One of the co-founders of the Libra project, Morgan Beller, has resigned from Novi, the company that is working on the corresponding portfolio, to become a partner of NFX.
Beller is 27 years old and was Head of Strategy at Novi. NFX is an investment-focused venture capital firm.
Morgan beller told CNBC:
"When I knew there was an opportunity to go to NFX and work with these people, that was an opportunity that I really couldn't pass up."
The Libra project, of which Novi is the main developer, is progressing very slowly, so much so that it is not yet known if and when it will hit the market.
Meanwhile, Facebook, which launched the Libra stablecoin project, has created Facebook Pay, a solution that allows users to exchange fiat money and make purchases directly from all the company's applications, including Instagram and WhatsApp.
As a result, the Libra project seems to have been sidelined, despite the fact that the stablecoin could be integrated into Facebook Pay in the future as an alternative currency to fiat.
From Libra to NFX, the Morgan Beller path
Beller joined Facebook's business development team in 2017, focusing on what they could do with blockchain technology in the future.
In 2019, she became one of the founders of the Libra project along with David Marcus, former president of PayPal and vice president of Facebook.
According to some members of the blockchain community, Beller was the real driving force behind Facebook's decision to embark on the Libra project, and for this reason, his departure from the company may seem like a setback for the project itself.
However, Beller also testified.
“I love Libra, I am a Libra fan. I'm not leaving. I will continue to be a friend, I will follow very closely and participate to some extent. It was just that when the folks at NFX knocked on the door, this was obvious.
Crazy, weird and creative people who are opposites and see the world as broken or see the world differently from other people, those are the people I want to talk to. "
According to James Currier, general partner at NFX, Beller is the type of person who joins a business once every 10 to 15 years, and perhaps that is why he has decided to venture into this new adventure.