What are the steps for a successful Web3 project launch?

Your zero point is to figure out whether your product is a must-have or not. Without this don't even try growth-hacking, because it'll rather kill you faster than help go viral. Imagine your ideal customer profile experiences "aha" moment.. How would you be able to better deliver it?

Identifying a specific problem is the first step. After defining the problem, it's crucial to evaluate if Web3 can offer a unique solution without complicating the user experience. The solution should leverage Web3's strengths while ensuring it remains user-friendly and accessible to a broad audience, avoiding unnecessary complexity.

The language and the technology used by web3 platforms are just so un-relatable to the vast majority. But the problems that the technology solves are definitely relatable to everybody. It’s funny that some of the most exciting parts of #web3 products are precisely where so many first-time users churn; and where so many potential new users just glaze-over at the jargon.

web3 is full of the so-called ghost projects: great tech no one uses. This is both the problem of the product development approach and the industry being very young and not having enough active users. Start small and make sure to validate your hypotheses at each stage, never start building before you've identified there are people with the problem you are trying to tackle with your solution. Make sure those people agree with your perspective on the matter.

Define the Problem: Clearly identify the problem your project aims to solve within the Web3 ecosystem, and ensure it's a genuine pain point for users. Define the Solution: Develop a comprehensive and innovative solution that leverages Web3 technologies to address the identified problem effectively.

Selecting the appropriate blockchain is crucial. Consider factors like transaction speed, scalability, and the consensus mechanism. Ethereum is popular for its robust smart contract capabilities, but alternatives like Solana offer lower fees and faster transactions. In addition to transaction speed, cost and scalability, consider the ease of on-ramp/off-ramp processes. With Web3's composability feature, explore if there are existing protocols you can integrate into your project. This approach can enhance functionality and potentially reduce development time and costs.

Metamask can't help you build or test anything, this is just a wallet (actually an interface to use one). If you are reading this article, you are probably not very experienced in web3 and blockchain tech, therefore I'd suggest you don't proceed with choosing the tech stack with the help of such articles. If your idea has been successfully validated from the business perspective, think about recruiting a tech co-founder or hiring a developer.

For a successful Web3 project launch, follow these steps focusing on platform and tool selection: Choose the Right Platform: Select a blockchain or Web3 platform (e.g., Ethereum, Binance Smart Chain) that aligns with your project's goals and target audience. Select the Appropriate Tools: Identify and utilize the necessary Web3 development tools, smart contract languages, and decentralized infrastructure (e.g., MetaMask, Solidity, IPFS) to effectively build and deploy your project.

In many cases you will notice that the speed of onboarding users will be based on vendors that exist on your network and on the tech stack itself, so make sure to chose the right stack and network for what you are building.,

Smart contracts should be meticulously written, reviewed, and tested. Utilize best practices in coding, conduct thorough audits, and perform extensive testing to ensure they are secure, efficient, and bug-free. Remember, once deployed, these contracts are generally immutable and any bugs can result in loss of funds. For less complex solutions, consider using platforms like Thirdweb. These offer ready-to-deploy smart contracts for activities like NFT minting, reducing development time and cost. This approach can be particularly advantageous for projects not requiring highly customized contract logic.

There are a lot of companies already in the market who do smart contracts auditing, pen-testing, etc. Even the best developers make mistakes, so it's highly recommended to use third parties to make sure there are no vulnerabilities in your smart contracts.

In an environment where skepticism runs high, it's absolutely vital to ensure that your smart contracts align precisely with their intended logic and the promises made to the community. Thorough testing and auditing are non-negotiable steps before accepting user funds in any capacity. This assurance is paramount for the success and trustworthiness of your Web3 project.

Develop Smart Contracts: Create robust and secure smart contracts that execute the core functionalities of your project. Utilize appropriate languages like Solidity and consider best practices. Rigorous Testing: Thoroughly test your smart contracts using tools like Truffle or Hardhat to identify and rectify vulnerabilities, bugs, and potential issues before deploying them on the blockchain.

Do feel free to use Tenderly for smart contract debugging and verification, but if you are dealing with money find an auditor

I think whats called "Responsiveness" should be much better. HTMX should be baked in HTML, lets call it HTML6. So Web3 is something that has to grow and is not something thats finished.

Fair launches a dominant force currently. Learn how to build and monetize community. That will put you in a position where you don't need to chase VCs, Family Offices as 99,9% of the projects do. Instead, you would prove that your startup has a healthy relationship with its main asset - the community. And moreover raising funds directly from the community - is such a web3 stuff!

Effective marketing is key to the success of your Web3 project. Develop a comprehensive strategy that includes community engagement, social media presence, and partnerships. Focus on building a strong community around your project through platforms like Discord or Telegram. Educate your audience about your project's unique value proposition and how it solves the identified problem. Incorporating token incentives or off-chain points can also significantly boost adoption. However, be aware of bots and other gaming mechanisms. Set clear guardrails to ensure these incentives are sustainable and contribute to long-term project value. They should be strategically designed to drive specific KPIs and align with the project's overall goals.

Develop both a go-to-market plan and a marketing plan to execute the launch and monitor relevant iterations. While a GTM strategy is a comprehensive plan that covers all aspects of bringing a Web3 product or service to market, a marketing plan focuses specifically on the promotional strategies used to communicate with the target market.

Connect with influencers in the community. Web3 is different - you need to get validation from the market before others will buy into your product. Marketing does work but it is a community driven versus display advertising or PR on it's own.

One of the fundamental benefits of Web3 is the close alignment between investors/backers and users of the product. This synergy is often overlooked in Web2. Building your products around the early supporters ensures a highly advocated product. By maintaining this balance, you can continually attract new users while valuing and retaining your early community members.

Research the market and identify a need your project can fill. Define your project's purpose and key features. Assemble a strong team with technical and business expertise. Create a detailed roadmap and timeline for development. Design and build your core product or service. Launch an MVP (minimum viable product) to get initial feedback. Test extensively before launch to identify bugs. Create marketing materials to spread awareness and attract users. Continuously improve and add features based on user data. Build a community through social media, blogs, forums etc. Stay up-to-date on Web3 trends to adapt and innovate

In the world of Web3 projects, grasping tax implications and solid accounting systems is paramount. Income tax, capital gains tax, sales tax, and VAT can all come into play, influencing your project's financial landscape. Furthermore, effective accounting and treasury management systems are crucial for maintaining transparency and sustainable financial health. Ensuring compliance and strategic financial planning are key to navigating the complexities of Web3 ventures.

It all depends on the purpose of that Web3 project. If you have shit ton of money or private investors, you can make a shit project successful via marketing. But if you are looking at a bigger picture, Web3 combined with Web2 will be something.