~20% of Bitcoin has already been lost, never to be recovered again (over $200 billion worth). This problem will only get worse as crypto holders die without ensuring their loved ones can access their digital assets. Jeff Kelley and Josh Kriger, co-founders of Territory Foods and co-hosts of the Edge of NFT podcast share ideas on digital estate planning.
Show Notes
Nuggets:
- Aside from the hype, there are many smart people excited about the practical potential of blockchain and NFTs
- Steveblank.com offers an incredible resource for entrepreneurs
- There are multi-billion dollar opportunities for companies that help crypto “cross the chasm,” making it more accessible to mainstream audiences
Action Steps:
- Get your own crypto security and succession plan in order
- Stay up to date on the latest developments in estate planning and password management as it applies to crypto assets
- Use a site like aytm.com to “Ask Your Target Market” about what type of product will serve them best.
- Consider a relatively lightweight solution to digital estate planning (e.g. set up smart contracts that automatically distribute assets to your family if you don’t log in every six months)
- There could be various niches within this broader category to build businesses in.
Links:
Jeff Kelley is a serial entrepreneur, investor, creator, and graduate of West point with a Yale MBA. Josh Kriger is a serial entrepreneur from Boston now staying warm in SoCal who has launched and consulted with businesses across a variety of industries.
Jeff and Josh co-founded Territory Foods, a national ready-to-eat prepared meal delivery company utilizing a unique network of distributed chefs. They also founded Canopy, a sustainability-focused apparel company that connects fans with what they love through collectible interchangeable patches.
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