From Alexcoin to Breakout: A Founder’s Leap into Berkeley’s Creative Culture

BERKELEY Calif. — Traveling from France to the United States was a risk that Alex Masmej, founder of the Breakout App, was willing to take. At 22, Masmej began betting on himself — a mindset that later shaped Breakout, a cryptocurrency-based platform designed to fund people with initiative and entrepreneurial flair.

Masmej started this initiative as a continuation of other successful projects in his past, such as “Alexcoin,” a cryptocurrency he created that allowed his audience and backers to vote on his life decisions.

“I did a lot of things for the Alexcoin backers,” he said.

It started as a spur-of-the-moment idea when he was 22, living in his parents’ house.

“I had about $8,000 in the bank, but COVID crashed the markets and it went down to $2,000,” Masmej continued. “The gig I had got canceled.”

Masmej struggled to find a job and create a company in France, where opportunities to move vertically were dwindling during COVID.

“I was at my last conference before COVID shut everything down,” he said. “I did a presentation and thought, ‘It’s time to do something creative to get some money.’”

But Masmej didn’t choose complacency or stagnation in the face of the adverse pandemic. Instead, he became a startup founder at the age of 22.

“I did the Alexcoin, got $20,000, went viral, and moved to the U.S.”

Why San Francisco?

After raising the money to kick-start his career, Masmej set his sights on a new beginning.

He knew he wanted to make the move to the United States, a place that provides opportunity for young founders like Masmej, but he had to narrow his scope.

“I really wanted to go to Silicon Valley,” Masmej explained. “San Francisco specifically has some of the most dense engineering talent and founders. Dreaming big is OK here.”

The culture of the Bay Area cultivates this freedom to create and take a healthy amount of risks. Masmej has expanded his network beyond the reaches of San Francisco and Silicon Valley in search of other creators and risk-takers.

“My favorite university by far is Berkeley,” Masmej exclaimed. “We made Breakout Bears sweatshirts, and we’ve given some to students. I love Berkeley. It’s close to my place.”

At the University of California, Berkeley, Masmej met Lucas Cho, a first-year student studying general business and focusing on his own entrepreneurial initiative.

Cho creates social media content for his media startup, My Life, which he created with his best friend, Theo.

“I knew I had to get our name out there, especially at Berkeley,” Cho explained. “I started posting videos, creating a series called ‘Building My Life at Berkeley,’ to let people know who I am and get brand awareness for the app.”

What’s the Big Deal?

While Breakout is still in its early stages, Masmej believes the platform can offer a more accessible funding model for student creators.

Masmej reached out to Cho on Instagram, where he was impressed with Cho’s drive to create and impact his community. They later met in person, where Masmej described his vision for Breakout.

Cho’s perspective: “Breakout is a new app for people to get funded for their projects and ambitions without having to give up equity. It gives people the opportunity to invest in like-minded individuals and people they believe in.”

Masmej wants Breakout to have a built-in sense of community. It’s not merely a machine for profit but a system of support for student creators and entrepreneurs.

“If you’ve made some money,” he described, “you can put it back into some treasury that people can then sell into. We’re trying to make it better than just a meme coin.”

Masmej said he plans to onboard at least 10,000 students, each receiving $10 to spend on friends’ projects through the app. Masmej has imagined an easier path to fundraising — one where creators can get paid in digital dollars for their projects.

“We’re trying to make crypto a technology that no one cares about in the background,” he emphasized. “It’s not actually what’s being marketed.”

Now, what differentiates Breakout from other crypto platforms?

Cho explained, “There are different platforms like betting platforms, but I don’t think they’re doing exactly what Alex is trying to do.” Instead, Cho said, “[other platforms] focus more on returns from meme coins and NFTs rather than people.”

“First, learn about it,” Cho said. “I think it’s a really cool idea built by people who genuinely care about supporting creators.”

“Engage with it, learn more, then join the app as an investor or someone who wants funding.”

In his closing statement, Cho encouraged people to engage with an open mind.

“Alex is really down to earth. Reach out to him or talk to people in the community.”

Alex Masmej — Founder of The Breakout App