A web3 company is a business that provides products or services based on the concept of decentralization, in which users own their data, blockchain is used for transaction transparency, and the activities of such businesses are coordinated by DAOs (Decentralized Autonomous Organisations).
A web3 founder is someone who establishes a web3 company. They are responsible for conceiving, creating, and building their businesses from the ground up. Founders frequently have a clear vision of what they want to achieve and how they intend to achieve it.
Founders are crucial in shaping the culture of their organizations. They set the tone for how employees should conduct themselves and serve as the company’s face when interacting with customers or other stakeholders. So, what can you learn from the top web3 founders?
Leadership
Leadership is valuable because it entails responsibility and accountability. People typically consider becoming leaders because it places them in a position of authority, but many fail to recognize the importance of taking ownership.
Having a good Web3 founder with leadership skills is critical to ensure that all team members honor the project’s values, meet common goals, and follow a clear direction.
An interoperability mindset
Web3 technology is gradually taking over the internet at the moment. As a result, maintaining a traditional mindset within the blockchain & content creator economy space is counter-intuitive.
One of the essential qualities of an excellent Web3 startup founder is an interoperability mindset that allows him to see things from a holistic perspective and aims to add value to the crypto ecosystem instead of causing division.
For example, a founder with an interoperability mindset would create a layer two blockchain rather than a new one.
The DEIP project is a modern Web3 example of how interoperability is valued — DEIP is an ecosystem that combines unique and existing technologies to provide an inclusive Web3 experience.
Adaptability
The applied blockchain industry is rapidly growing and changing. A Web3 founder must be ready and willing to make the essential changes to make a project succeed and survive.
For example, Ethereum is the most popular smart contract platform because it is the largest and has the most features. However, because its gas fees have risen to unappealing levels, using an ERC20 token for interactions within a project is no longer recommended.
An adaptable Web3 founder would avoid this by launching their project on other blockchains or layer 2s, such as BSC and Polygon — this is more efficient than waiting for Ethereum 2.0 to release and lower gas fees.
Emotional intelligence
Many things can go wrong during a project. In a Web3 project, more things can go wrong. Web3 is still in its early stages, with few solid use cases or frameworks. Having said that, trial and error may be unavoidable in a web3 project, and a good Web3 founder must be able to deal with frustration and patience.
Emotional intelligence is like a litmus test for determining whether a startup founder is mentally prepared to take on a project. Emotional intelligence is a characteristic that allows founders to act and communicate effectively under pressure.
Because communication is critical for a startup’s long-term success, a calm founder reduces miscommunication.
Always up for learning
A founder of Web3 must constantly absorb new information, ideas, and concepts. Blockchain business ideas and protocols are being created quickly, and being ready to learn about these can give you a potential advantage.
A founder who is set in their ways can stymie the evolution of a Web3 project. To stay ahead and understand the current state of the crypto world, good Web3 founders should be willing to learn continuously.
Conclusion
That’s all about web3 founders’ skills. The final overview of web3 based on the top web3 use cases demonstrates how it can completely change internet experiences. Web3 has a lot in store for the entire world, from DAOs to the metaverse and Defi. While some web3 use cases have already begun to make an impact, others are still in the works. Contact SmartOSC if you need help with blockchain development services.
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