money moves

Developing West Houston district introduces NFT investment opportunity

The Founders District in West Houston has an NFT investment opportunity. Rendering via foundersdistrict.com

Developers are turning to blockchain technology to help finance a new indoor-outdoor bar at Houston’s Founders District innovation campus.

Under the umbrella of the Powder Keg Collective, the Powder Keg bar is selling non-fungible tokens (NFTs) to finance construction and operation of its 14,000-square-foot expansion. NFTs, similar to cryptocurrencies, are stored on a blockchain and represent ownership of a unique asset.

The new venue will be at 1300 Brittmoore Rd., near the existing Powder Keg bar and The Cannon West Houston entrepreneurial hub. Aside from catering to everyday patrons, the venue will host community events, festivals, private events, and concerts.

Buyers of the Powder Keg NFTs will be entitled to gain proceeds from the development, and will receive beer discounts, access to VIP events, and other privileges.

“These utility NFTs provide owners with tangible financial value and membership in a real estate club, not empty hype,” Mark Toon, co-owner of the Powder Keg, The Cannon and the Founders District, says in a news release.

“The Powder Keg Collective is another way we’re building community around technology, demystifying it, and bringing together Houstonians — whether they’re investors, NFT collectors, crypto-enthusiasts, or people who just want a stake in their neighborhood bar.”

On the Ethereum blockchain platform, the collective will sell 2,361 tokens ranging in price from $250 to $500,000 each. Tokens can be purchased with cryptocurrencies or U.S. dollars. The venue itself will accept the same two payment methods.

The Powder Keg is planning an expansion. Photo courtesy

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Building Houston

 
 

Small business owners now have a new option for their credit and financial support needs, thanks to Hello Alice and Mastercard. Image via Getty Images

When you're a small business owner, every service you sign up for or institution you open an account at should be a helpful partner on your business journey. At least, that's how Hello Alice sees it.

The Houston company has partnered up with Mastercard and First National Bank of Omaha to provide small business owners a suite of financial services with their line of credit. The Hello Alice Small Business Mastercard will offer users expert business advice, business insights, cashback, and a rewards program that gives entrepreneurs points for completing business-advancing activities on the Hello Alice platform.

“We designed the Hello Alice Small Business Mastercard to meet the needs of small business owners where they are, breaking longstanding barriers to mentorship, access to credit, and overall financial health for those who have traditionally been denied access,” says Elizabeth Gore and Carolyn Rodz, co-founders of Hello Alice, in a statement.

“In times of economic boom and bust, access to capital remains the leading challenge for all small business owners, and particularly for New Majority owners, which is why we continue to focus our efforts on expanding the capital continuum beyond our existing grants and loans programs,” the duo continued.

Offered as a traditional credit card, the Hello Alice Small Business Mastercard provides users with credit-building opportunities. Business owners with a limited or poor credit history also have the opportunity to a secured version of the credit card that still provides full benefits from the program.

“Small businesses are the backbone of our communities, yet too often face significant obstacles in securing the resources they deserve, particularly if the owners come from underserved communities,” says Linda Kirkpatrick, president for North America at Mastercard, in the release. “The launch of the Hello Alice Small Business Mastercard is an important step in our mission to build a more inclusive digital economy by providing small businesses with the financial tools and capital they need to thrive, while also advancing our half-billion-dollar commitment to help close the racial wealth and opportunity gap for Black communities.”

This initiative is the latest announcement from Hello Alice’s Equitable Access to Capital program, which is focused on increasing access to the capital — as well as financial products, tools, and education — small businesses need to grow sustainably and power the national economy. By 2025, according to Hello Alice, approximately $70 million in grants could fund credit enhancements for approximately 30,000 business owners, unlocking up to $1 billion in credit access.

“FNBO has been committed to helping small businesses succeed for 165 years, and we are proud to partner with Hello Alice and Mastercard in this vital initiative to elevate all small businesses,” says Jerry J. O’Flanagan, executive vice president of Partner Customer Segment at First National Bank of Omaha.


The new credit card will provide credit and financial advice, support, and education to small business owners. Image via helloalice.com

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