From Zero to Foundr Podcast: 050: Saving the Planet While Studying for Exams with Mona Fang of Karma Trade

050: Saving the Planet While Studying for Exams with Mona Fang of Karma Trade

Feb 25, 2022

Mona Fang started selling clothes online for side income and quickly realized the detrimental environmental impacts of the fashion industry. So at age 17, she decided to create a solution to the consumption problem in "fast-fashion." While a freshman at university, she started Karma Trade, a circular fashion trading platform using digital currency.

Karma Trade uses a digital currency called "KARMA" to buy and sell secondhand clothing. Customers earn KARMA by donating clothes to the circular economy and can spend KARMA to get new clothes while only paying a small $USD swap fee. So far, Karma Trade has helped recirculate 20,000 items of clothing and reissue 200,000 Karma pieces.

Listen to Mollie and Mona discuss:

Building a supply chain, marketplace, and technology system from scratch
Why Mona says studying aerospace engineering is a hobby
Hosting events at her university to test the marketplace system
Opening their thrift store called "The Karma Outpost"
Expanding to other thrift stores to become "Outposts"
How the 7 Figure Copywriting course gave her confidence to explain Karma Trade
The reasoning for using a digital currency over standard currency
Accessing talent from her university
And much more startup and system advice...

Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.

Wait, there's more… If you enjoy the Zero to Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.

For more Foundr content, follow us on your favorite platform: