Welcome to the world of WEB3 startups, where success is just three ‘easy’ steps away. Step one: develop a groundbreaking idea. Step two: create a killer product. Step three: secure funding. Sounds simple, right? Wrong! In reality, building a successful WEB3 startup is more like trying to navigate a maze blindfolded while riding a unicycle and fighting wild feral hogs — it’s not impossible, but it’s definitely not easy. So buckle up and get ready for my reality check on what it takes to make it in the wild, wild west of WEB3 startups.
What it takes to make it in WEB3: A Hilarious Reality Check
- A willingness to embrace the unknown and navigate a constantly evolving landscape of buzzwords and hype.
- An uncanny ability to make things up as you go along and pivot your business model every other week.
- An obsession with staying up-to-date on the latest memes, trends, and cultural references — because if you’re not relevant, you’re irrelevant.
- A healthy dose of skepticism and the ability to call out the numerous projects that are just riding the latest crypto wave without any real substance.
- The ability to navigate the treacherous waters of crypto Twitter without getting sucked into a flame war or falling prey to a scam.
- A knack for developing catchy slogans and taglines that will resonate with the crypto community (e.g. “To the moon!”, “HODL”, etc.)
- The willingness to spend endless hours on Discord, Telegram, and other messaging platforms engaging with potential users and community members.
- An understanding of the importance of community building and the ability to rally a group of like-minded individuals around your cause.
- The ability to handle the constant stress and uncertainty that comes with building a startup in a highly speculative and unpredictable space.
- A deep passion for the potential of blockchain technology to change the world (or, failing that, to make you filthy rich).
Alright, those were more soft skills, if you will, that you should have to survive in the space, but seriously, at the end of the day, what it takes is a combination of hard work, dedication, and a willingness to learn and adapt as the space evolves. And a good sense of humor certainly doesn’t hurt either. Now, here is what it takes to make it as a startup in WEB3 for real:
- A deep understanding of the blockchain technology that underpins the WEB3 ecosystem, including its strengths, weaknesses, and potential applications.
- A clear understanding of the target market and user base, including their pain points, needs, and preferences.
- A strong team with a diverse skill set that includes technical expertise, business acumen, marketing know-how, and community building skills.
- A clear and concise product vision that solves a real-world problem in a unique and innovative way.
- A focus on user experience and user interface design that makes the product easy to use and accessible to a wide range of users.
- A solid business model that can generate revenue and sustain the project over the long term.
- A well-executed marketing and outreach strategy that builds community engagement and generates buzz around the product.
- A willingness to iterate and improve the product based on user feedback and market trends.
- A commitment to transparency and accountability in all aspects of the project, including token economics and governance structures.
- A willingness to adapt and evolve as the WEB3 space continues to grow and evolve.
Successfully launching a product in the WEB3 space is not easy, but with the right combination of skills, knowledge, and expertise, it is possible to build a product that can make a real impact and change the world for the better.
So there you have it. Building a successful WEB3 startup is anything but simple, but with the right combination of hard work, dedication, and a little bit of luck, it’s possible to make a real impact in this space. Sure, there is plenty of crap and interesting personalities in the crypto world — from Elon’s mood to moon memes and rug pulls — but let’s not forget the real people and projects that are working to make a positive difference. So keep on building, keep on innovating, and keep on pushing the boundaries of what’s possible in the world of WEB3. Who knows, maybe one day you’ll look back and realize that you’ve changed the world.
Also published here.