Within entrepreneurship circles, there is constant advice about turning your rejections into opportunities and making the best of them. Well, it seems one Seattle-based entrepreneur Rebekah Bastian took this advice quite literally.
On October 12, 2022, Bastian released an NFT collection that is made up entirely of rejection letters received by startup founders.
The Benefits of Rejection
We’ve all seen those viral photos of successful people’s initial rejection letters and messages floating around the internet. This is similar to what Bastian’s collection looks like. The actual names of the entrepreneurs and their businesses are blurred out but are revealed when the NFTs are bought.
These letters were minted with the permission of the entrepreneurs who received them and they also got to set the prices for the assets. Prices range from .05 to.5 ETH and all the proceeds will be given to the founders who submitted their letters.
As Bastian explains, this is part of a movement she calls Authentech where people speak candidly about their lives and the struggles they have faced.
“The primary goal of the project is to provide transparency and solidarity about the painfully-common experience of receiving a rejection letter from an investor you really wanted to work with,” says Bastian, adding that these NFTs are also a chance to own a part of history, especially if the company rejected went on to become very successful.