Wenser

Hello, welcome to wenser's #web3 column.

In the world of web3, everyone has the heart to create projects. After all, project teams are considered to occupy a higher ecological niche in the web3 field. However, doing a project is like embarking on a journey to the West; one will inevitably face "81 difficulties," with countless obstacles and dangers along the way, all of which can become roadblocks to project development.

To obtain the "true scriptures," one naturally needs to overcome hardships and challenges, whether through sheer strength or cleverness, there must be a way. This is a "little method" I have personally observed, thought about, and summarized; I welcome your feedback.

I call this "little method" the "Nine-Tier Tower Development Model"—first, because a concrete model is easier to understand; second, because in my view, doing a project is like climbing a high tower, with each step presenting new risks and challenges; third, because in the end, doing a project can easily lead to "the higher you go, the colder it gets": there is no clear path ahead, only broader and more expansive horizons waiting for some to explore and pursue.

Without further ado, let me share my thoughts—

First Tier: Vision#

1. What is Vision?#

Vision is mission, it is goal, it is the ultimate purpose.

At the beginning of a project, it is likely just the emergence of one or several ideas: NFT, DeFi, GameFi, SocialFi, DAO, etc. Without the initial spark of inspiration and grand aspirations, many projects would not come into existence.

The size, quantity, and nature of the vision depend on how the initial person conceived and planned it.

2. How to Set Vision?#

In my opinion, vision setting should be considered from the following aspects:

1. Does it have commercial viability (how long until it can make money, where does the money come from, can it sustain profitability)?

2. Can it bring about new changes (for individuals, organizations, industries, fields, or even the entire system or world)?

3. Can it occupy a certain ecological niche (i.e., possessing irreplaceability, originality, innovation, and attracting specific groups)?

3. Vision References?#

In this regard, I recommend referring to the visions of two DAO organizations: Bankless DAO and Nation3 DAO.

Second Tier: Team#

Investment is about people, and the importance of the team in project development is self-evident.

In my view, the principles of team composition mainly include the following:

1. No Weak Links#

A mature team does not need every member to be exceptionally strong, but it must not be "missing arms and legs." Management coordination, technical development, market operation, community governance, financial administration, etc., should aim to avoid any weak links.

Of course, in recent years, we have also seen a phenomenon of the rise of super individuals, where one person can take on many tasks and achieve results in the short term. However, this is not necessarily a good thing for a project.

Relying solely on individuals to drive things will inevitably lead to the awkward situation of "human resources being finite." Do not rely on personal charisma to run a project; believe in the power of mechanisms and systems, supplemented by the efficient promotion of key individuals, as this increases safety.

Moreover, it can also counteract the evils and greed of human nature.

2. Mutual Support#

No weak links are a basic requirement for the team; on this basis, team members need to support each other as much as possible, not only in terms of abilities but also in coordinating, communicating, and mobilizing resources throughout the project.

Support is not about random assistance but striving to achieve "1+1>2"; otherwise, it is better to have clear divisions of labor and responsibilities.

3. Co-evolution#

For a team that truly wants to create a good project, if it cannot achieve co-evolution and progress together, it is certainly an unqualified team—truly good teams grow continuously through collaboration and synergy, whether in abilities, vision, mindset, resources, or networks.

Otherwise, those who cannot evolve together cannot share the fruits of victory together.

Third Tier: Technology#

Regarding technology, I am an outsider, so I will simply emphasize three points:

1. The strength of technology determines how far a project can go;#

2. The lower limit of technology is the image baseline of a project;#

3. Technology is the heart and brain of a project; without technology, there is no project.#

Fourth Tier: Marketing#

Many people believe that web3-related projects are all marketing-driven because, in the crypto field, marketing success is essential for project success, and this should remain a consensus for a long time.

The reason is simple: web3 projects require "attention resources" more than web2 projects, products, or platforms. In fact, the term attention economy is no longer sufficient to describe the development model of web3 projects; I summarize it as "attraction economy": In simple terms, your project not only needs to attract attention but also needs to be appealing to others.

How to do project marketing? My views are as follows:

1. Decision Path Marketing#

Scholars Petty and Cacioppo summarized two types of human decision paths: central decision path and peripheral decision path—the former is often used for bulk commodity consumption or major decisions, where people need more time, comprehensive information, stronger motivation, and more robust trust to make decisions, such as buying a house or a car; the latter is used for everyday consumption or trivial decisions, like buying a bottle of water, a pen, or a small appliance, where people make decisions based on positive or negative peripheral cues.

Therefore, if your marketing goal is larger, heavier, and involves higher engagement, you need to find ways to make people clearly recognize the value, benefits, and problem-solving importance of your project or product through multiple channels and repeated touchpoints; conversely, you only need to provide peripheral cues or information, cultivate or change people's habits, or emphasize price advantages and differences to deepen marketing impressions.

