Add3, Content
January 17, 2023
8 min reading
One of the most important things you have to do as a Web3 project founder is manage your resources and VC funding. You may have the best idea in the world with perfect market fit. Perhaps you even have the Web3 talent to execute it and some startup capital to begin. None of that will matter if you can’t manage your timeline and budget.
Too many Web3 projects fail because they run out of money or they wear out investor and user patience. If you’ve launched a project or are currently launching one, you know how difficult it can be.
Startups are hard. Building something from scratch is hard. This is especially true for founders trying to get a Web3 project off the ground because it’s such a new space. There are fewer tools available and more hazards along the way.
Good SaaS and Web2 projects require a good idea, but the infrastructure and talent to build them already exists. This isn’t the case with Web3. In addition to needing a great idea, you need people and resourcefulness.
Building a Web3 project takes a lot of time to build out. This is because coding smart contracts is still tedious like web development was back in the aughts. Not only do you have the same front end and back end engineering that Web2 projects have, you also need to think about smart contract engineering. This always makes things more complicated.
If you want to secure VC funding to really slingshot your project to the next level, you have to make big promises. Especially with the collapse of so many crypto-related companies and VCs in this bear cycle, funding is more difficult to come by.
On top of finding startup capital, you have to hire the right people. You need to manage product development, find product market fit, gain users and make them happy, and make investors happy. If you’re lucky enough to secure venture capital, there will be expectations.
As every savvy founder knows, “Investors will want to see a return on a certain timetable and will expect you to hit specific growth metrics.” You can’t rest on your laurels, you need to get results – and fast.
When you’re in the scale-up phase, you need lots of technical work on your core product. Because time, money, and talent are all scarce these days, that means you can’t waste time on developing outside of your MVP.
Starting a Web3 project is like launching any other kind of startup in many ways. You need funding, you need product development, and you need an audience. But there are some unique hurdles Web3 projects face because it’s such a new space.
Because there are barely more than 18,000 monthly active developers in crypto and Web3 projects, they come at a premium. You need a budget for top talent if you want your contracts done right.
In addition, smart contracts today are at a similar stage as websites were 15 years ago. Everything needs to be coded from scratch. There are very few no-code solutions for Web3 projects today.
As a founder, If you don’t manage your startup capital properly, that can kill your project completely. It doesn’t matter how much VC funding you have if you don’t know how to use it.
But scarce talent and high technical difficulty isn’t the only problem for Web3 project founders. There’s also the problem of Project No-Man’s Land.
If you manage to launch a token, generate some hype and additional startup capital, the excitement starts to fade. User and investor expectations remain high which means you have to deliver big. If product development is too slow, the excitement dissipates and people begin to move on. This is Project No-Man’s Land.
The community that you started will become restless and impatient as the project fails to achieve roadmap milestones. Token holders want progress or they’ll liquidate their positions. The token price can easily go off a cliff, depleting resources. If you lose too much support for the project, you won’t make it out of Project No-Man’s Land..
When Web3 projects get stuck in this death valley of the project hype cycle, it can be deadly.
Thankfully, solutions for all of these problems are emerging. If you need to be more efficient with your startup capital and VC funding, there’s a solution. If you need developers working hard on the core product, you don’t have to lose hope for additional functionality.
WordPress, Wix, and Squarespace revolutionized the web development space and Add3 is poised to do the same for Web3. There are many common smart contracts that continue to be re-coded every day. But redundant smart contract development is now a thing of the past.
Add3 solves all three problems of dev team bandwidth, limited time, and limited budget. With pre-audited, no-code smart contracts, founders can guide their Web3 projects through Project No-Man’s Land successfully.
You need ways to build utility that doesn’t cost an arm and a leg. Add3’s no-code platform give you:
Don’t get distracted from the mission of your Web3 project. There’s a need and a use for common features like token minting, staking, and vesting and distribution contracts. But it shouldn’t come at the cost of your core product. It also shouldn’t drain your startup capital or VC funding.
Founding a Web3 project is hard. If you don’t know what you’re doing, you can easily lose your way and crash the project. If you want to avoid Project No-Man’s Land, bring a wealth of utility to your users, and save time and money, use Add3. It’s the no-code Web3 platform that Web3 has been waiting for.
Add3 is the best way to go to market faster, with fewer costs, and with less technical knowledge required. Today, anyone can launch a website quickly and easily with no-code platforms. Tomorrow, they’ll be doing the same thing for Web3 projects using Add3.
