Cheryl Griffin, founder of AlphaBetty
Cheryl Griffin is a self-published author of two children’s books and the creator of the first family focused NFT project, AlphaBetty which has turned over £3 million in less than a year.
What were you doing before launching your business?
I am still currently working part time for the NHS and managing the AlphaBetty NFT project work in my spare time. The work has been in progress for several years, but it was only this summer that I released the first AlphaBetty children’s book, which went on to become the first family focused NFT project.
Getting involved in Tech is still a hot topic for women, what was the motivation for you?
Getting such a positive response to the NFT project continues to motivate me. I love what I do. I think a lot of people 'work to live' or are stuck in a job that they don't enjoy, which is a shame.
I wanted to find an outlet for my creativity and do something I love. Being able to publish a book has always been a big dream for me but working on the NFT project brings another level of excitement and motivation because the tech world is continually evolving and there’s always something new to learn.
How have you found your journey so far and what has been your greatest accomplishment?
Well, I’m a mother of two who didn’t think I was good enough to illustrate the children’s books I had written, and yet the NFT project based on a character from my book has turned over £3 million in less than a year! When I say that out loud, I feel incredibly proud.
My greatest accomplishment though would have to be donating £100,000 to children’s educational charities. One of them being my children's old primary school. Being able to do that was amazing.
What has been the most challenging thing so far?
The NFT space is thrilling. But it is like learning a new language so that has certainly been a challenge at times.
It’s also an incredibly fast paced world, with new collections coming out every day so it can be very difficult not to get overwhelmed at times. You will often find that a successful collection will get several copycat collections, or offer of similar benefits, which can often dilute the market.
You have created a business that is adaptable and progressive. What has that process been like for you?
The process has been a huge learning curve for me and I'm still learning as the NFT space continues to evolve. You may not always get things right but that's part of the creative process. You also learn a lot about yourself, and it can be a confidence booster when you see your product doing well.
Who is your target audience?
AlphaBetty is the first family focused NFT project and one of our focuses is to serve as a tool to introduce young people to NFTs, crypto, and investing without some of the jargon and technical barriers that can discourage newcomers who think the learning curve is too great.
Parents and teachers can share the NFT project with young children through the AlphaBetty artwork, whilst also teaching them the basic principles of NFT and blockchain.
The AlphaBetty character was born from the AlphaBetty Doodles book, which is aimed at children aged 3-6 years - pre-schoolers and early learners. However, my ambition is to make the AlphaBetty brand appeal to many ages in the same way that Miffy and Hello Kitty have been able to so I guess the target audience will evolve as the brand does.
What advice would you give to fellow entrepreneurs stuck on mapping out a strong business model?
In the NFT world it can be easy to get distracted by what other projects are doing so try and stay focused on your goals. This space is also incredibly fast moving and at times it may feel that you are not doing things quick enough to remain relevant in the space but go at your pace. For the project to be successful in the long term, you do have to recognise that not everything can be done at such speed. For example, we currently have an AlphaBetty plushie in the pipeline, but obviously this takes time from the designing stage to end production and we must be patient.
What plans do you have for AlphaBetty over the next two years?
To grow the AlphaBetty brand and see it become a long term NFT project where we can continue to add value to our holders.
We already have an AlphaBetty plushie in the pipeline and are hoping to release a companion drop to our holders, which is based on my first children's book 'The Seagull Finds His Talent'.
I would also like to get fully published so AlphaBetty Doodles can reach the mainstream market and have that success she has received in the NFT world. I have plenty of ideas for future books and other merchandise for AlphaBetty so it will be great to see this come into fruition.
Overview of how your business works:
The AlphaBetty NFT project is the first NFT for kids and families on the blockchain. NFTs are "one-of-a-kind" assets in the digital world that can be bought and sold like any other piece of property, but which have no tangible form of their own.
Most of the money we’ve raised so far has gone back into the project or been donated to causes close to our hearts – so I’m by no means a millionaire – and to be clear, that is not the intention. While I’m aware £3 million in turnover is a drop in the ocean compared to many projects out there – the enthusiasm with which people have engaged with our brand might just point to an opportunity. Watch this space!
