The first 500 vaults will be available for purchase and immediate shipping starting Cyber on November 28 (Monday), which is available on its official website.
Graceful 1.0 is a custodial digital vault that can be purchased and set up by the gifter in minutes. Each vault comes pre-loaded with Bitcoin to kickstart the recipient into the future of money. The company is creating the iconic financial gift for a new generation, supplanting traditional monetary presents like savings bonds, gift cards, and cash.
The gifter can then choose 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.
The recipient receives a metal cube with artwork etched on each side to represent the three themes of wealth, legacy, and time.
When the recipient scans the QR code 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, each side has a 3D projection that explains the key uses of the vault: assets held, messages, and time locks for when the assets can be used. With more people owning cryptocurrency assets, there is a need for a means to pass that wealth on without complex barriers, said Graceful CEO and co-founder Greg Rogers.
“Graceful is looking to meet that need by simplifying the process so anyone can give and receive crypto while providing a memorable and engaging experience,” he added.
Buyers and gift recipients must be 18 or older, with an email address for onboarding. Graceful is backed by top-tier venture capital funds, including Metaversal, Next View, The Fund, and Firebrand Ventures.