Entering the exciting world of Web3 is no small feat. According to Coresignal, Europe alone is a base for nearly 6,000 new blockchain companies, whereas North America is home to 5,000+ newly founded Web3 ventures.
In addition to the impressive competition, the barrier to entry only rose over the years, and it became harder for new players to enter the market.
One of the core challenges for new Web3 startups is the launch. In this article, we will overview the key steps in the process and how to make sure your first steps are successful.
Managing Web3 projects and strategizing marketing for blockchain companies. Delivered 120+ creative solutions for tech businesses in the past 2 years.
Before going into the details of how to launch a Web3 project, let’s start by answering this core question. Many Web3 projects invest time and money into extensive Web3 marketing, hire a Web3 PR agency, push their solutions into the market with ads, and only then start to ask questions about why they are here and where they are going.
If you are one of the young and ambitious Web 3 companies, avoid this problem altogether by asking the right questions to yourself and your team early on. The sooner you will figure out what is your mission, vision, and direction, the better community and growth you will find down the road.
Start with defining what problem you are trying to solve for Web3. Don’t just stick to grand ideas about changing the space and don’t plan to market yourself as another leading blockchain startup. Instead, be as concrete as possible. Web3 marketing agency can help you with refining and polishing your branding and positioning to perfection, but no one will be able to put the idea behind your solution except you.
If you got that figured out, you’re ready for the first steps. Here’s how to launch a Web3 project with your core values and mission in mind.
It won’t come easy at first, but finding or creating a Web3 community that supports and believes in you is the central piece of your launch that you should always have in mind, even as you are working on the other components on the list.
Community marketing is not simply about an outreach campaign – in Web3, it helps you scale, fundraise, and create your solution from the ground up.
In a blockchain-based space, where the network relies on multiple stakeholders and individuals investing time and money to support the Web3 infrastructure, you need people, not companies on your side.
Whether you are a B2B project or a startup targeting your users directly, you’ll find that the people you are building for are your greatest asset and support at the same time.
They can help you address your challenges, guide your development, and even fundraise. Whatever you are doing – a PR campaign, NFT design, or Web3 marketing – make sure communities are at the forefront of your decisions.
Consistent and engaging Web3 marketing will be the stepping stone for your launch. No one will find out about your solution if you don’t market it properly, and passionate communities don’t emerge on their own. As we already established, no proper community equals zero progress.
From social media presence to content marketing to crypto PR, every detail matters, and it might be challenging to hit the ground running when you are just starting out. As a young project, you might not be at a stage where you get an in-house communications team to take care of your marketing needs.
In this case, turn to experienced professionals in your niche, leverage their expertise to get the best results, and get your startup the exposure it deserves. Choose according to your needs: it can be a blockchain PR agency, a Web3 design company, a top platform to connect with crypto influencers, or something entirely different.
There is only so much you can say about your Web3 product or service via social media posts or press releases. A whitepaper essentially acts as your business card to anyone interested in your Web3 project: investors, curious users, potential customers, and the wider blockchain community. Publish it along with your token release or prepare and share it in advance to spark interest.
Here, your goal is not to reverse engineer how your product works. Instead, introduce your solution and pitch it to your readers as you would to your investors, dedicating equal attention to technical details and your potential. That way, they can actually see how you stand out from other Web 3 companies. Chances are, this is actually going to be a document that decides whether you will get funding or not.
Funding and investing are the key steps in a Web3 launch. Since 2018, the landscape for raising funds has changed quite a lot; in 2022 alone, Web3 leads funding activity in the venture capital space globally, according to Decrypt.
For a successful fundraising strategy, it is essential to have your idea backed by real-life proof: show that you have a growing community or the potential for one, market your solution, and have the resources to explain your product, including a whitepaper and a professional pitch deck.
With key steps in mind, you are now ready to launch your Web3 projects into the great wide world. No advice is universal and every startup journey is different, but these key steps outline the main milestones for a successful launch.
At LKI Consulting, a London-based Web3 marketing agency with 7+ years of experience in scaling Web3 startups, we know exactly what to do to start off strong in the blockchain space. Read more about how we can help here.
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