Functionland
The demand for cloud technologies is undeniable. With the development of Web3, projects have started to emerge that could drastically influence and advance this field.
Cloud technologies — involve providing computing resources on demand via the internet.
When cloud technologies became mainstream in the mid-2000s, it was a boon for both businesses and individual users. Companies could store vast amounts of data online, accessing it anytime. Users could safely store their photo archives, important data, and backups in the cloud.
Soon, major tech companies entered the scene.
Companies like Facebook and Google began creating cloud applications. Many of these promised services to be "free forever," benefiting from and monetizing customer data by sharing it with advertisers, software developers, or security agencies.
Then, cloud service providers shifted from the "free forever" model to a monthly subscription fee. Users had to accept the new terms since the hardware running cloud services was owned by the same monopolistic companies.
Thus, data storage became monopolized by a few companies. This raised a question — what if a user wants to store their personal files in the cloud independently and for free?
The Functionland project aims to change the situation, enabling everyone to control their data and participate in the advancement of cloud service technologies.
The Functionland project — combination of hardware (FxBlox) and software (Fula Network).
The project provides users with an infrastructure for cloud data storage and access to advanced technologies such as artificial intelligence (AI) and blockchain.
Functionland operates in the cloud computing rental market in a similar way to how AirBnb operates in the real estate market. Through the AirBnb platform, property owners can rent out their homes and apartments to clients worldwide without paying extra fees to real estate agents.
Similarly, Functionland enables users to own powerful private mini servers and rent out cloud storage.
FxBlox hardware — device for data storage, cloud computing, and interaction with other devices. It is a small server that fits in the palm of your hand. Its open-source software is user-friendly.
The FxBlox software connects the device through blockchain to all other FxBlox devices, creating backups of user data and securing them across the network.
Even if part of the network goes offline, users can still access their data from backups.
Functionland enables the use of cloud technologies without monthly fees and provides daily rewards in cryptocurrency.
Server owners are rewarded for voluntarily backing up other users' data, creating a self-sustaining decentralized network of cloud storage and computing resources.
Individual FxBlox devices, when connected in a network, form the Fula Network.
Fula Network — ecosystem consisting of a network of FxBlox devices and a protocol that ensures data privacy. The protocol allows the use of free applications and services within the Fula Network, rewarding users for sharing storage and computing resources.
FxBlox owners interact with the Fula Network as both consumers and providers of resources. It is not mandatory to have your own hardware to access services in the network, but users will have to pay FxBlox owners if they don't. This encourages users to purchase their own device to participate in the network.
Mini servers FxBlox are already on sale and can be purchased on the Functionland website.
Any Web3 developers can create their applications and services on the Fula Network, as it is an open-source protocol.
An example of such a service — photo storage app.
To date, it is the only decentralized service with a mobile app.
Users pay for photo storage, with data encrypted and stored in the Fula Network, formed by FxBlox mini server owners.
Functionland offers an easy-to-use decentralized alternative to existing centralized services.
Functionland started as a crowdfunding project with 900 backers who funded the FxBlox devices. The round closed in 5 minutes. All ordered mini servers were shipped worldwide, successfully launching the project's test network.
The Functionland project repository on GitHub ranks in the top 3 open-source projects by the number of stars. The project's developers host some of the most attended events in Dfinity, Polygon, and other communities.
Team
The experienced development team is based in Canada.
- Keyvan Sadeghi — сo-founder and CEO.
Actively involved in open-source software development since 2012 (when he joined the development team of the OpenCog AGI project). He holds a Master's degree in AI from the University of Southampton, UK. He has held various technical leadership positions for nearly ten years and has been associated with numerous startups, including two as a co-founder. He is the author of numerous publications in programming and AI development.
LinkedIn: https://www.linkedin.com/in/keyvanmsadeghi/
GitHub: https://github.com/keyvan-m-sadeghi - Ehsan Shariati — сo-founder and COO.
He has held executive positions in major retail corporations for over 10 years. He studied electrical engineering and earned a Master's degree from the University of Colorado Boulder.
