The company’s tools enable brands and creators to foster deeper engagement by blending real-world experiences with the digital realm
CUB3 (pronounced cube), the loyalty platform revolutionizing how communities reward active and valuable members, announced a $6.5 million Series A co-led by BITKRAFT Ventures and Fabric Ventures. This follows on from a stealth $2 million seed round in November 2021, led by Fabric Ventures. The funding is being used to launch the company’s Proof of Behavior™ protocol and platform that automates Web3 rewards based on people’s real-world activities.
CUB3’s platform lets brands create their own incentive programs to increase engagement and retention. Brands can use the self-service tool to launch campaigns directing users to complete specific behaviors on different platforms across Web2 and Web3 and reward them with money-can’t-buy perks and experiences via digital collectibles. For example, users that send positive tweets about the brand, upload videos of themselves dancing to Tiktok, and complete a yoga class in branded gear will earn points and tokens that can be traded for anything from exclusive content to discounted merch.
“Web3 has incredible potential when it comes to new models of interaction, commerce, and value distribution by enriching the user experience in digital and real-world crossover applications. For record labels or musicians, CUB3 can direct listeners to new music, encourage fans to share music on different platforms, and reward fans who buy tickets from the musician directly. We consistently see rates of up to 50% engagement in a space where 5% is considered good,” commented Dr. Muddy Bhatt, Co-Founder and CTO.
Currently in beta and deployed across a number of live campaigns through 2022, CUB3’s key innovation is Proof of Behavior™ (PoB). When it comes to offline activation, the company’s systems use AI and ML to identify and evaluate behaviors across platforms and into the real world. Activity and rewards are stored on the blockchain where users can see their own progress in comparison with the wider community and brands can access analytics to measure ROI.
“From receiving a digital collectible for a retweet to incentivizing fans with unique rewards for streaming artists’ new music, Cub3 is creating a Proof-of-Behaviour Protocol including a full-service Web 3 toolsuite where brands, publishers, agencies and artists can use positive reinforcement to create brand alignment and incentivize user actions. The veteran team has decades of experience in the fields of technology, AI, ML, media and will leverage their deep expertise to revolutionize how active and valuable members of communities are rewarded,” commented Malte Barth, Founding General Partner at BITKRAFT Ventures.
“CUB3 to us represents a significant step forward in the extension of the loyalty programme beyond the traditional, and stale, exchange of points for money spent. Crucially for Fabric it is a leading example of a mass-market application of blockchain technology, with low friction on-boarding and Web2 engagement” commented Anil Hansjee, General Partner at Fabric Ventures.
CUB3 is committed to being environmentally friendly and uses low-carbon blockchains with options to offset digital assets by planting micro-forests.
