GM Alpha Creators 💎
$SPX $9M -> $158M -> 17X ✅
Product market fit of @altcoinist
1️⃣ Built a consumer app that helps creators monetize their alpha
2️⃣ Subscribed to one of our early users ( @rbthreek ) to test the product
3️⃣ Applied his knowledge and won massively
Being a Web3 Founder is masochism at its finest...
The secret to staying sane?
Working ON the business, not IN it.
Here are 7 tools I use at my company @altcoinist to keep our 15-man team running efficiently... 🧵
Altcoinist Video Guide by our CEO @andzberg
How to onboard as a Creator:
1⃣ Sign up with your X
2⃣ Create/connect a Smart Wallet
3⃣ Link Altcoinist to your Community
4⃣ Set up your onchain pricing
Finally, share your Altcoinist Link and start monetizing! @jessepollak@base
$FRIEND ALMOST cracked #SocialFi
(connecting Social Media + Onchain Finance)
The good:
They launched an app to bring Creators & their Followers closer.
Market feedback: 400k users in 2 months,
$626M total inflow, $230M market cap ATH
The bad:
1. They chose the "Easy Path"
➡️ @friendtech focused only on virality and lacked sustainability and a solid economic backbone
2. Misaligned incentives between Creators and their Community Members:
➡️ No recurring Revenue for Creators
➡️ No recurring value in Private Communities...
3. Lack of product development post-launch
➡️ V2 (rightfully) failed to meet the expectations
4. Lack of Interoperability with 3rd party apps
➡️ The option to host your Private Communities in Telegram or Discord would have greatly helped user acquisition and retention.
5. Overextended Points farming, users exhausted
➡️ Like 8+ months in crypto... come on, your users are not David Goggins...
6. "Good content" pre-TGE, goblin content post-TGE
➡️ Strong content right before TGE, at that time, they dominated the attention game, even though there were super controversial tweets
7. Underutlized Brand, not highlighting Creators and their Success
➡️ One of the greatest things in SocialFi is that your users (Creators) are the driving force behind the Attention Economy, with infinite content potential
8. Undoxxed Team
➡️ They rugged their project...
------------------------------------
All in all, with a better team (and intentions..) , they could use the first-mover advantage, their backing, and huge social traction to build the first billion-dollar SocialFi consumer app.
What's next?
Social Media + Onchain Finance throne remains untaken...
Let's see where choosing the hard and slow path led us with @altcoinist ...
Our smart contract dev, Silur (ex-eth core dev), sent me a solid article about Ethereum/Brand/Community.
1-9-90 Community Building:
◾️ 1% devs, builders, teams, those who create
◾️ 9% CONTENT CREATORS, researchers
◾️ 90% Speculatooors, Traders, Degens
"All of these groups are important, in isolation, they all slowly die."
-----------------
Couldn't agree more. That's exactly why we at @altcoinist have a totally different approach to brand building than 99% of crypto projects.
We know how important that 9% is.
(In fact, we built something for the 9% who drive and dominate the Attention and Value flow of Crypto.)
So, the key takeaway is that you cannot tunnel-vision build the tech alone. You need to find your voice and approach the rest of the players. You're doing an especially good job if you can build a strong relationship with the 9% who'll create the content around your project.
Tech is gud, but Tech + CULTURE is king.
@base@ivangbi_
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