I'm Thess, Founder of Web3 Daily. In the process of working with Projects, Founders and observing the market, I have noticed the following trends, so I want to write a few words to builders so that you can pay attention and refer to them
This is a time when everyone experiences shocks from the market. This includes rug pulls, bonds being due, and so on. We have all experienced the emotional ups and downs of putting too much expectation on new things, only to be disappointed when we see what they actually are. We expect it to be like a firework that lights up on a down-trending night and then goes out. However, this is the golden time to build, to challenge the team's steely spirit. It's time to cleanse the market, from users to builders, and even big and small investors.
So let's just build, but understanding the market's currents and news will help you avoid making mistakes that lead to starting to build your strategy with the "right" and "good" look, but then more and more things start to go wrong.
Projects need to pay attention to and follow these trends if they don't want their brainchild to die prematurely and the project to come to a standstill:
Innovation Trends.
In my opinion, innovation is essential for any development. The market has a very short lifespan compared to humans, and especially Web3 has an even shorter lifespan. Web3 is still in its infancy, and it is constantly evolving. What is considered good today may not be good enough tomorrow. This is because the needs of users are constantly changing, and new technologies and trends are emerging all the time.
For Web3 to continue to grow and thrive, it is essential for builders to be innovative. They need to come up with new ideas and solutions that meet the needs of users. This can be challenging, but it is also very rewarding. When builders are successful in innovating, they can create products and services that make a real difference in the world.
There are many ways to be innovative in Web3. One way is to create new products and services that have never been seen before. Another way is to improve existing products and services by adding new features or making them more user-friendly. Builders can also be innovative by finding new ways to use existing technologies.
No matter how you choose to be innovative, it is important to remember that creativity is key. Don't be afraid to think outside the box and come up with new ideas. The future of Web3 depends on it.
Mergers and Acquisitions Trends.
There are several reasons for the recent surge in mergers and acquisitions (M&A) activity in the Web3 space.
Companies/projects need to consolidate to form a bigger, stronger entity. This is because the Web3 space is still in its early stages and is highly competitive. By merging or acquiring smaller companies, larger companies can gain access to new markets, technologies, and talent.
This is also the time when money shows its power most clearly. When tokens and equity prices fall on a large scale, this is when larger companies can acquire smaller companies at a discount. This is because larger companies have more resources and can weather the storm of a bear market better than smaller companies.
Here is a more detailed explanation of each reason:
Companies/projects need to consolidate to form a bigger, stronger entity.
The Web3 space is still in its early stages and is highly competitive. There are a lot of new companies and projects entering the space, and it can be difficult for smaller companies to compete with larger companies that have more resources and market share. By merging or acquiring smaller companies, larger companies can gain access to new markets, technologies, and talent. This can help them to grow their business and become more competitive.
This is also the time when money shows its power most clearly.
When tokens and equity prices fall on a large scale, this is when larger companies can acquire smaller companies at a discount. This is because larger companies have more resources and can weather the storm of a bear market better than smaller companies. They can afford to buy smaller companies at a lower price, even if the smaller companies are not doing well financially. This can be a good opportunity for larger companies to acquire new assets and technologies at a lower cost.
Web5 Trends.
Web5 is not Jack Dorsey's Web5. It is Web2+Web3.
Web3 is characterized by decentralization, transparency, publicity, and security. However, there are many barriers to this cool technology reaching the majority of Web2 users.
How do we solve this problem? We integrate Web3 into existing Web2 applications that already provide a good user experience and have a large user base. Voila! And we have Web5.
There are many dapps that have successfully applied this model, especially GameFi.
There are a lot of great games with a huge user base in Web2. Why not put them on Web3?
Trends in optimizing budget for product development and marketing activities.
I often ask myself, in this market, who holds the most money? Where did all the money go?
Retail investors? Not really. They are like ants with broken wings and bees that have lost their way. The ups and downs of the market slap them in the face and give them lessons more memorable than a teacher's lecture.
Projects and builders? Not even more. They are like religious people, with empty stomachs and dry throats. The cost of maintaining a SaaS business is not small, causing many CEOs to suffer. The problem of cash flow, business balance, revenue, profit, and cost makes even experienced CFOs in Web2 sweat and cry. Their businesses are truly money-making monsters.
Funds? No, they are also struggling to make ends meet under the pressure of investors in the fund. Funds are actually businesses that call for capital from investors, using their own prestige to stand up and return a profit at the end of the period.
Funds still have money, but they also have to think carefully before investing in any project. They have also tasted the bitter fruits of investing in projects with impossibly high expectations, and now they look at Web3 projects with eyes filled with suspicion.
With a Web3 business, there are two biggest payments to make: employee salaries (the majority of which go to the development team) and marketing costs to acquire users.
There is a funny thing that Web3 projects often encounter when doing marketing.
They equate the marketing concept for a Web3 project with building a crypto community. Building a vibrant crypto community is the natural result of a good marketing plan. Nahhh!
They often identify the product user base and the crypto community. This may be true for some cases, but most of them make mistakes when Web3 is getting closer and closer to Web2 and in these bleak times the Web3 community often doesn't have enough help to help the product grow and develop.
You should clarify who the users of your product are, how their insights are, and focus on acquiring that user base. They are the people who feed your project and your family.
Save as much as you can and only spend money on reasonable expenses. A coin in this period can also do wonders if used correctly. Save money for opportunities and an accumulation to help feed your dreams.
The trend of focusing on the user experience.
For launched projects, having a specific roadmap and strategy, changing completely to fit the trend will be extremely difficult, and sometimes impossible.
When you don't follow the trend, what should you do? This is a dilemma when "it's okay to give up, but the king is guilty." To solve it, founders have to be extremely skillful.
They need to know how to retain users/community by improving product quality and user experience. In parallel, they should promote the process of developing cooperation with other dapps or even units in the web2 space to increase benefits for users and bring in new users.
In addition, launched projects should not ignore any trends. Although there are many difficulties, you also have many advantages.
There is always a solution for everything.
Keep Building - Keep Fighting! đȘ
Thess Ahn - Founder of Web3 Daily.
