Chris Chris 01.08.2022

With Backed, Almost Anyone can Speculate on the Future of Almost any Private Company or Startup From as Little as $50 — Interview with Lee, Founder at Backed

How's everybody doing? This time around we are talking to Lee Betts — Founder at Backed.

Chris: Backed Finance sets out to bring something new into the game of crypto investment. What exactly is your unique advantage?

Lee: We're changing the way retail investors invest in private companies. Through Backed, almost anyone can speculate on the future of their favourite private companies by buying and selling their company coin. Until now, there was no way for your average investor to speculate on companies such as SpaceX, Reddit, MetaMask and Telegram. Now there is.

Chris: I believe that you have an interesting model to work with partners. Tell us who could partner up with you and what benefits will they enjoy?

Lee: Almost any private company can create a free profile on Backed in minutes, and generate their own company coin which their users can buy and sell. Companies get a 10% gratuity fee on each trade, which allows them to raise funds without giving up equity.

Chris: BKD is valuable because it becomes scarce at some point? Can you elaborate on that?

Lee: To buy company coins, you first need to buy BKD, then swap it for company coins. There will only ever be a maximum of 6 million BKD tokens available. As more people buy company coins, and more companies join Backed, demand for BKD will expand exponentially. This will drive the price up exponentially.

Chris: You say that you hate when "VCs and Angel Investors get exclusive access to the best investment opportunities" — how do you empower others?

Lee: With Backed, almost anyone can speculate on the future of almost any private company or startup from as little as $50. Think Telegram will be as big as Whatsapp one day and want to make that bet? Backed allows you to do that.

Chris: How does the exchange ensure the security of the platform? Please share some information on the security aspects undertaken by Backed Finance to provide safety for its investors.

Lee: Our platform connects with your MetaMask wallet. Your BKD is held by you in your MetaMask wallet, and we don't require you to share your private keys.

Chris: At last, do share some of the important milestones you set ahead of you?

Lee: Our first goal is to sell 5m tokens during the initial token sale. If we achieve that, the price will 512x. At that stage, we'll list on pancake swap and/or an exchange to allow users to take profits.