How do Web3 products attract users and support growth like Web2 products?

How do Web3 products attract users and support growth like Web2 products?

It is not a concern of the users. But for those who are curious about Web3, you can use latticecapital to answer these questions.be specificThe fundamentals of the Web3 world and the work that much of the work does will continue to be the model that everyone chooses for future Web3 projects.Here is the text.

People's interest in Web3 has exploded over the years.

NBA Superstars are footing the bill for the numbers on NFT and proud to share, OpenSea has more promises than US store Etsy and the world's largest gaming giant running Ethereum. Interest has led to more new users entering the region, althoughHowever, the crypto industry in the crypto world is pale compared to the leader Web2.

Hundreds of applications and games in the world of Web2 have more than 10 million monthly users. Metamask is the only Web3 application to achieve this metric.

we believeWeb3 growth strategy not foundThis is the main reason why these applications are difficult to measure. The Web2 company has 10 years of developing and using a rich ecosystem, and in this case, the Web3 project was started entirely from scratch.

Web3 applications use a distributed, anonymous, and user-friendly process, and their content protects against the use of malicious policies. Many Web2 applications have seen significant development through intermediaries such as Facebook, which provides real-time user data and a wide range of information.Web3 doesn't have an app store, your project doesn't know who your users are, and there is no way to communicate with them.

Therefore, entrepreneurs need a new development to make the online internet a successful open source community service. In other words, Web3 needs a new development guide.

Challenges and Opportunities for Web Development3

The Web3 application faces three major issues in design and user engagement.

Mission 1: Individual

Most Web2 development strategies assume that the user knows (potentially). Development of the virus typically occurs on platforms that create social graphics based on real-world personalities. To grow, you need to understand how data is used so that you can build targeted users. Many businesses make thousands of dollars helping others do their best.

Web3 dispels this notion. Indeed, most of the current operations of the chain are anonymous.

Many teams are working to make Web3 personal. The rapid growth of the Ethereum brand service makes the Ethereum wallet, which is now the primary "account" for cryptocurrencies, more readable. Ceramics and other DID projects are also working to create a unified account structure for Web3. (Note: DID stands for Decentralized Identity and Decentralized Identity.)

At the same time, many companies have less favored recognition of anonymous “free subscription” DeFi products than their executives for compliance and stakeholders. For example, Maple Financial recently created an “acquired” loan organization that wanted members to pass the KYC, and Violet is developing a new Ethereum system to connect the means of recognizing strings and strings.

During this time,Some work has been devoted to the design of chains with a bottom-up approach.Instead, wear an off-chain auto to the chain. Galaxy develops personalized solutions in an encrypted world, using user behavior to create personalized data. ARCx announced “Credit Sesame” in DeFi World, which provides credit points for user operations on the channel.

Mission 2: Communicate

Web2 uses Facebook advertising to reach new users, send emails to reactivated users and push notifications to alert new users. There are currently no tools for growing the crypto-native breed, which is a major issue for the development of a successful project.

Web3 communication tools started later than analytical tools, but there are still many solution development teams.EPNS is developing an event alert system, while CyberConnect and other companies are working to build community relationships to support relationships with end users.

Some companies have adopted different ways of integrating Web3 into their existing communication devices.The Collaboland app extension plugin has developed a Discord bot that can connect to an Ethereum wallet to identify the equivalent of a customer before joining a newsgroup. Lit Protocol develops an access control platform that allows you to manage content, software, and data using tokens or NFTs.

Challenge 3: Limits of the platform

In the context of major internet changes, cryptocurrencies are often compared to mobile technology. We think this comparison also helps us think about the size of the market. All products on mobile devices are platform specific. For example, if you are developing a mobile meditation app, your business goals are limited by Android and iOS systems.

The impact of this "restriction" is small, assuming that almost all adults in the world own a smartphone.

