We are back again with the 2nd edition of our bi-weekly newsletter!!! The picture is of me and Bowen squeezing into a 1-person phone booth for a call earlier this week.

what’s going on:

• shipped our private beta on Android and Apple 🎉 (DM us on Twitter for early access)

• started our fundraising push (made a V1 of our investor deck, talked to 10+ angels and VCs, went to 3 networking events)

• conducted 22 user interviews over the last 2 weeks

next steps:

• get product feedback from our first batch of testers

• secure warm intros to web3 Angel Investors

• demo Laser at 3 crypto networking events

what we learned:

• we realized that good early users are people who already own hardware wallets but dislike them (around 25% of people we talked to).

• they care about security enough to own a hardware wallet

• they have enough of a pain with it that they don’t want to use it

  • this is attributed either to both the frequency of use and the intensity of pain inconvenience during each use

asks:

angel investors: we are looking for warm intros to angel investors in the crypto space! We’re looking to close a seed round in early next year and are currently taking small checks from 3rd parties who are interested in investing early.

fundraising: if you have experience reviewing investor decks, we would love a second pair of eyes on our deck so please feel free to reach out

sf advice: Bowen and I are looking to move to SF in the new year and are looking to join as many communities and meet as many people as possible in the web3 industry. Would love any

contact:

If you are interested in connecting, feel free to book a call at calendly.com/laser-wallet/30min or shoot us a line at haohao@laserwallet.io!

Bowen and I are excited for you all to join us in the first legs of our journey in the crypto wallet space. We’ll be releasing bi-weekly updates where we’ll be sharing our progress every 2 weeks and can’t wait for you all to join us on this new chapter.

Background:

• With the FTX collapse, people trust exchanges less.

• The alternative is to hold your crypto yourself (self-custody) but this is a tough ask for most users (80% of crypto users don’t self-custody right now).

• Users still want the convenience of custodial platforms that can hold their funds and keep them safe without needing to think about it.

• There’s a big group of users who just want somewhere safe to put their crypto without any effort.

• This is the gap we are trying to build in, where we are creating a new way for beginners to store crypto alongside existing wallets such as Metamask.

What’s going on:

• In this past week, my co-founder Bowen and I have completed 7 discovery interviews.

• We're in talks with Gnosis Safe about a partnership

• Recently interviewed for YCombinator (rejected sadly 😢)

Next Steps:

• We are looking to launch at the end of the week and we recently made a LinkedIn post, any support would be appreciated!

• Looking forward, we have 6 discovery calls, 4 product demo, and 3 intro calls with VCs lined up for the next week

• Our current plan is to:

  • Launch Laser at the end of the week

  • Partner with people to spread the word

  • Raise funding, move to SF

Asks:

• Customer Interviews: Our team is looking for warm introductions to individuals who have invested in Crypto, actively use wallets such as Metamask or Coinbase Wallet, but don't have a hardware wallet yet

• Founders in Crypto: We are also looking to connect with others who are building in the Crypto and Web3 space. Any introductions would be amazing!

Contact:

• If you are interested in connecting, feel free to reach out to us at haohao@laserwallet.io or bowen@laserwallet.io

Chat soon!

HaoHao and Bowen