David - Cryptocurrency Specialist
Non-fungible tokens (NFTs) can transform the world of startup funding. Daniel Tenner shared his insights on how NFTs offer a unique fundraising model for businesses and how this innovative technology can benefit both startups and investors.
As the founder of GrantTree, a company that helps tech startups obtain government funding, Tenner has been deeply involved in the startup ecosystem for over a decade.
Tenner decided to build his own NFT-based fundraising platform, recognising the potential of the fundraising model itself and the untapped possibilities in this space.
Tenner emphasised that non-fungible tokens (NFTs) present a unique fundraising model that stands apart from traditional fundraising methods such as equity crowdfunding or venture capital. Unlike traditional startup shares that can be illiquid, NFTs offer investors greater liquidity, which is a significant advantage. Additionally, NFTs can provide investors with more engagement and excitement, thanks to the benefits attached to them, making them a more thrilling investment opportunity than just receiving a report once or twice a year.
From a startup perspective, the use of NFTs can bring several advantages. By having investors who are also customers, startups can establish a dedicated group of supporters who can serve as evangelists and contribute to marketing efforts. Moreover, NFT-based fundraising can expand the reach of fundraising efforts globally, allowing startups to access a broader range of potential investors than local fundraising initiatives. In addition, the NFT market appears to be less discriminatory than equity fundraising, with female founders being more likely to succeed in raising funds, a positive development for creating more diverse and inclusive startups.
Tenner highlights the importance of investor education in making informed investment decisions. He has been actively creating content for over a year, such as YouTube videos and threads, aimed at educating people on becoming better investors. Tenner believes that financial education is a critical skill necessary for building wealth, and there is a major flaw in the education system in this regard. By learning how to balance a budget and invest, people can make informed decisions and avoid falling prey to scammers, which is an increasingly significant concern in the digital world.
Pledg3r's success has convinced Tenner that the future of NFT-based fundraising is bright. He envisions that more people will adopt the company's approach, which will lead to the creation of many more fundraising options through NFTs. Although some individuals may view the NFT space as already saturated, Tenner believes that there is still plenty of room to grow, and more people need to be educated on the possibilities that NFT-based fundraising can offer. Ultimately, Tenner hopes that one day, NFT-based fundraising can be accessible to a billion people, bringing the benefits of this innovative fundraising approach to a much wider audience.
Tenner's efforts to educate and expand the market for NFT-based fundraising could play a pivotal role in shaping the future of NFT crypto. As more people adopt this innovative technology, it could become a seamless part of our daily lives, offering benefits that extend far beyond the world of startups.
As the market for NFTs continues to grow, it will be exciting to see how entrepreneurs and investors alike can take advantage of this new fundraising model, and how NFT coins will shape the future of finance and technology.