In this video, we will summarize a special greeting from Morgan Beller during the Kuneco event in April 2021. Morgan Beller is a co-creator of Libra and DM, and she is currently an investor and general partner at NFX, an early-stage venture fund. The conversation covers various topics related to crypto, network effects, mainstream adoption, and the qualities of successful founders. Let’s dive into the key points discussed.
Morgan Beller introduces herself and explains her transition from an operating role to an investor at NFX. She expresses her admiration for the progress made by the Celo ecosystem and congratulates the community on its growth. She mentions that her role at NFX aligns with her previous work in leading ecosystem efforts and bridging the gap with the crypto community.
Morgan Beller discusses the significance of network effects in the crypto industry and how they contribute to the success of projects like Celo. She emphasizes the power of aligning incentives in crypto networks, which can directly incentivize behaviors needed for ecosystem growth. She highlights the broad range of participants, including entrepreneurs, organizations like Deutsche Telekom, employees, exchanges, and others, who are all incentivized to contribute to the success of the network.
Morgan Beller shares her perspective on crypto going mainstream. She acknowledges that crypto has been gaining mainstream attention and institutional adoption, citing examples such as Deutsche Telekom and PayPal’s support for cryptocurrencies. She believes that the chasm has been crossed in terms of both consumer awareness and institutional adoption, indicating a significant shift in the industry.
Morgan Beller emphasizes the importance of applying crypto to real problems faced by people who need it, rather than just those who want it. She mentions that historically, many crypto products focused on crypto enthusiasts, but now she sees a shift towards solving problems for a wider audience. She commends the Celo community for creating a global network of founders who understand unique problems in their respective regions.
Morgan Beller shares the qualities that NFX looks for in founders. She mentions the importance of smart people solving real problems and the significance of working with people you want to spend time with. She believes that the current wave of adoption is attracting founders from various disciplines who may not have considered crypto before but are curious and interested in exploring its potential. NFX and Galaxy Digital are launching a joint venture to support these founders in the earliest stages.
The discussion shifts to the theme of innovating money and its potential impact on the health of the planet and communities. Morgan Beller acknowledges the importance of a global perspective in designing financial infrastructure and mentions the five features of money, including universal basic income, damage, natural capital-backed currencies, ecology of money, and earning money into existence. She expresses excitement about teams working on these ideas and their potential to create a regenerative economy.
Morgan Beller reveals an exciting announcement regarding a joint venture between NFX and Galaxy Digital. The venture aims to support founders, whether they have crypto experience or not, who are interested in exploring crypto and solving new problems. This initiative was inspired by the Celo camp and the community’s efforts to bring more smart people into the space.
In conclusion, Morgan Beller’s special greeting during the Kuneco event touched upon various aspects of the crypto industry, including network effects, mainstream adoption, real-world problem-solving, qualities of successful founders, and the potential for crypto to drive a regenerative economy. The announcement of the NFX and Galaxy Digital joint venture showcased their commitment to supporting entrepreneurs in the crypto space.