Introducing the Startup Rookie Card (SRC) NFT

Building a startup is hard

This is not a groundbreaking insight but merely a fact that everyone knows to be true.

The challenge, especially for first time founders is that you typically never have enough capital, customers, connections, and people in the early days.

The current models for funding startups rely on either:

1. Using your own savings;
2. Raising money from friends & family;
3. Getting a loan or using sub-optimal resources such as:
   1. credit card debt
   2. A second mortgage
   3. your 401(k) or IRA;
4. Convincing investors and those with lots of capital to give you money;
5. Crowdfunding;
6. Pre-selling your products or services.

There are plenty of founders who have built successful businesses using each of these methods. But there are 10X more who have failed. Many simply had to quit early because they ran out of runway.

I believe that the advent of NFTs (non-fungible tokens) brings with it another option to jump-start your company. This option can provide significantly more value to the business, and distributes value more equitably amongst all stakeholders than traditional financing.

To see why, let’s look at a couple of the primary financing options startups have today.

Crowdfunding

You may be thinking there already exists a great way for startups to raise money from friends, family, customers, and their community through crowdfunding. While there are different flavors of crowdfunding that can be really powerful they all share one thing in common - they’re expensive!