🚪 How to build product in web3
A collection by Mac Budkowski
We're excited to share that we've now launched! 🚀 Frontdoor is an AI librarian that lets you curate knowledge on the internet, automatically organise it, and explore a rabbit hole of content from the best builders around you
We're gifting some pretty special NFTs 👀 to our earliest curators - join the club: https://www.frontdoor.xyz/
For those of you who don't know, Mac Budkowski is the creator of the podcast- Web3 Talks. It's a product focused podcast where he interviews web3 founders to find out: How they built their product, What worked and What didn't.
He also works as a consultant for web3 projects and helps them in growth, product & biz dev. You can also check his free guide titled 'How to explain what your web3 product does and convince users to try it'.
Heres what he gave us 👇
1/ @Sebaudet26 - The trick to building great products in web3
Easiest trick to build great products in web3 is to actually be a user. Not an investor. Not a speculator. Just an active user. You'll probably stumble on hundreds of problems with great product potential.
Crazy how many people fail at this step.
— sΞb ⚡️ (@sebaudet26)
May 27, 2022
Mac: This mini-thread by Seb covers a simple yet powerful truth.
2/ @pedrouid on product design
"You should literally write down every single step that the user needs to take before you even design or develop code."
@pedrouid on @WalletConnect product design process
— Web3 Talks: Stories & Tips from the Builders (@web3talks)
Jan 7, 2023
Mac: Pedro Gomes shares the product design process they use in WalletConnect
3/ @ranjan3118 on the Farcaster ecosystem
The quality of ecosystem apps built on your infrastructure is dependent on how good a product builder you yourself are.
This is the reason why I'm bullish on apps that are being built on @farcaster_xyz
These builders will be well guided by the Farcaster team themselves.
— Ayush Ranjan | Huddle01 (@ranjan3118)
Sep 17, 2022
Mac: If you want to convince people to build on top of your protocol or ecosystem, you should show them amazing MVPs you built yourself. They will draw users to your ecosystem, making it more attractive and inspiring the next builders to tap into that userbase.
1/ Josh Elman: “How will they make money?” is the wrong question
Mac: Founders & PMs are often trying to monetize their consumer products, and Josh Elman (who managed products at LinkedIn, Facebook, Twitter, Robinhood & Apple) shares his unorthodox framework for thinking about this problem.
🤖Frontdoor Summary: The article emphasises that the primary challenge for large consumer networks is not how they will make money, but rather how they will become long-standing, durable networks and define new behaviours or verbs. The author considers four key questions to evaluate whether a network is durable or just a passing fad: 1) Is there a new behaviour that can attract 100M+ users? 2) Is the product evolving to increase user engagement and commitment over time? 3) Will the growth be sustainable? and 4) Can the key behaviours be monetised at scale? The author argues that once a network can answer these questions positively, monetisation will likely follow, making high valuations worthwhile.
2/ Jason Shah: A product manager's guide to web3
Mac: Comprehensive PM’s guide highlighting the differences between building in web2 and building in web3.
🤖Frontdoor Summary: Web3 product management differs from traditional product management in three ways: it's more versatile, more art than science, and more public. PMs are not yet common in web3, and most successful web3 projects do not have PMs. In web3 0-1 phase, PMs are not as necessary, and the core skills required for web3 PMs are different. However, there are situations that create a need for a PM in web3 startups, such as when engineers become inefficient, the product experience is complex, or there's a mix of externally facing activities that a versatile PM can handle.
Web3Talks #38: Colin Armstrong
Mac: In this episode, Colin Armstrong, Founder & CEO of Paragraph, tells how they developed their product used by 5k+ creators. It’s a great story since it shows how starting with web2 features and integrating web3 on top of them might be the right way to build.
Want to find out more? You can find Mac at the below links
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