A Guide to Initiate a Product Launch AMA Recap
Viction hosted a captivating AMA session with Matrixport, Alt Layer, and BTSE to discuss how to build web3 products from scratch. This virtual gathering brought together Lak - Growth at Viction and three industry leaders - Dorothy (Head of Growth at Alt Layer), Benjamin (Lead of Institutional Business and DeFi Development at Matrixport), and Amanda (Head of Token Listing at BTSE) - to delve into the complex and ever-evolving world of Web3 product launches and post-launch strategies. The discussion served as a beacon of guidance, offering invaluable insights for seasoned veterans and aspiring newcomers alike
Key Takeaways
- User-centricity is paramount: Successful Web3 products are built around the needs and desires of users.
- Adaptability is key: The Web3 landscape is constantly evolving, and successful projects must be able to adapt and change accordingly.
- Collaboration and partnerships are essential: No single entity can succeed alone in Web3. Collaboration and partnership are crucial for building a thriving ecosystem.
- Education and support are critical: New users need education and support to navigate the complexities of the Web3 space.
Charting the Course: A Look at Product Launch Strategies
The discussion set sail with the crucial first steps – crafting a watertight product launch strategy:
Dorothy, representing Alt Layer, emphasized the need for a clear understanding of the problem product solves and the target audience it aims to serve. This initial introspection, coupled with a thorough assessment of your strengths and resources, lays the groundwork for an effective product launch.
Benjamin, from Matrixport, highlighted the importance of aligning your launch with prevailing market trends and needs. He stressed the need for agility and adaptability in the face of market shifts, while maintaining a laser focus on core competencies and fostering innovation.
"The Web3 landscape is constantly changing, so you need to be able to adapt quickly and stay ahead of the curve. That means aligning your product with market trends and being willing to pivot when necessary." - Benjamin said
Amanda, representing BTSE, introduced the 30/70 split concept, highlighting the critical balance between generating buzz and diligently developing a robust product.
Maintaining Momentum: The Post-Launch Landscape
The conversation then steered towards the equally important topic of maintaining momentum after launch:
Dorothy shed light on the importance of constant adaptation to market shifts. She emphasized the need for identifying new product-market fit opportunities and leveraging existing projects by integrating them with new technology.
Benjamin focused on the strategic potential of emerging markets with high crypto adoption and technological savviness. He further highlighted the importance of offering dollar-like stability and payment rails solutions to foster wider adoption.
Amanda emphasized the importance of flexible resource allocation based on market trends and project needs. She also discussed offering incubation and launchpad support for emerging projects and fostering connections with regional communities to build a strong support network.
"It's important to support the projects you list on your platform. Offer them resources and help them connect with the right communities. This will help them succeed and, in turn, benefit your platform." - Amada presented
User Experience: The Bridge Between Product and User
The discussion then shifted to the critical aspect of user experience:
Dorothy stressed the need to balance ease of use with cutting-edge technology. She emphasized the importance of designing products that are intuitive and cater to user needs. Additionally, she highlighted the importance of considering tokenomics and community incentives to foster engagement and loyalty.
"Your product needs to be easy to use and understand, even for users who are new to Web3. But don't sacrifice innovation for simplicity – find a way to balance both." - Dorothy said.
Benjamin emphasized prioritizing user experience while maintaining robust security and compliance. He highlighted the importance of offering educational resources and support to new users to ensure a smooth onboarding process.
Amanda focused on providing a seamless trading experience with robust security features. She also emphasized the importance of offering a variety of educational resources and customer support to address user inquiries and concerns. Furthermore, she highlighted the need for seamless integration with global financial markets and traditional institutions to facilitate broader accessibility and adoption.
Facing the Challenges: Navigating the Web3 Landscape
No discussion on Web3 would be complete without acknowledging the inherent challenges and setbacks:
Dorothy acknowledged the difficulty of identifying true product-market fit within a fast-moving industry. She also highlighted the need for balancing innovation and user needs, and adapting to market changes and competitor actions.
Benjamin acknowledged the challenges of navigating a rapidly evolving regulatory landscape. He emphasized the need for managing risk and ensuring the security of user assets, while keeping pace with the relentless innovation and technological advancements in the Web3 space.
Amanda highlighted the struggles of attracting high-quality projects, maintaining a competitive edge in a crowded marketplace, and navigating the complexities of regulatory compliance and legal uncertainties.
For those want to have access to the recording, it is at: https://twitter.com/i/spaces/1MnGnMoogMBKO