10 Tips for Web3 Startups Founders to Gain Success in 2023

10 Tips for Web3 Startups Founders to Gain Success in 2023

The inflow of capital and talent into Web3 startups continues, propelled through the crypto winter by belief in the generational technological transition it represents. Capital has been secured and is looking for an early-stage home. Valuations and expectations have become more normalized, allowing for more rational and purposeful engagement with Web3 startups. We believe that the Web3 investment environment is more fertile than ever before.

1.Identify Your Niche

Clarity is the first step in developing a personal brand as a founder. Be specific about your interests and what you want to be known for. This will assist you in attracting the right followers and developing a distinct and authentic personal brand. Personal branding is a two-way street. Whether you want to talk about DeFi or cryptocurrency, it is important to pick a topic that you are interested in discussing and that people are interested in hearing about.

2.Select a Social Media Platform

Personal branding can be greatly enhanced by using social media. In fact, the majority of the Web3 audience is on LinkedIn or Twitter (also known as "crypto Twitter"). You can reach a larger audience and share your ideas with the world by being active on platforms such as Twitter, LinkedIn, and Medium.\

3.Produce Educational and Entertainmental Content

After you've defined your personal brand and selected a platform, it's time to start creating content but not just any content. Make certain that your content is interesting, informative, and entertaining. Great content is the foundation of the best personal brands. If you can consistently create high-quality content that both educates and entertains your audience, you'll be well on your way to developing a personal brand that people recognise and respect.

4.Participate in Web3 Specific Industry Events

Your personal branding journey does not end with the creation of content. Get out there and meet people face to face to really take your personal brand to the next level. What better way to accomplish this than to attend Web3-specific industry events? Attending events and networking with key players in the space will not only provide you with valuable insights, but will also allow you to make important connections that will help you advance your personal brand.

5.Collaborate with other industry thought leaders

Collaborating with other industry thought leaders can be beneficial as you begin to build your personal brand. You can do this by guest blogging, co-hosting events, or simply engaging in thoughtful social media debates. Collaboration with other thought leaders will not only help you refine your personal brand, but it will also help you reach a larger audience and cement your position as a thought leader in the space.

6.Concentrate on the product

Prove your economic worth. The crypto winter has demonstrated yet again that token price is the last thing we should be concerned about. The VC correction has demonstrated once again that valuations are not a reliable predictor of success. While money is still flowing, the crypto winter and VC slowdown have forced even the most ardent Web3 venture capitalists (and their investors) to tread more carefully. Valuations have become less hype-driven and more realistic; the amount of time spent on due diligence has increased significantly; and every founder must answer the question, "Does this project have any real-world utility, and does it create economic value?", directly, clearly, and concisely.

7.Accept transparency

Our limited partners want to know that their money is safe with us, and we need to know that it is safe with the companies in which we invest. This means a few things for you. Keep custody and security as transparent as possible, especially if tokens are part of the deal structure. Where are the assets located? What safeguards are in place to keep them safe? We have a long history of operational due diligence, and we place a high value on careful asset control.

8.Take the long view

We are, believe it or not, still in the early days of Web3. Most investors are unfamiliar with the majority of Web3 founders. That means having a clean record, references, and the ability to demonstrate trustworthiness are more important than ever. Keep your culture safe. Ascertain that your employees share the same values and standards of behaviour. The talent pool is deep right now, but keep in mind that in startups, every single hire has a significant impact on the culture (and chances of survival).

9.Consider the market conditions

Bear markets appear to be more appealing to blockchain startups looking to launch. However, before putting on their winter coats, entrepreneurs must consider whether it is worthwhile to postpone their launch until market conditions improve. In a bear market, evaluate your startup using the same criteria that investors use. Investors want to see a solid roadmap with deadlines and benchmarks that don't simply come and go with no activity, as this signals to investors that a slow rug pull is in progress.

10.Choose longer vesting schedules

Compensation packages are common in the non-crypto startup scene as an incentive for employees to perform well. During the presale period of an initial coin offering, blockchain startups use a method known as vesting, in which they lock and release assets (usually in the form of tokens) over a set period of time. In doing so, they grant their team, investors, and advisers access to assets such as retirement and stock options. Set up the token metrics and vesting period for the gradual release of these tokens in a way that does not put too much pressure on the token itself if you choose this path.