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Thesis and Mission
The invention of the Internet was one of the biggest disruptive events of the past decades. Today with blockchain and web3, we’re seeing a new development that is likely to become as groundbreaking as the development of the Web. Just as the internet revolutionized the way we transfer information, Blockchain technology is revolutionising the way we own, interact with and transact value digitally. Yet, contrary to the core idea of this open and inclusive financial system, the world of DeFi today is not accessible to everyday investors due to its highly technical nature and complex interfaces. Crypto wallets today are clunky and mostly built by crypto natives for crypto natives. Our mission is to build a simple and intuitive access layer in order to democratize access to the decentralized economy for people around the world, irrespective of their technical knowledge, wealth and abilities.
The Financialization of the Internet
We are living in exciting times. The pace of innovation that we are witnessing in crypto is astonishing. Over the next decade, decentralized blockchain protocols are set to encroach on and take over incumbents in the world’s largest digital industries such as financial services, gaming, media, identity, payments, and others. Some of the first DeFi applications that gained significant traction were protocol-based “banks” such as Compound / Aave and yield aggregators such as Yearn Finance. By now those DeFi protocols such as the aforementioned are holding nearly $200B in capital and generate interest that beat high-street banks by a factor of 50–100x. This marks the rise of consumer-to-consumer financial services without centralized intermediaries. Another great example are dYdX and Uniswap, both decentralized crypto exchanges, which frequently generate daily volumes higher than Coinbase with staff of less than 50 people each.
We are witnessing the development of a parallel, more efficient global Wall Street, which runs on decentralized software protocols governed by DAOs and built by distributed teams across the world.
But the financialization of the digital realm has barely just begun and many more sectors are set to be disrupted in the coming decade as the revolution takes hold. A case in point is in gaming, exemplified by the meteoric rise of casual game Axie Infinity, which opened a completely new industry of decentralized “play to earn gaming”. Players are now able to make a living by breeding, battling, and selling in-game NFT creatures. The barely three-year-old company is currently on a $1B revenue run rate for 2021 despite 95% of economic value generated accruing on the user layer (compare that to 0% for traditional casual mobile games).
The NFT summer of 2021 has marked the rise of an entire new industry of digital creator and player powered value capture. Even if the NFT market is still in its nascent stages and the way value gets generated in a stable way will likely change over time, it is undeniable that a secure and distributed format of asset ownership is here to stay. Major brands are now starting to discover NFTs as a fan engagement platform with companies such as Sorare (soccer trading cards) and NBA Top Shot forging major alliances with the world’s leading sports entertainment franchises. A full-fledged digital metaverse is forming and the tokenization of off-chain assets has not even started. The next few years will see a pace of crypto-powered innovation that we are not even able to fathom yet.
DeFi Wallets are the Next Financial and Entertainment Super Apps
Wallets in the context of decentralized finance are more than mere vessels to hold financial assets, they are the access layer to an entire new digital economy consisting of banking services, trading brokerages, payment wallets, collectibles, gaming, social networking and other decentralized products such as identity / log-in layers. The super apps of tomorrow will be DeFi wallets that act as the gateway to the Web3 equivalents of Web2 incumbents such as Google, Amazon, Facebook and Paypal, as well as the entire decentralized banking & financial services layer.
The problem today however, is that existing wallets are not built for everyday users, but for crypto natives. They require a deep knowledge of crypto concepts such as transaction signing, on-ramps, gas fees, cross chain ecosystems and other even more complex topics.
Our mission is to change that and allow everyday investors to participate in this “internet of value”, which Web3 is often referred to. Cracking this mass-consumer access layer is the next $1T opportunity. A modern and slick DeFi wallet will serve multiple functions and help users discover new assets to trade, savings opportunities to invest in, games to play and NFTs to collect. It will allow users to instantly execute transactions in the most efficient and cheapest way possible: peer to peer, routed by software protocols without centralized intermediaries.
DeFi for the Masses
With Unstoppable Finance we are building a consumer-grade non-custodial DeFi wallet & protocol that is as easy to use as Robinhood & Trade Republic, but truly global and decentralized in nature. We aim to become THE entry point for consumers to access the decentralized economy and a one-stop-shop for trading, high-yield savings, gaming, NFTs, identity and other Web3 services, all bundled in an intuitive native mobile product. Our long-term vision is to build an ecosystem of products that have the potential to allow DeFi to scale to a billion users around the world and to facilitate the formation of a better, fairer and more transparent way to exchange value globally.
We are deep believers that decentralized architecture powers the next iteration of the internet and that cracking the mass market for this technology is one of the biggest venture opportunities of the next decade. That’s why we are unstoppable.
A big thank you to our seed round investors Speedinvest, Inflection, Backed, Cadenza, Fabric Ventures, Discovery Ventures, Rockaway Blockchain Fund and our fantastic lineup of business angels from Ethereum, Polkadot, Fractal, Centrifuge, BitCapital and Finleap/Solaris among others.