Loot is a banking app designed to help the millennial generation with tracking how much they spend and how to better budget their money; the company does not have a banking license due to the associated regulatory burdens and costs, though they do partner with the German payments company Wirecard; they now offer paycheck deposits with two free ATM withdrawals a month and will soon have the ability to do international money transfers with low fees. Source
Loot was a startup that offered a current account for millennials; last month it went into administration after they ran...
exchanges / cap mktsidentity and privacymarketingMetaverse / xRNFTs and digital objectsSocial / Communityvisual art
·The structure of capital markets precedes the innovations that come from it. High frequency trading, passive ETF investing, SPACs, and crypto assets all telegraphed their value proposition before becoming large and meaningful in scale. We are now seeing a new market shape emerge, one that starts with community and builds up into financial instruments that are cultural and social. This analysis looks at the most recent developments in the overlap between decentralized social and cultural work and related financial features.
Loot has launched version two of its app which provides for cash deposits and personal finance management; in its newest launch the app has accepted 25,000 new customers; the app helps customers track their spending and provides discounts from affiliated merchants; the version two launch of the app follows a $3.13 million funding round in November. Source
exchanges / cap mktsgaming & sportsgovernanceidentity and privacyMetaverse / xRNFTs and digital objectsregulation & complianceSocial / Community
·We discuss the top-down and bottoms-up approaches to innovation and project building. For the former, we reference Australia’s draconian surveillance laws, and the integration of US driver’s licenses into Apple’s wallet. For the latter, we dive into the Ethereum-based Loot project and its incredible derivatives, $500MM token, and $200MM of volume. Last, we conclude by highlighting the role of creators on the coming wave of Fintech.