Author: MapleLeafCap, a leaf venture, Source: Twitter, @MapleLeafCap
Recently, I have been in Shanghai for almost 5 months and have met many excellent Web2 to Web3 application entrepreneurs. Here are some of their recent ideas and views for reference only. In addition, they are quite dissatisfied with Elon’s restriction on threads, as it brings trouble to reading long articles.
– USD payments have become the most powerful application in the industry. Letting users use USDX for transactions is still the best way to expand the user base, as most people cannot adapt to their own utility tokens. The deposit issue is gradually being solved, but more efforts are needed for the last mile of withdrawals to be successful. If you have any ideas, you can communicate with them, as many applications have huge demand.
– Currently, pure halal account system is just self-entertainment in the industry, and semi-centralized solutions like centralized exchanges are most suitable for people who want to land quickly. In addition, the vast majority of users actually only care about a few core functions, and really don’t care about the native features of Web3. Only when the basic needs are met and a sufficient user base is accumulated, will there be innovation and lofty ideals. I estimate that this field will be quite mature in 12-24 months. As for the issue of halal, I can only hope that some geniuses can do better in UI/UX to surpass other competitors.
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- Viewpoint: The best on-chain social platform is Dune, and the best decentralized game is Uniswap.
– The Pareto pattern is achieved by using free tokens, cash flow multiples, and time mismatches in the circulating market to achieve wealth effects and scale effects over a period of time. Finally, it relies on the lower limit of the product and entertainment consumption needs. In general, many current Web3 products have neither scale effects nor network effects, and the degree of completion is like a mess. Adopting the Pareto pattern without adequate preparation is an absolute failure. Of course, the Pareto model is also a great killer for general projects and Web2 leaders, but we have not found the answer to how to play better in terms of not significantly changing user portraits, continuously motivating new users, binding continuous contributors, and balancing food profit classes. Personally, I am looking forward to the emergence of new models.
– As mentioned earlier, if you dare not touch the boundary of value capture, can you still say that you love Web3? There are many ways to capture value, not just repurchase. You can increase the blind box and burst rate of airdrops after Staking, provide Stakers with premium repurchases or cashback potential value in the game. For many projects with tax deduction scenarios, can taxes be greatly reduced or even discounts/subsidies provided? This is related to the previous point. I personally think that teams that are excellent in both product and mechanism can surpass similar Web2 projects in user acquisition efficiency, ARPU, and user retention in a period of time.
– It is now 2023, so stop boasting about being an “NFT project”. NFTs, like FTs, will become standard for projects that integrate Web3 features. Therefore, even if you say “we are a luxury brand for Web3,” it should be more realistic. In terms of games, the current industry’s throughput cost cannot support on-chain transactions of ordinary game props, so centralized transactions are still mainstream for a period of time. What can be traded on-chain are valuable items, many of which can be gamified (for example, returned to the game after on-chain transactions to get buff/debuff). Let’s think together about the purpose of putting valuable items on the chain.
– Currently, we have not fully considered whether the game’s internal economic industry chain should belong to the official or the player, and how durable goods should be consumed in the end. We don’t have an answer to this question ourselves. We can only take one step at a time. There are many experts in this industry who know more than we do. Looking forward to communicating with them.
– The real payment scenarios for the application are only two. As mentioned earlier, entertainment determines the consumption power, and the other is that people who want to get investment returns outside the field are willing to pay for certain behaviors in the application, the most typical of which is advertising/getting user attention. It is indeed not easy to build entertainment, so I also look forward to seeing any application that can directly meet external demand and return to users. It is best to be practical applications with high-frequency daily use, which have strong profit-making capabilities on Web2, whether it is Strava, Chrome or Today’s Headlines. If you have good ideas, please share them directly with us.
– The vast majority of the projects currently seen in Web3 neither understand 2C products nor how to achieve user growth (although CEXs generally do a good job). Many experiences in Web2 are actually very applicable, so people who have had successful Web2 entrepreneurial experiences in the past, I think, have advantages. However, one must recognize that many of the industry’s Ren Du Er Mai have not been opened up, and the ready-made TAM is extremely small and many basic infrastructures are messy. Second, understand that adding Web3 features is like starting to play a financial game; so the inherent awesome experience in the past is good, but if you follow the big TAM and rush to it without managing expectations and being sensitive to financial prices, it is still very easy to mess it up. Let’s learn together.
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