The Token Takeover

Summary: Navigating Fundraising and Incubation for Web3 Startups

Major Themes:

• Incubation and Fundraising Strategies: The discussion offered valuable insights into how developers and startups can approach incubation and fundraising. For developers like 1208 AM, who have developed a product and secured partnerships but are seeking investment to scale, incubation programs were recommended as a viable path. These programs can provide the necessary support, resources, and networking opportunities to take projects to the next level.
• Community Engagement and Network Building: The importance of community engagement and network building was emphasized. Participating in relevant communities, such as Game7, can lead to meaningful connections, partnerships, and potential investment opportunities. Sharing stories, experiences, and seeking advice within these communities can open doors and provide valuable guidance.
• Product Demonstration and Market Fit: It was suggested that having a playable demo or beta version of a game can significantly enhance a startup's appeal to incubators and investors. Demonstrating engagement metrics, player retention, and the potential for growth can be more convincing than merely presenting an idea. Thus, startups should focus on showcasing their product's value and market fit to attract investment.
• Grant Applications and Chain Partnerships: Startups are encouraged to explore grant applications and partnerships with blockchain platforms. While the bear market has made securing grants more challenging, presenting a developed product and clear partnership benefits can improve the chances of receiving support. These grants can provide crucial funding for further development and scaling efforts.
• Investor Relations and Expectations: Understanding the dynamics of venture capital and investor expectations is crucial. Startups should seek investors who offer not only financial support but also strategic value, such as industry expertise and networking opportunities. Being transparent, honest, and aligned with investors' goals can foster long-term partnerships and support subsequent fundraising rounds.

Actionable Takeaways:

• Explore Incubation Programs: Startups at the cusp of scaling should consider applying to incubation programs that cater to their industry and goals. These programs can offer mentorship, resources, and exposure to potential investors.
• Engage with Communities: Actively participating in relevant communities can lead to partnerships, advice, and investor connections. Sharing progress and seeking feedback can also validate the project's direction and appeal.
• Demonstrate Product Value: Prioritize creating a playable demo or beta version to demonstrate the game's potential to investors and incubators. Focus on metrics that showcase engagement, retention, and the game's unique selling points.
• Pursue Grants and Partnerships: Continue applying for grants and seeking partnerships with blockchain platforms. Tailor applications to highlight how the project aligns with the grantor's objectives and the mutual benefits of a partnership.
• Build Trustworthy Investor Relationships: Seek investors who align with the startup's vision and can provide value beyond capital. Be transparent about the team's commitment, the project's status, and realistic projections to build trust and secure long-term support.

This session provided a platform for discussing the intricacies of fundraising and incubation in the Web3 space, emphasizing the importance of community engagement, strategic partnerships, and demonstrating product value to secure investment and support for growth.
https://game7.io/
https://twitter.com/G7_DAO

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Summary: Gala Games - Opening the Gala Chain for Web3 Game Development

Major Themes:

• Accessibility and Support for Indie Developers: Gala Games emphasizes the importance of making Web3 game development accessible to indie developers, not just large studios. With the opening of the Gala Chain, developers can now bring their games to a supportive and established Web3 ecosystem without needing extensive blockchain knowledge. The platform offers tools and support to facilitate the development process.
• Technical Advantages: The Gala Chain provides significant technical benefits, including no gas fees, high customization, and the ability to handle high transaction volumes. The platform's SDK, written in TypeScript instead of Solidity, aims to lower the barrier to entry for Web2 developers transitioning to Web3 by allowing them to work in a familiar programming language.
• Community and Ecosystem: Gala Games has a vibrant community that indie developers can leverage for testing, feedback, and player acquisition. The platform plans to create a centralized arcade-like space where community members can discover and play games built on the Gala Chain, fostering a collaborative and supportive environment.
• Monetization Opportunities: Gala Games encourages developers to self-fund through the sale of NFTs, in-game items, and nodes. The platform's node system not only helps reduce server costs by distributing game hosting across the community but also serves as a revenue stream for developers.

Actionable Takeaways:

• Engage with the Gala Chain Community: Developers are encouraged to join the Gala Games Discord and engage with both the community and the Gala Chain development team for support, networking, and collaboration opportunities.
• Leverage Available Tools and Resources: Indie developers should explore the Gala Chain SDK and documentation to understand how to integrate Web3 features into their games efficiently. Utilizing the provided tools can save time and resources in the development process.
• Consider Monetization and Funding Strategies: Developers should plan their monetization strategies early, considering the sale of NFTs, in-game items, and nodes as potential revenue sources. Being flexible and open to adjusting your game based on feedback and market demand is crucial.
• Focus on Planning and Flexibility: Effective planning and a flexible approach to development are key to success in Web3 gaming. Developers should continuously evaluate their game's direction and be willing to pivot or make adjustments based on community feedback and testing results.

