Do you think that friends with benefits can turn into more?

I have been hanging out with this guy for 10 weeks now. We never really discussed being FWB; we meant on a dating site. I kind of umed it was something more until recently and then I found things out and I am pretty sure FWB is all we are. He is a really great guy. We have a lot in common and a good chemistry. I spend like 5 or 6 days a week with him. I will go up after work and if I am off the next day we typically just hang out all day like going to the movies, lunch, or just chillin at the house and I stay the night again. He even seems to trust me enough to leave me there if he goes to work. He treats me like a princess. No one has ever been this nice to me. He is protective of me, especially from myself. If I do something he sugar coats it. I have meant several of his friends. Some of them knew about me prior to meeting me. They ask questions like trying to get to know me like about my family, my religion, my job, etc. He treats me like I am his girlfriend, even in front of them. He hold my hand and touches my leg. He even kisses me in front of them. When we take his dog for a walk, he puts his arm around my waist and he will stop and kiss me. He is vey affectionate towards me and loves to cuddle. We get along good; I love being with him. Honestly, I feel like I can talk about anything with him. He is a good person. The thing is I am developing feelings and I have had to kinda distance myself because of that. He talks with other women so I know we aren't serious. I don't know whether he is hooking up or not. Do you think it could turn into something more or should I walk away before I get hurt?