Graceful, reimagining financial giving for the crypto age, announced it has launched Graceful 1.0 as the definitive and intelligent way to pass on wealth, memories, and messages to loved ones, gifted for every moment in life, including Holidays, birthdays, weddings, and graduations.
Graceful is creating the iconic financial gift for a new generation, supplanting traditional monetary presents like savings bonds. Graceful 1.0 is a custodial digital vault that can be purchased and set up by the gifter in minutes. Each new vault includes $200 of bitcoin (BTC) to kickstart the recipient’s wealth and education in the crypto economy. The gifter then chooses from three programmable time locks on the vault: one, five, or ten years. Similar to a revocable trust, the gifter can also unlock the vault in an emergency or as otherwise needed. Like a time capsule, each vault can hold personalized messages from the gifter, some that can be viewed immediately and others that can only be viewed when the vault unlocks. On the roadmap is additional asset support, both crypto and traditional, and more powerful messaging features.
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The recipient receives a stunning and elegant metal cube with artwork etched on each side to represent the three themes of Wealth, Legacy, and Time. On the sixth side, there is a QR code. When the recipient scans it with the Graceful App, an avatar named Grace holographically projects from the cube (in augmented reality), and says the cube is the interface to a digital vault that has been given to them. As the recipient turns the cube, looking at it through their phone’s camera, each side projects a 3D image that explains the key uses of the vault: assets held, messages left by the gifter, and time locks for when the assets can be used.
“Every year for twenty years, my grandfather would give me a US Savings Bond for my birthday. It was one of his legacies to me. And he was not alone – for 70 years the savings bond dominated the financial gifting market in the US peaking at $22B in 2005. It was iconic,” said Graceful CEO and co-founder Greg Rogers. “But it didn’t keep up with the times and is now a fraction of what it used to be. Which leaves us with the question: What’s going to take its place?”
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With more people than ever owning cryptocurrency assets (now at 22% of the adult US population), there is a need for a means to pass that wealth on without complex barriers. Graceful is looking to meet that need by simplifying the process so anyone can gift and receive crypto, while also providing a truly memorable and engaging experience.
The first 500 Graceful vaults will be released at the introductory rate of $299 USD each including the BTC kickstart, with the ability to add more cryptocurrencies as a fast follow. Each new vault also comes with a “first edition” cube anodized in sapphire blue which acts as the interface to the vault. If ever the Graceful cube is lost or stolen, the assets remain safe with Graceful’s custodial partner and can only ever be accessed with a secure link. Buyers and gift recipients must be 18 or older, with an email address for onboarding.
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