Adam Neumann’s Startup, Flow, May Involve Crypto

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Former WeWork CEO Adam Neumanns new residential real estate startup will reportedly include a digital wallet enabling the use of cryptocurrencies.

The startup Neumann helped found, which is called Flow, may include a digital wallet that would handle not only crypto but also other financial services, such as connecting to a bank account, according to a Thursday (Sept. 8) report by Bloomberg that cited unnamed sources.

One possible use for crypto by Flow could be a rewards program that uses blockchain, according to the report, again citing unnamed sources.

Neumanns interest in crypto which is demonstrated by the use of blockchain to track carbon credits by another startup he helped found, Flowcarbon could be a plus for the hard-hit crypto industry, according to the report.

Read more: Today in Crypto: Andreessen Horowitz Debuts $4.5B Crypto Fund; WeWorks Neumann Starts Crypto Credit Climate Firm Flowcarbon

If he can build something as big as WeWork again, I think that will be really positive for our industry if there is an element of Web3, Framework Ventures Co-Founder Michael Anderson said, per the report.

Venture capital firm Andreessen Horowitz invested $350 million in Flow in August, according to the report.

Andreessen Horowitz Co-Founder Marc Andreessen wrote on the companys website that Flows model of combining community, experience, service and technology and [creating] a system where renters receive the benefits of owners is valuable during the nations current housing crisis, noting that theres currently a shortage of homes, high rents on apartments and other trends driving demand for a new model of housing.

We think it is natural that for his first venture since WeWork, Adam returns to the theme of connecting people through transforming their physical spaces and building communities where people spend the most time: their homes, Andreessen wrote. Residential real estate the worlds largest asset class is ready for exactly this change.

NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS WITH STRONG DEMAND FOR SUPER APPS About: The findings in PYMNTS new study, The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy, a collaboration with PayPal, analyzed the responses from 9,904 consumers in Australia, Germany, the UK and the US and showed strong demand for a single multifunctional super apps rather than using dozens of individuals ones.

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