A HOBBY project by two Perth men to create a cryptocurrency platform has skyrocketed into a potential money spinner.
Prem Aghera from Darch and Liam Peeters from Karrinyup have launched MoonPaw, a cryptocurrency platform that also raised donations for animal welfare organizations.
It started as a hobby project, but within a week of launching in May, it had amassed nearly $ 30,000 in donations from a 2 percent tax on transactions when their token traded.
Mr Aghera said the first charities to receive donations were based in the US because they had not yet found local charities that accepted cryptocurrency.
“We want to support local charities – out of the 10 we called, they don’t accept cryptocurrency donations, which is really unfortunate,” he said.
“We still have over $ 20,000 (AU $ 25,000) to donate to local animal welfare and welfare charities in Washington.
“The catch is that they have to accept cryptocurrency. If you don’t know how, we’ll help you set it up.
“Cryptocurrency donations are much easier for everyone involved and the charity can easily convert the donation into AUD.
“These actions can be organized through The Giving Block.”
Mr. Aghera said MoonPaw was designed to “bridge the gap between content, community and crypto”.
He said the platform had “a twist to make it as accessible as possible to all ages to interact with.”
“Cryptocurrency is the talk of the city right now,” he said.
“We’re currently working on products like comics, games, and NFTs (non-fungible tokens) that will educate the public about cryptocurrencies in a fun, easy-to-understand way.
“Our goal with this project is to bring the use of cryptocurrency into the mainstream.
“We see a future in which all of our entertainment products can be seamlessly integrated into the MoonPaw token.”
Mr Aghera said they were working on animation products that would be available to both the general public and those looking to invest in cryptocurrency.
He said investor wealth increased when other investors chose the platform, with 2 percent of those transactions going to existing investors.