FUEL enables creators to build their own custom-branded NFT shop without any technical knowledge required – a “Shopify for NFTs”. It enables creators to launch, manage and grow their own NFT collection using tools seamlessly integrated under the roof of the FUEL platform.
Founded by four of us – Csongor Barabasi, Thanh Binh Tran, Stefan Tietze and Patrice Deckert – FUEL is aiming to bring NFTs further into the mainstream – in the hands of millions of creators and their fans.
What do you think makes this company unique?
Even though we see growing adoption, NFTs are still in an early phase. Currently, the barrier of entry for creators is very high. The market has outgrown the basic sales functionality of aggregation platforms like OpenSea, and creators need more tools to succeed in the next phase.
At FUEL we have one principle that guides all our product and technology choices and makes us different: we make the complex simple and accessible. We use this principle to lower the barriers of entry for our creators and their fans and fuel NFTs into the mainstream.
With FUEL, creators can build a fully customized NFT shop within minutes and start engaging with their fans, all through drag and drop, no coding required. For fans, through a super simple onboarding, zero gas fees and credit card checkout, buying NFTs will be just like shopping on Amazon.
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How did you come up with the idea for this company?
We both were big fans of the idea of a decentralized internet since 2017; initially we got into the space by investing in cryptocurrencies. Then in 2021 the NFT breakout happened and that’s when we felt that this technology is here to stay and will shape the future of the web.
At the same time we still felt the whole NFT space was in MVP phase because we kept saying “This could be so much better if it would do X.” As an entrepreneur there’s a point when you’re done with asking questions and you get to building and execution … and that’s what we did.
The choice to start with music was because we saw that musicians were the most hit by the pandemic – no touring, no merch sales. They clearly needed a new revenue stream. At the same time music NFTs are still in their infancy, which we’re very much surprised of, since music fandom is very strong and brings people together. We expect 2022 to be the year of music NFTs.
What can we hope to see from FUEL in the future?
We’re already working with Tomorrowland-DJs Mat.Joe and several other yet-to-be-announced top artists and labels, aiming to launch several NFT drops in the next couple of weeks.