Entrepreneur Creates NFT Using Startup Funding Rejection Letters
Entrepreneurial circles are replete with counsel on transforming rejections into opportunities and making the most of them. The Seattle-based businesswoman Rebekah Bastian seems to have taken this counsel seriously.
On October 12, 2022, Bastian published a collection of NFTs consisting only of rejection letters received by startup entrepreneurs.
We’ve all seen those Internet-wide images of successful people’s early rejection letters and communications. This resembles the appearance of Bastian’s collection. The true identities of the entrepreneurs and their enterprises are obscured until the NFTs are purchased, at which point they are disclosed.
These letters were coined with the approval of the business owners who received them, who also determined the asset valuations. Prices vary from.05 to.5 ETH, and all revenues will be distributed to the letter-submitting founders.
— Silicon Valley Story (@theSVstory) October 13, 2022
Bastian adds that this is part of a trend she calls Authentech, in which individuals communicate openly about their lives and their challenges.
“The primary objective of the project is to provide transparency and solidarity regarding the painfully common experience of receiving a rejection letter from an investor you really wanted to work with,” explains Bastian, adding that these NFTs are also an opportunity to own a piece of history, particularly if the company rejected went on to achieve great success.