Gala Games' initiative to open the Gala Chain for all developers marks a significant step towards democratizing Web3 game development, offering a platform that combines technical accessibility, community support, and monetization opportunities for indie game creators.

https://twitter.com/GoGalaGames

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Major Themes:

• Founder's Journey and Community Building: Justin, the co-founder of Safary, shared his journey from entering the crypto space in November 2021 to establishing Safary. Initially aiming to develop a DAO tool, they pivoted to focus on building a community of Web3 growth leaders. This community-first approach led to the realization of the need for better tools to serve the Web3 growth industry, culminating in the creation of an attribution tool akin to "Google Analytics for Web3."
• Challenges and Opportunities in Web3 Growth: Safary addresses critical gaps in Web3 marketing by providing insights into which marketing channels drive tangible results. This attribution tool helps Web3 companies measure the effectiveness of their marketing strategies by linking off-chain activities with on-chain outcomes, a crucial advancement given the complexities of tracking conversions in the decentralized web.
• Safary's Evolution: Starting as a community, Safary evolved into a research hub before developing its own Web3 analytics tool. This progression highlights the importance of understanding community needs and leveraging insights to build practical solutions. Justin's journey underscores the value of adaptability and direct engagement with your target audience to refine and develop relevant products.
• Community-Led Growth: Justin emphasized the significance of building small, intimate communities where real connections are fostered. He shared insights on scaling communities slowly to maintain quality interactions and the importance of founder involvement in community engagement. Safary's approach to community building, focusing on relationships and personal connections, serves as a model for Web3 projects aiming to cultivate a dedicated user base.
• Fundraising Insights: Although the conversation didn't delve deeply into Safary's fundraising journey, it was hinted that Safary successfully navigated raising capital in a challenging bear market by initially gathering support from angel investors. This strategy demonstrated the power of showcasing a strong network and unique market insights to secure significant VC backing.

Memorable Quotes:

• "We built a community first and then evolved into doing research and building tools for the Web3 growth industry." - Justin
• "Community building in Web3 is about fostering real connections and engagement, not just amassing large numbers." - Justin
• "Our attribution tool is like Google Analytics for Web3, bridging the gap between off-chain marketing activities and on-chain results." - Justin

Actionable Takeaways:

• For Web3 Founders: Consider adopting a community-first approach to understand your audience deeply and identify the tools and solutions they need. Engage directly with your community members to build lasting relationships and gather valuable insights that can guide your product development.
• For Marketing Professionals: Explore and leverage analytics tools designed for the Web3 ecosystem, like Safary's attribution platform, to optimize your marketing strategies and ensure your efforts contribute to tangible outcomes.

Safary's journey from a community initiative to a pioneering Web3 analytics platform underscores the importance of listening to your audience, iterating based on feedback, and the transformative power of community-led growth in the decentralized space.
https://www.linkedin.com/in/justin-vogel/
https://twitter.com/Safaryclub

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Summary: SKALE - Enhancing Web3 Gaming Infrastructure

Major Themes:

• User Experience and Scalability: Dante from SKALE emphasizes the network's focus on user experience and scalability. SKALE offers zero gas fees, instant finality, super low latency, and nearly unlimited scalability. These features enable developers to create "invisible blockchain experiences," where the game feels like a traditional web 2.0 game but leverages the benefits of blockchain technology.
• Multi-Chain Support: SKALE supports a multi-chain approach without requiring exclusivity from developers. This approach encourages developers to choose what's best for their projects, allowing them to target both web3-native users and traditional gamers.
• Community Engagement: SKALE has seen significant growth, with around 10 million active wallets and tens of millions of transactions each month, largely driven by its gaming ecosystem. The network's growth is attributed to its ability to offer a better, more user-friendly experience for gamers.
• Technology Infrastructure: SKALE'S infrastructure is designed for user-friendly blockchain experiences, enabling features like NFTs, in-game transactions, and on-chain leaderboards without the complexities often associated with blockchain gaming.
• Grants and Support: SKALE offers a unique grant program aimed at subsidizing costs for developers and supporting user acquisition. Unlike other networks, SKALE's grants are focused on long-term sustainability and growth rather than short-term incentives.

Memorable Quotes:

• "SKALE really specializes in helping developers create experiences that look and feel exactly like a web 2.0 experience while still being able to have all the inherent benefits of building on top of a blockchain." - Dante
• "The experience that SKALE enables is one where friends and family who have never touched a blockchain before can come on and experience your game...without needing to know what bridging or a wallet is." - Dante
• "The people that are going to succeed are the ones that are able to obfuscate blockchain out in the background and allow the users to just come in and play the games." - Dante

Actionable Takeaways:

• Consider SKALE for Web3 Gaming Projects: Developers looking to create user-friendly blockchain games should consider SKALE's infrastructure, which supports scalable, zero-gas-fee blockchain applications.
• Leverage SKALE's Grant Program: Explore SKALE's grant program for support in development costs and user acquisition strategies. SKALE's approach prioritizes sustainable growth and developer success.
• Embrace a Multi-Chain Strategy: SKALE encourages a multi-chain strategy for projects aiming to reach both web3-native and traditional gamers. This flexibility allows developers to tailor their projects to diverse audiences without being restricted to a single blockchain ecosystem.

This episode of the Token Takeover podcast offered insights into SKALE's approach to enhancing the web3 gaming experience, highlighting the importance of user-friendly blockchain applications and the benefits of SKALE's supportive ecosystem for developers.

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In this episode of the Token Takeover Podcast, I share a conversation with Batis Samadian, Co-Founder of OMA3 a collective building global standards for Web3 metaverses.
OMA3 is working collaboratively with the largest brands in metaverse gaming to establish asset, security, and interoperability standards that will act as the cornerstone of tomorrow's internet.
You can now watch this episode as well as listen! Check out my Youtube channel
https://www.youtube.com/channel/UCEk4_UVuQwUxRWblJoOKAJw
Links:
https://twitter.com/oma3daohttps://www.oma3.org/https://www.oma3.org/#members https://www.linkedin.com/in/batissamadian/details/experience/

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