Faculty Group Invests in BonusBlock: The Web3 User Marketplace
We are pleased to announce our strategic investment in BonusBlock who have raised $2.3M in a private round.
BonusBlock solves Web3’s largest ask: quality on-chain product users. So many projects struggle with building user acquisition strategies and channels for building engagement, requirements for traction and long-term project success.
Having sold out their IDO quickly on EclipseFi, another one of Faculty Group’s portfolio of companies, BonusBlock was today listed on Gate.io and Bybit central exchanges.
BonusBlock’s on-chain marketplace doesn’t just connect Web3 users with quality projects but it also qualifies those users based on their wallet activity. This tiering system allows them to target users based on their on-chain activities and the value they bring to the ecosystems they participate in. This is a win-win for everyone involved.
Why BonusBlock?
As part of our investment thesis, we have seen many projects struggle to acquire product users or build go-to-market strategies that gamify the ability to attract and engage users when it comes to product traction. The current alpha culture rewards short-term gains rather than active user participation. Projects need product users who will add value to their ecosystem. BonusBlock creates alignment between on-chain activity and its value for a project’s growth.
Sebastian Cheek, Head of Investment at Faculty Group, sums up the investment committee’s decision, saying:
“Often when we review projects, things break down when we discuss their go-to-market strategy and their ability to onboard users. Sometimes there can be a big disconnect between active users and total users. By using BonusBlock, projects can ensure they target the best Web3 users.”
Our investment in BonusBlock reflects our commitment to supporting best-in-class projects and founders. At Faculty Group, we continuously explore new narratives and investment opportunities in our search for the best, regardless of chain or layer, that align with our vision for 2024 and beyond.
If you want to work with us or discuss deal flow opportunities, reach out to vc@faculty.group for more information.
Faculty Group
