The Transformation of Liquid Money

Good morning, or GM as we say in the web3 world! 👋

It’s been an exciting past couple of weeks as I’ve created Ed3 as an “official” business. 😎

Builders are needed to craft the future of education and web3, and I’m excited to do my part. You can check out my first version of my website and let me know what else I need here and at the link below.

Along with this work is the mundane but important tasks of things like setting up a bank account, which leads me to today’s digest.

This week I did the impossible - I tried to move money from one bank to another bank.

These banks are literally next to one another on the same block, one with my shiny Ed3 business account and the other with my personal account. Seems easy enough, right? I don’t have checks yet and am in the midst of setting up my direct deposit, but technology can handle this right?

Well, not so much. Two days later and an hour on the phone, and I now have a form to fill out and potential fees to move the money. I came to the same realization as Eric after this experience: crypto is going to make it.

Not surprisingly then, I am thinking about the transformations that happen when money becomes liquid. 

For me, it is annoying, and even slightly comical, that I can’t pay myself. Being able to move money as easily as I can with my digital wallet would make my life easier. But what could it mean for others?

This week, the Moonbirds NFT collection launched and immediately became a success.

What was transformational was how founder Kevin Rose viewed it as a way to raise funds for a business.

It wasn’t a JPEG he was trying to get people to buy. The NFTs were a funding mechanism to support the launch of a media empire. 👀

Even more attractive, this ownership is liquid. The NFTs can be traded along with the benefits to new buyers.

Moonbirds earned over $75 million in 48 hours on their “modern-day Series A,” with 5% of all sales moving forward to continue funding the company.

Most founders and products need just a fraction of that war chest to launch. With the added benefits of building a community of marketers, supporters, and customers, NFTs provide a quick, frictionless way for businesses to fund their launch.

There are many issues that need to be hashed out with securities regulations, but seasoned entrepreneurs like Kevin Rose are hitting those issues head on, blazing a trail for others.

The opportunities from liquid capital are more world-changing when considered in new contexts. When money is liquid for the unbanked, those in need, and migrants, opportunities follow.

This week, Vriti and I looked at The Transformation of Charity through Web3. In short, how philanthropy can improve when assets become liquid.

In the article, we explored how Web3 enables coordination, cash transfer, and congruence. These three C’s are the foundations to the future of charitable giving, unlocking new strategies such as NFT giving, gamified giving, staked yield giving, and more.

Just click below and tell me what you think.

Have a great weekend! 🎉

-Scott