November 12, 2024 by investor
In the Web3 world, go to market strategies focus on tokens.
Tokens incentivize the early users by compensating them for their work.
In addition to users, developers, investors, and others can participate as well.
The use of tokens allows a company to launch without a product.
It puts the community and their mission at the center rather than the product and what it does for the customer.
Some Web3 communities called DAOs focus on building the underlying protocol that ties the community together.
Since revenue is not yet in the picture for many DAOs, they focus on TVL or Total Value Locked which measures the value of all assets associated with the protocol.
Other metrics include number of token holders, community engagement, and developer output.
Instead of offering free products the Web3 offers free tokens called airdrops.
This gives potential community members something of value at no cost such as the ability to vote on the direction of the DAO.
Communities can incentivize developers with bug bounties and quality testing.
Web3 brings new tools and structures to the startup world to speed the launch and growth of the business.
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