Ehsan — full-stack developer with over 20 years of experience. He specializes in application and hardware development and has experience with various programming languages and PCB design.
He is a project manager with PMP, ITIL, and SCRUM certifications.
He developed several systems, including an automated shopping mall management system (ERP), an insurance ERP system, and hardware-software solutions for L'Oreal, the largest corporation.
LinkedIn: https://www.linkedin.com/in/ehsan6sha/
GitHub: https://github.com/ehsan6sha - Kate Withers — director of development and partnerships.
A business development and sales specialist.
She has worked with several startups and SMBs, overseeing funding, investments, and profitability.
She is a strategic advisor for machine learning projects at Centennial College and has been involved in creating a tech startup in the B2B construction sector.
LinkedIn: https://www.linkedin.com/in/kate-withers-hess-phd-33530023/
Investors
The project is backed by several prominent funds, well-known in the industry and among the crypto community.
- Outlier Ventures — oldest crypto fund, investing in blockchain projects since 2014.
The fund is famous for being one of the best crypto startup accelerators globally.
Their "Base Camp" program regularly hosts themed camps with emerging developer teams, helping them develop their projects and investing in the best of them.
At an early stage, the project went through incubation at Outlier Ventures, taking 1st place at their FileCoin BaseCamp, which allowed the team to gain experience and attract investor attention. - Borderless Capital — venture capital fund specializing in investments in blockchain and cryptocurrency projects.
Notable projects in their portfolio include Filecoin, Kraken, Polkadot, Polygon, Raydium, and LayerZero. - Cogitent Ventures — American investment fund based in California. The team has extensive experience in commercial and investment banking, technological innovations, management consulting, AI, and machine learning. The fund is conservative and prefers investing in infrastructure projects. Strong portfolio: Ethereum, Solana, Near, Avalanche, and Sui blockchains. They co-invested in the Entangle project.
- NxGen — young and dynamically growing fund, actively investing in and advising projects of interest.
NxGen supports startups throughout their market entry lifecycle, helping them find partners, investors, and service providers, including market makers, exchanges, launchpads, auditing firms, and influencers.
They prefer entering projects at the earliest stages, investing in teams with strong and charismatic founders, like Functionland. Their portfolio includes well-known projects such as Entangle, Truflation, Primex Finance, Privasea, and Koii Network.
Token Utility
The $FULA token supports the platform and community in several ways:
- allows users to pay for data storage in the network;
- enables the purchase of equipment using the tokens;
- serves as a means of payment within the Fula Network ecosystem;
- is used as a reward for server owners for utilizing their equipment.
Tokenomics
- Token ticker: $FULA
- Total supply: 2 billion
- Network: Ethereum
- Our round: Strategic (round valuation $30 million)
- Token price: $0,015
- Conditions: TGE 0%, 4-month cliff, then 10% unlock, remaining 90% linearly over 15 months
- TGE: September 2024
Seed round was held at a price of $0.010 per token.
Public sale will trade at $0.023 with a round valuation of $45 million on Seedify, SingularityDAO, Paid Ignition lunches.
Negotiations are ongoing for listing on exchanges ByBit, Gate.io, and MEXC.
Social networks & links
💻 Website: https://fx.land/
💻 Docs: ссылка
🐦 Twitter: https://x.com/functionland
💻 Telegram: https://t.me/functionland
💻 Discord: https://discord.com/invite/k9UybUBdBB
💻 Youtube: https://www.youtube.com/c/Functionland
💻 Github: https://github.com/functionland/docs
💻 LinkedIn: https://www.linkedin.com/company/functionland/
Functionland — promising project that combines blockchain and cloud technologies using physical hardware. For the past three years, it has been developing infrastructure for cloud data storage. It offers a decentralized alternative to existing cloud services, following the popular DePin narrative.
The team has been working together for a long time and is actively developing the Fula Network protocol.
Mini-servers are already being sold worldwide, with $500,000 worth of devices sold in the last year.
With a strong investor base and excellent round terms, the project is set to launch its TGE in September 2024.
We highly recommend adding this innovative, in-demand, and promising project to your portfolio.