Crypto bear The market shows no signs of letting up and the pound has taken its toll on more than a few emerging web3 and crypto projects, not to mention killing them.
While there are no clear signs of a meaningful resurgence on the horizon yet, Web3 companies that manage to do so must prioritize convincing their communities and investors how they can survive, especially if their projects are found. Struggle to stay afloat.
Maintaining the user base is critical to maintaining the expansion that many Web3 companies need to pull through in this bear market. Potential investors and new users need to see from the outside whether the community is choosing to stay, or better yet, grow their relationship.
Startups that can demonstrate strong metrics and a responsive consumer base are more likely to survive, but that’s not where every startup is right now. For those in a difficult position, good communication is non-negotiable. There’s little point in declaring the sky is falling and pleading with your community to invest, but an overly rosy look won’t fool anyone.
Communicate to your community that you are not only in this together, but working with the industry at large.
Here are some strategies to find the balance
Lead with the positive and spread your road map
It’s important to communicate that your startup understands the reality of the market and doesn’t see cold, hard truths. But part of understanding the market is knowing that a downturn isn’t permanent. This is by no means the end of crypt or web3. Adoption trends remain promising through 2030.
In the year Compared to the previous crash in 2018 and 2019, the decline has some downsides. NFTs have more traction than they did then, and they’re surviving. Luxury and legacy brands continue to explore their options in them, and trend growth has not stopped.
