WCP04 - Erez ben-kiki @ Dcentralab - Up Only from Here!

The big challenge of building a long-standing business in #Web3

If I would have to name a single characteristic that would help me determine if a Web3 Project will endure a rough bear market (like the one we are living through right now) and thrive during the Bull Market, it would without a doubt be RESILIENCE!

We may think we know what people want, but the reality is we never truly know. Everyone of us has his/her unique life experience and understands the world differently. Here is when VALIDATING AN IDEA is a crucial part of building a successful Web3 business. And this is no trivial feat, hence why we see so many copy-paste projects of Ideas that have been validated by the market.

Here is the story of my friend and great entrepreneur Erez Ben-Kiki, founder and CEO of Dcentralab. Initially, he built 2key out of an understanding of where the referral and peer-to-peer marketing were going, and although he was right on the approach, he didn’t account for the rising gas costs on Ethereum making his business not sustainable.

Learning from his experience and taking a new approach, he went on to build tools that would help his company improve its product and grow its tech stack, and there is where the magic began happening.

They since have gone out and built Hord, TokensFarm, and Chainport, which still remains one of the largest inter-blockchain Bridges by TVL (Total Value Locked). The difference now? The approach they’ve taken into building those. They first identified THEIR OWN need for similar tools, and then examined the cost of acquiring these as stand-alone services or building them themselves. After they reached the decision to build it themselves, the natural next step was to package the products and offer them to other projects in the space.

If you want to learn more about what it means to be a RESILIENT, ADAPTIVE, and SUSTAINABLE Web3 Company, you can’t miss this new Web3 Creators Podcast Episode we joyfully named “Up Only from Here”

Enjoy, and please please leave me a comment so that I also learn how to build a better Podcast for YOU.

Love <3 and Gmar hatima Tova (Good end of signature)

H3rnan