The limitations encountered by the Web3 product market are much greater. You will be limited, for example, by installing crypto wallets.If you are developing a DeFi app on Ethereum, your current target is around 25 million users on the Ethereum wallet (although that number is growing rapidly).

However, some products are now pushing the boundaries of bagged products to see a larger market.

Some activities interfere with the idea of ​​a wallet to access users who don't care about their privacy keys.For example, Dapper Labs developed NBA Top Shot as one of the most popular Web3 apps, undermining all aspects of blockchain. Click NFT Image / Video, then click OK to convert image / video to NFT), I think it helps identify important apps.

Some products are blockchain products, breaking down barriers by increasing satisfaction for new users.Helium, for example, has gained over 350,000 users who have configured the gateway (except for the fact that it runs on a blockchain) by making people happy that internet hotspots are monetized. We believe this will attract the same number of car enthusiasts to join Web3.

Here is the latest category of products designed to get a wider audience excited for the cryptocurrency itself.CoinList and Coinbase provide middleware products that encourage people to try Web3. Rabbithole has played a key role in attracting new users to Web3, and Galaxy has played a key role in encouraging communities to try new products. At the same time, apps like Layer3 make it easier to monetize Web3.

Web Development3

Collaboration, user ownership, and symbols of growth as growth are the cornerstone of Web3 development.

Collaboration / integration

It is nothing new for software companies to develop from a major business expansion, and many Web3 projects are embracing this concept as well. For example, ChainLink adopted a partner's strategy during the 2018-2019 bear market, which made LINK so successful.

However, the business development of Web3 is very different, a lot of discussion started in management forums rather than in private conference rooms.Many mergers are not always beneficial to both parties because they do not require the consent of the other party.For example, many challenge platforms include curves in a way that doesn't necessarily have a positive effect on the curve itself.

Here are some tips for Web3 collaboration.

Token request—— The project should implement as many events as possible. This includes registering stock exchanges, providing proprietary products (such as compound guarantees and LINK), or working with DEXs to create a toxic environment.

universal—— Many users interact with the DeFi protocol via Wallet (Metamask, Rainbow) and Unite (Zapper, Zerion). The integration of income with a wallet is huge, as the above interactions dictate the process they offer to their users.

lego set—— Use different DeFi techniques to add additional effects to the product. For example, Notional V2 integrates with Compound to improve LP recovery.

suck—— Recognize that the two teams create more equality and less competition. It's a good idea for direct collaboration, like Keep and NuCypher, or Fei and Rari.

cash extraction tootoken industry

Over the past decade, as the industry has grown more destructive and data-driven, “growth hackers” have become increasingly popular (“growth hackers” refer to business information, products and the use of technology as growth targets). While Web2 development hackers have worked to create an inexpensive, repeatable growth platform, the goal of cryptocurrencies is to use individual project tokens to drive growth.

Liquidation is "a network collaboration strategy in which users receive a trade in exchange for the original tokens." Just as investment funds support businesses until they grow to size, the Web3 protocol can use tokens for growth.

Yes No,Crypto projects encouraged by tokens face similar challenges for Web2 startups that use large amounts of venture capital.Obviously, most of the users who provide cash are only looking for profit. So we're starting to see more liquid mining equipment than OHM and Rift.

community

Where Web2 companies focus on having users trust stored and archived users, Web3 companiesKeep users creative.

One of the advantages of Web3 is that it "allows users to spend money directly on the products, information and services they consume". We are at the initial stage of understanding the implications of this new development.

We believe that communities are important for developing partnerships because they can be motivated by effort. If you watch the community engagement news on Twitter, you'll see it's pretty obvious. Each presentation will have several discussions and rehearsals.

The community can modify or add stakeholders to the Web3 project.

Early user (cheerleader)—— Having a small group of passionate users is essential for every startup.

Key groups—— Community members can help with recruitment, design and fundraising.

expansion of the core team—— Community members can support and non-support student groups.

helps to be noisy—— New companies want to collaborate with larger communities, just as we expect new products to be shipped out of the wealthy capital.