But blockchain economy london summit, cryptonews I had the opportunity to sit down with Daniel Turner, founder of Pledge3r and GrantTree, to discuss the game-changing potential of non-fungible tokens (NFTs) in the world of startup funding.
During the interview, Tanner shares his expert insight on how NFTs can offer a unique fundraising model for businesses, and how this innovative technology can benefit both startups and investors.
NFTs as a Startup Fundraising Tool
Tanner’s experience in the startup world inspired him to explore NFTs as a fundraising tool for businesses. As the founder of GrantTree, a company that helps tech startups obtain government funding, Tanner has been deeply involved in the startup ecosystem for over a decade.
After leaving Granttree in 2019, he rediscovered himself through crypto and NFTs, and realized that NFTs offered a powerful fundraising model for startups.
Despite the fact that most NFT-based startups were not successful, Tanner saw potential in the fundraising model itself and saw that no one was exploiting this potential.
As such, Tenor decided to create its own NFT-based fundraising platform.
Benefits for both startups and investors
Tanner explained that NFTs differ from traditional fundraising methods such as equity crowdfunding or venture capital in several ways.
For investors, NFTs provide greater liquidity, which is a huge advantage compared to traditional startup stocks which can be very liquid.
Furthermore, NFTs can offer investors greater engagement and enjoyment, with associated benefits that can be more exciting than receiving reports only once a year or quarter.
“From a startup perspective, NFTs can offer the advantage of having investors who are also customers, which can help turn early investors into super fans and evangelists who can help with marketing,” he said.
Another advantage is that NFT-based fundraising can go “global from day one,” rather than being limited to local fundraising efforts.
According to Tanner, the NFT space is also less discriminatory than equity fundraising, with female founders statistically more likely to be successful, yet less likely to receive investment from VCs and angels.
Importance of investor education in making smart investment decisions
Turner stressed the importance of investor education in making smart investment decisions. he has been making Youtube video And writing threads for a year and a half with the goal of educating people to be better investors.
According to Turner, “There’s a huge flaw in the education system, when people come out of school they have basically no financial education”.
He believes that people should be taught how to balance a budget and how to invest, as these are “vital skills for building wealth”. Indeed, without proper education people can become victims of scammers.
Turner hopes that either people like her or governments can fill this educational gap.
Extend the benefits of NFTs to a billion people
Tenner sees a bright future for NFT-based fundraising, hoping that as Pledg3r continues to be successful, more people will copy what the company is doing. Provides more options.
Although some see NFTs as a big deal, Tanner thinks that, in reality, it is “still a very small space” so there is plenty of room to grow.
However, he believes that in the future, “people won’t even realize they’re using an NFT” because everything will become an NFT in one way or another and the user interface will be completely seamless.
For Tenor, the ultimate goal is not to get a billion people involved in NFTs, but to bring the benefits of NFTs and Web3 to a billion people.
As the NFT space continues to grow and develop, Tenor’s efforts to educate and expand the market for NFT-based fundraising could play a significant role in shaping its future.
Tanner’s vision for NFT-based fundraising is ambitious but practical, and he is confident that the success of Pledge3r will pave the way for more innovative methods of fundraising via NFTs, ultimately bringing the benefits of this technology to a wider audience.
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