01 logo

10 TIPS FOR WEB3 STARTUPS FOUNDERS ON:

HOW TO GAIN SUCCESS IN 2023 CRYPTOCURRENCY

By Olaniyan SamuelPublished about a year ago 5 min read
Like

A conviction in the generational technical shift that Web3 startups represent has kept money and talent coming into them during the crypto winter. Money has been raised and is looking for a place to start. Values and expectations have become more commonplace, making interaction with Web3 startups more logical and purposeful. The condition for investing in Web3 is more favorable than ever.

1. Decide On Your Niche

The first step in creating your personal brand as an entrepreneur is clarity. Describe your passions and what you wish to be renowned for in detail. This can help you build a strong personal brand and attract the proper kind of followers. A two-way street is personal branding. It's crucial to choose a subject that both you and the audience are interested in talking about, whether you want to discuss DeFi or cryptocurrency.

2. Choose A Social Media Network

Social networking may significantly improve personal branding. In actuality, Twitter or LinkedIn (sometimes known as "crypto Twitter") is where the majority of the Web3 audience is found. By participating on sites like Twitter, LinkedIn, and Medium, you can share your ideas with the world and reach a wider audience.

3. Make Entertaining And Educational Content

When you've decided on a platform and defined your personal brand, it's time to start producing content—but not just any material. Make sure your material is engaging, educational, and amusing. Best personal brands are built on excellent content. You'll be well on your way to creating a personal brand that people recognize and appreciate if you can consistently produce high-quality content that informs and entertains your audience.

4. Attend Industry-specific Web3 Events

The process of developing your personal brand continues after the material is finished. To advance your personal brand, venture out and interact with people in person. Attending industry events tailored to the Web3 sector is the best method to do this. Attending events and networking with influential figures in the industry can not only give you useful information, but also give you the chance to establish crucial contacts that will improve your personal brand.

5. Work Together With Other Thought Leaders In The Sector

As you start to develop your own brand, working together with other industry thought leaders might be advantageous. This can be accomplished through guest blogging, co-hosting events, or even just participating in thoughtful social media discussions. Working together with other thought leaders will not only help you strengthen your personal brand but also expand your audience and solidify your status as a key player in the field.

6. Pay Attention To The Merchandise

Show off your financial worth. Token price is the last thing we should be worried about, as the crypto winter has once again shown. Once again, the VC correction has shown that success cannot be accurately predicted by valuations. Even the most passionate Web3 venture capitalists (and their investors) have had to tread more gingerly because of the crypto winter and the VC slowdown, even though money is still coming. The amount of time spent on due diligence has dramatically grown, valuations have become less hype-driven and more realistic, and each founder is now required to respond to the inquiry of whether their business has any practical utility and generates any financial value. ", succinctly, plainly, and directly.

7. Consent To Honesty

Both you and the firms you invest with must be confident that the money of limited partners is secured. This has several implications for you. Maintain as much transparency as you can on custody and security, especially if tokens are a component of the deal structure. What locations do the assets have? What security measures are in place to protect them? We have a lengthy history of doing operational due diligence and highly value meticulous asset management.

8. Take the Long View

Believe it or not, Web3 is still in its infancy. The bulk of Web3 founders are unknown to the majority of investors. As a result, it is more crucial than ever to have a spotless record, positive references, and the capacity to establish one's reliability. Protect your culture. Make sure all of your personnel uphold the same moral principles. Although there is a lot of talent available right now, startups are where every employee has a big impact on the culture (and chances of survival).

9. Think About The Market Condition

Startups trying to use blockchain seem to find bear markets more interesting. Entrepreneurs must decide whether it is advantageous to delay their launch until the market conditions improve before pulling out their winter jackets, though. Use the same standards that investors use to evaluate your startup during a bear market. Investors prefer to see a strong plan with milestones and benchmarks that don't just appear and disappear without any effort because this suggests that a steady rug pull is underway.

10. Select Longer Vesting Periods

Incentives for employees to perform well are popular in the non-crypto startup sector in the form of compensation packages. Blockchain firms utilize a process known as vesting during the presale phase of an initial coin offering, in which they lock and release assets (often in the form of tokens) over a predetermined period of time. By doing this, they give their staff, investors, and advisers access to resources like stock options and retirement accounts. If you select this route, make careful to set up the token metrics and vesting time in a way that does not place too much pressure on the token itself.

cryptocurrency
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.