The best web3 founders have new superpowers 🚀

I spoke with 400+ web3 founders, operators, & investors about the exceptional challenges they face.

Here's my top 10 takes for picking winners in web3 🧵 1️⃣ Winners will be ecosystem builders, not just tool builders.

You want to be building a playground to sell shovels, not just convincing people there's gold in the sandbox.

Web3 moves quickly & communities are no exception.

With member acquisition as quick as churn, thoughtful onboarding is key to building great communities.

First show members how to get value, then establish a habit to help achieve their goals.

FIVE community onboarding tips 👇 1️⃣ Establish a clear mission & vision:

In a bull market, token speculation is a popular reason for joining web3 communities. Speculation draws crowds, but churn is quick.

Members need to understand what the community is working toward & how they fit in to stay engaged.

1/14 What will be larger than web3 gaming?

Decentralized Science.

- Science touches every industry

- Funding models are from the 60s

- Scientists are historically disempowered

Summarizing A Guide to DeSci: The Latest Web3 Movement by @Shamburgularara for @ScribeDAO ⬇️ 2/14 Decentralized Science (DeSci) is at the intersection of 2 trends:

1) Scientific community efforts to change how research is funded and knowledge is shared.

2) Crypto-focused community movement to shift ownership & value from industry intermediaries.

1/11 What if you could bet on your favorite artist early in their career?

With music #NFTs, you can.

Fans collect the songs they love, now with digital scarcity.

Summarizing The Bull Case for Music NFTs by @Cooopahtroopa &
@0x_Lucas of @banklessDAO for @scribeDAO ⬇️ 2/11 Collecting music isn't new, but collecting online is.

Just as we collect vinyl, burn CDs, & curate playlists, Music NFTs enable you to curate your taste with exposure to the artist.

In the traditional world, music collectibles represent a $5B market.

What about in web3?

1/12 As web3 becomes more mainstream, web3 social has emerged.

Humans are tribal.

The desire to connect & form communities is in our DNA.

Web3 social is a new user-centric model.

Summarizing Web3 Social Landscape by @tomscaria & @natasha__iman of @prysm_xyz for @ScribeDAO👇 2/12 In web3 social, users own their identities, data, and the content they create for apps and protocols.

It's a springboard into DAOs, platform-less social networks.

It's a new social media era where users own the networks and create positive externalities for non-users.

1/23 How do you go-to-market in web3?

Web2 & web3 orgs differ on goals, growth, & success metrics.

You start with a clear purpose, grow community around that purpose, & match incentives accordingly.

Summarizing GTM in Web3 by @meigga of @a16z for @ScribeDAO & @SafaryDAO👇 2/23 In web2, organizations are structured with centralized leadership making the decisions.

The majority of value is accrued by platforms, rather than users.

The go-to-market (GTM) strategy focuses on generating leads & acquiring and retaining customers via sales & marketing.

1/9 Most DAO treasuries hold 90% in their native token.

This shows conviction in their future, yet poses risks.

DAOs must diversify treasuries via community-run partnerships.

Summarizing DAO Strategic Partnerships by @0xjosh_ & @DMSchlabach of @llamacommunity_ for @scribeDAO👇 2/9 DAOs must diversify their treasury.

Having 90%+ in native tokens is both dangerous & inefficient.

DAOs should have 1-2 years worth of operating expenses in stable coins.

It's a win-win: gain stables to pay contributors & distribute native tokens to further their mission.

1/10 #CryptoVC is murky to outsiders.

New funds pop up all the time.

Rounds close at lightning speed.

Some founders now avoid VCs, aiming for networks of angels or #DAOs.

Summary of Crypto Venture Capital: A Bird’s Eye View by @cryptovcdylan of @BlockchainAG for @scribeDAO ⬇️ 2/10 There are 3 categories of crypto VCs:

- Brand Funds: Everyone knows them. Big shot investors.

- Specific Value Add: Formidable due to key expertise.

- All Purpose Service: Full-stack VCs, typically incubators & accelerators.

1/12 #Airdrops are among the most effective #web3 growth strategies for new projects.

If you provide new members ownership, a tribe, vision, and status, they'll help you grow the project.

A summary of How to Make Airdrops That Go Viral by @CDTEliot of @CoinviseCo for @ScribeDAO 2/12 An airdrop is a token distribution to multiple crypto wallet addresses.

There are two types:

- Raising Awareness: Early stage, when a community launches and wants to bring on new members.

- Exit to the Community: Later stage, when a community wants to decentralize power.

1/15 #Web3 needs a new growth playbook.

There's no App Store, most users are pseudonymous, & no way to contact them.

Web3 growth will be defined by integrations, community, liquidity mining, & tokenomics.

A summary of The Web3 Growth Playbook by @lattice_fund for @ScribeDAO ⬇️ 2/15 Web3 apps face three foundational challenges:

1) Identity: Vast majority of on-chain activity is pseudonymous.

2) Communication: Web2 channels like email, push notifications, & ads don't yet exist.

3) Platform limits: Web3 is constrained to crypto wallet users (~25M).