- Palmer Luckey is launching a new digital bank with support from Peter Thiel. Erebor’s name Lord of the Rings. This is the latest of two businesses that pay tribute to fantasy books.
Peter Till Signed already Palmer Luckey’s The latest startup is a digital bank called Erebor and cryptocurrency company.
Thiel’s founder fund reportedly Invest in a bank In a continuous round. 8VC, a venture fund from Palatir co-founder Joe Lonsdale, is also supporting the bank.
Like Palantir, Erebor’s name comes from Lord of the Rings series, especially prequels. Also known as the lonely mountain, this is Hobbit. Although described in that book as the greatest kingdom of the Middle World, it also has a dark history.
We’ll give you the full history of Erebor, but if you’ve read this book or watched the movie, you might remember that treasure-loving dragon Smaug called it home and destroyed the nearby settlement, set it up, burned it and killed…well, a lot of people. When he was killed by arrows through arrows in armor-like scales to a weakness, he landed on the town and crushed it.
His death also triggered a struggle to create the treasures of the Battle of the Five Armies. Basically, many bad things happened there before the previous glory was restored.
Lord of the Rings Both Luckey and Thiel like it. Luki’s sensor Defense Technology Corporation is named after the sword used by Aragon. Thiel’s Palantir is a huge software company. Thiel’s Mithril Capital was founded in 2012 and its name comes from the precious metal mentioned in the book.
As for the bank’s Erebor, its charter says it plans to serve technology businesses and people who work or invest in their work. Areas of interest include AI, encryption, and defense. The bank will hold Stablecoins on its balance sheet and will be headquartered in Columbus, Ohio, although no physical locations are planned yet.
