as a content marketing medium and a more effective way to deploy their advertising budgets.

Our users are already organically using our platform, so we want to share the value they create by implementing a reward system. The reward delivery mechanism will be ‘Loot balls’ and in the loot balls, they may contain NFTs, FUFU tokens, or nothing at all. Users earn loot balls by simply doing what they already are doing. They earn loot balls for playing quizzes, creating quizzes, and sharing quizzes on youtube or live stream. Brands can mint NFTs to be distributed via our reward system, and there is utility in the NFT. Holders of the NFTs gain access to the brand’s future marketing campaigns and events. It could be early access to a new game, or skin in a game, or new product or merchandise drops, there are endless types of marketing campaigns that can be executed.

#2. Could you shortly describe the milestones FUFU has achieved, and about your upcoming plans?

Charlie R.: – We have had tremendous growth over the past few months going from 13,000 MAU to 250,000. Thousands of quizzes have been creating covering a whole spectrum of categories and subjects. Now that we proved the basic hypothesis interactive quizzes are viral and fun to play, we will be launching FUFU utility features on the platform. Starting with our dual IDO on September 30th on BSC Station and NFTPad.

Questions from Twitter

#1. What gave you the motivation to start this project and If you were to be asked, at what heights do you see this project in 5 years’ time?

Charlie R.: – We have been making tools for content creators and live streamers for the past 4 years. FUFU started as content creators saw this type of quiz trending in Korea and asked us to make an English version as they wanted to play quizzes on their channels with their viewers as it was great content.
At the same time, we also have been working with global gaming companies helping them develop tools to deploy their marketing budgets. That is when we saw how ineffectively they were relying on banner ads. So we decided to develop this FUFU project further which was already having success with content creators.

In 5 years’ time, we expect FUFU to be a platform that advertisers use to distribute content marketing campaigns at scale. It will be one of their many options to deploy marketing campaigns, and we believe it to be a more effective way to deploy their marketing campaigns.

#2. Do I need to be a FUFU token holder to mint NFT, play games or participate in sponsored quizzes? How will $FUFU holders generate income?

Charlie R.: – When we deploy NFT minting capabilities soon, users will have to pay in $FUFU to mint NFTs, so therefore yes you need to hold $FUFU to mint NFTs. 20% of all $FUFU paid to mint NFT on UwUFUFU will be locked in as the underlying asset. So the more NFTs are minted, the less $FUFU is in circulation. You do not need to hold $FUFU to play quizzes or participate in sponsored quizzes, if anything you MAY receive $FUFU via the reward system for playing the quizzes.
$FUFU holders can generate income in several ways as we continue to add utility to $FUFU as well as the NFTs distributed on UwUFUFU. $FUFU holders can generate income by minting NFTs and they can receive royalties on future transactions. We also will be offering staking to earn $FUFU for staking $FUFU. NFT holders will gain access not only to future marketing campaigns but other benefits on UwUFUFU such as access to premium services. There are much more FUFU utilities planned for development, we are excited to share them once we launch these features so join in on the ride.

#3. Will FUFU holders participate in governance? Will we be able to use it for the development of the project?

Charlie R.: –  Yes! $FUFU holders will have voting rights for governance proposals. It will be quadratic voting. Not everyone can submit governance proposals. You must earn reputation points to submit governance proposals. You can earn reputation points by creating quizzes and climbing the leaderboard. Our users who create the quizzes are driving our ecosystem as they are creating the content and generating the traffic. We want to reward them by creating monthly and quarterly leaderboards. So the more people who play their quizzes, they will climb the leaderboard and earn reputation points. If they have enough reputation points they can submit governance proposals for voting.

Questions from Telegram

#1.  I saw something about “Sponsored Quizzes, pay per 1000 quiz participants (CPP – Cost Per Play)” on your website, can you tell us what this means? Are there special incentives for sponsored quizzes? Players & Content Creators receive Loot Balls as rewards for creating and playing quizzes, what can we do with these Loot Balls and how do I earn more of them?

Charlie R.: – Typically when advertisers use Facebook ads or Google AdSense, there are many methods of payment but the standard is Cost per impression (CPM) They pay per 1000 people who see it or Cost per click (CPC) they pay per 1000 people who click the banner. On UwUFUFU we will have “Sponsored Quizzes” which are quizzes advertisers pay to create. Paid quizzes will have priority placement on the site and will show on the feed here and there, just like you see Facebook or Instagram sponsored posts. These are Cost Per Play, meaning the advertisers pay per 1000 times the quiz is played.

Users who play sponsored quizzes gain extra boosts to reward system drop rate. So they have a better chance of getting a loot ball containing $FUFU token or NFT by playing sponsored quizzes.

#2. The users’ community is what gives projects value and life. What are FUFU’s plans to attract the community? What kind of help does the project expect from the community?

Charlie R.: – Yes you are right, users are a key part of our project. UwUFUFU is user-created content as it is our users who create the quizzes. It is also user-generated traffic as the people who create the quizzes then go out to the various communities and bring the people by sharing with their friends and communities. That is why we want to reward our users for the organic activity they are already doing. They are not doing it for the incentives, they are already doing all this. Content creators like Youtubers and twitch streamers are also playing our quizzes on their channels amplifying the network effects.

We expect the community to continue to drive growth and that is why we are adding the leaderboard system to give reputation points to our best quiz creators so they can submit governance proposals.

#3. Can you briefly describe your partnerships so far and upcoming partnerships?

Charlie R.: – We were lucky to have many partners and investors in the early stage. GBV Capital and Faculty Group are our first partners and advisers. We also have X21, 4SV, ZBS Capital, PANONY, Alphanonce, Impossible Finance, Box Mining, BlackEdge Capital, Morning Star Ventures to name a few. We are happy that CryptoRank is hosting this AMA. Also, we have a strategic partnership with BSC Station that is one of the launchpads we are doing dual IDO on. Finally, we have a strategic partnership with Enjin as well and we have many more that we will announce.