A Melbourne-based company called Liquid, a team of five Australian entrepreneurs was tasked to develop an idea for an innovative product in an event in July of 2013. Eight months later, a creation called Liquid Wallet is now set for release after hitting the target pledge fund on Kickstarter, a popular online funding website.
The Liquid Wallet is made of a hard anodized aluminum and measures just 94 x 59.5 x 14 millimeters featuring four adjustable screws that allow the user to attach keys to the body of the wallet itself. It functions as a minimalist wallet with the easy-use band for keeping cards, cash and other day-to-day essentials.
After becoming available for backing on Kickstarter on February 17, 2014, the Liquid Wallet project has already garnered a pledge fund of AUD $12,230, way above the target of AUD $8,000 and is on its way to mass production by end June or July.
“The amazing support, loyal fan base and how quickly we were successfully funded confirmed to us that we have something that would be a successful venture and the Liquid Wallet is only the first of many more products to come,” said Peter Mai, business strategies and marketing director of the upstart Australian company.
As with any new product, criticisms were abound on their product but the company took it in stride and would rather look at things as half-full rather than half-empty.
“There are negative reactions on Facebook, but in the short amount of time since our campaign has been live, we've garnered a very loyal and supportive fan-base,” shared Mai.
“We expected to see some negative feedback as this wallet wasn't designed for everyone - there are too many variables involved and it is simply impossible to please everybody since with wallets, everybody has their own personal preference.”
Meanwhile, mass production and shipment to the pre-orders will start in the next two to three months. And even then, Mai and the rest of the team from Liquid are already looking forward to their next product.
“Right after we've delivered the Liquid Wallet and confirmed that our customers are happy and satisfied we'll begin prototyping our next product which is the Liquid Key Caddy.”
The process at Kickstarter is fairly simple; an individual or company posts an innovative idea for a product or project and the users decide if they want to support such by pledging real money. Over $1 billion have been pledged to the site to support various projects since it launched in April of 2009.
For the Australians at Liquid, their first Kickstarter project is a roaring success and they are hoping to build on it and share more innovations from Down Under.