Web3 Project Planning: Tips and Resources to Get You Started (Part 1 of 2)
If you have dipped your toes into understanding Web3 and have decided that now is the time to get started, you need a strategic plan. There is much to learn and understand. While there are several ways to begin your first project, in my experience, these are some of the primary research and to-dos you should do first to have a strong foundation.
In this 2 part series, I cover a few first steps to consider when starting your new Web3 project. I listed some resources to check out to help spur your creativity.
Start with an existing business
The success of any project comes if you have people who already know you and your products/services. You want to apply Web3 concepts to:
1.) Attract new customers/clients
2.) Enhance and retain existing customers/clients.
The trust you have created with your existing customer base will give you better feedback and allow for greater success when you introduce something new.
Get a crypto wallet
The first step is to open a crypto wallet that you own and control.
While many Web3 platforms make it easy to get started with wallets by building them on behalf of their customer, owning a self-custody wallet allows for more flexibility, control, and security.
You will want to learn how to create one, how to stay safe, and how it works. This experience will also help in the future as you onboard your customers with their first wallets.
There are many wallets to choose from, and they all have unique benefits and features. Metamask, Coinbase, and Ledger are some of the more popular choices, and all have great tutorials to get you started easily. Ensure you use the official company links when searching for these companies. To learn how to stay safe with using wallets, here are some great resources:
Get Started with Digital Wallets
Why Mobile Wallet Hardware is the Key to Web3 Adoption
Determine your goal
What is your purpose? Start small and build from there. The easiest way to apply Web3 concepts to an existing business is through either proof of attendance, loyalty or membership programs, awards, or ticketing. With these programs, your customers are familiar with learning and adapting to new technology.
Here are a few resources for you to learn more about the benefits of using Web3 concepts in these areas:
Going Digital with Awards & Certifications
Starbucks Odyssey Reward Program
Loyalty Programs of the Future
Once you have decided, it is time to sketch out the details of what you want to offer. Many different types of platforms and dApps can help you with this process.
Using blockchain technology creates a universal system for you to build your project and to share with others. A membership, loyalty, or ticket NFT can not only be used within your community but in other’s as well. For example, a winery could cross-promote their NFT memberships with other surrounding wineries. The same winery NFT could unlock a VIP experience with a concert or cooking class. Creative uses are endless.
Bring your customers together in a community
Web3 is all about community. How you communicate with your customers and give them a way to interact with each other is critical for the success of your Web3 project. You want word-of-mouth marketing, feedback, and idea generation from your biggest fans.
There are many options available to gather your customers together online. While we are all used to Facebook groups, LinkedIn, Twitter, and other Web2 social media platforms, these have one significant downside - you don’t own your content or followers. Instead, look to community platforms that allow you to take your people with you no matter where you go.
I spoke with Chris Koronowski to get his input on building community and some of the tools available. He manages Web3 Doers, where thought leaders, content creators, and founders come together to discuss topics surrounding Web3.
Chris and I discussed the different features to consider (along with price), including ease of use, organized channels/spaces/rooms to hold specific discussions, live stream video calls, chat features, and file storage. Token-gating is also essential to close off certain areas (or even the entire community). The only way to gain access is through owning a specific token.
Discord has become the most popular place to build a Web3 community. Because of its popularity, you can join many communities and view all of them in one place. However, it is overwhelming for someone new as they get started.
Here are a few other options if you are looking for an alternative to Discord:
Nas.io: Chris uses this platform for Web3 Doers. From an admin perspective, he likes how the platform simultaneously allows sending messages across all other platforms (Discord, LinkedIn, email, etc.). He uses Nas.io to push out event invitations and have an area to store documents and video replays. The platform takes a small fee if you charge for memberships or digital products.
Geneva: Geneva organizes into rooms for specific topics and discussions. Individual rooms or your entire community can be token-gated with NFTs. You can join other Geneva communities and view them all on your dashboard. Members will need to use the app since it isn’t connected with the more popular social media platforms.
Circle: This powerful community platform has all the bells and whistles to organize, connect, and manage your community. Hosting live stream events, digital courses, chat, and discussions can all be done inside the app. There is a monthly subscription with different tiers depending on your needs. One big downside - you can not token-gate with NFTs.
GM.xyz: GM is an all-in-one social network for chats, forums, and voice channels. This platform is not as robust, but one unique feature is that you can share revenue with creators. It is Web3 native, and you can token-gate the community and showcase your NFTs. Because it is a new platform, onboarding members will have a big learning curve.
Conclusion
Starting a new project in Web3 is exciting and can be very overwhelming. So many tools, communities, and people in this space can support your efforts and provide the education needed to complete a successful project.
In Part 2, I’ll discuss creating a plan and how to use your community to receive feedback and support.
If you are interested in starting a Web3 project and would like some help, Tokens Square can work with you to brainstorm ideas, sketch a plan, and connect you to the people and resources to help you along the way.
To take the first step, determine what you want to accomplish with your existing customer base and how you will communicate with them, and open your self-custody wallet. Then the fun begins!