2. Conceptual Marketing#

In simple terms, this type of marketing focuses on "concept guidance," continuously using new concepts to create a sense of mystery, anticipation, and FOMO, such as Frank, People DAO, MOON DAO, WE ARE ALL GOING TO DIE, Goblin Town, Shitbeast, etc.

Conceptual marketing is about "playing tricks"—it cannot be judged by common sense, nor can it operate like conventional projects; instead, it should showcase its "clever maneuvers" and be different from others, such as "appreciating ugliness," "viral marketing," "rumors," "riding trends," "leveraging celebrities," "showing gameplay," "showing technology," "showing settings," etc.

What matters is not the content itself but making others feel "impressed but confused," "unable to understand," or "unable to play," while also hiding some "clues." The more unattainable it is, the more people want it.

3. Product Marketing#

Product marketing is more steady and practical; of course, during a bull market, product marketing can often achieve good results, but in a bear market, this marketing approach will face increased pressure. After all, driving marketing through products and getting others to genuinely recognize the value of your product or project is challenging.

In simple terms, this marketing approach is: 1) What type of product? 2) What problems does it solve? 3) Who needs such a product?

Answer these questions clearly, then repeatedly promote, spread the word, and find the corresponding key nodes; breaking through one can open up the situation and find a way out of a desperate situation.

Fifth Tier: Community#

Undoubtedly, during the project development process, more and more people are beginning to recognize the importance of community.

A strong, cohesive community with rich members and high awareness can be regarded as a living force in the web3 world.

Still, it follows a three-step strategy—

1. Short-term Benefits#

In the world, everyone is here for profit; all actions are driven by benefits.

To build a community in the short term, benefits are certainly an important aspect. In simple terms, what can you offer others?

Community members join with the expectation of gaining something, so a project can offer four types of things: people (social relationships); money (financial returns); goods (physical items); spirit (emotional value).

What are you offering community members in the short term?

2. Mid-term Goals#

As the community enters the mid-term, short-term benefits or immediate stimulation will no longer sustain their investment of time, effort, and resources. At this point, a project needs to establish different levels of goals to help community members find—belonging, growth, recognition, and gain.

Mid-term goals can include but are not limited to: financial incentives; social ranking comparisons; team game victories; external connections achieved; witnessing a nurturing system; reaching milestones; and the superiority of community recognition, etc.

3. Long-term Value#

After reaching a certain stage, community members and the community's focus will gradually return to one word—value.

Therefore, if this community fails to create intrinsic and extrinsic value during its continuous growth, development, and gradual expansion into larger areas, it may still have a long way to go.

Intrinsic value refers to the value generated internally within the community that can circulate, flow, and proliferate, such as transactions, exchanges, content output and input, information exchange, product creation, project incubation, etc.;

Extrinsic value refers to the value generated from exchanges with external communities, such as external community cooperation, product usage and feedback, capital flow, attention flow, business model upgrades, ecological energy exchanges, etc.

Without value, there is no community.

Sixth Tier: Brand#

Brand, originally meant a mark, gradually evolved into an intangible asset that can bring premium and appreciation to its owner through the development of language and writing, highlighted and presented through elements or combinations of elements such as text, marks, symbols, patterns, and colors.

If a project can reach the branding stage, it can be said to have already traveled two-thirds of the journey, roughly equivalent to reaching the vicinity of the Small Thunder Sound Temple in the Journey to the West.

The focus of a brand lies in three aspects:

1. Brand Identity#

The most basic brand is just an identity—Laura Ries, daughter of marketing pioneer Al Ries, once proposed the marketing concept of "visual hammer," which is the starting point for a project, organization, or individual wanting to build a brand.

In simple terms, how do you make others:

1. Recognize you by seeing this identity?

2. Remember you (from the first glance)?

3. Have a good impression and deeper recognition of you?

2. Brand Equity#

Evaluating and judging brand equity is a more systematic and complex matter. Many projects indeed do not survive to create brand equity, and the measurement standards for brand equity tend to lean towards subjective perceptions and other intangible assets.

The attributes of brand equity include differentiation, recognition, and overall coherence.

Whether it is brand elements or marketing activities, constructing value chains and specific asset measurement assessments is not an overnight task.

From a marketing perspective, there are two methods for managing brand equity: one is brand reinforcement, which strengthens brand equity through consistent communication of brand meaning; the other is brand activation, more suitable for brands that urgently need change, either returning to their roots or undergoing complete transformation.

This may sound a bit academic, but the main point is—can your project's brand occupy a place in people's minds? Can it have a clear and intuitive brand image? Can it be solidified into a long-lasting, realizable asset?

3. Brand Strategy#

When a brand's equity grows to a certain scale or level, it is time to consider brand strategy, simply put, how many brands does an organization need? (To be direct, it is necessary to consider the relationships between brands.)

A web3 project will gradually grow over time, and after reaching a certain point, it will inevitably face the issue of managing relationships between multiple brands.

Taking Binance as an example, it is not just an exchange; it also has its own public chain, stablecoin, application ecosystem, NFT trading market, and its own investment institutions, external liaison departments, and business entities. These "brands" need to have a hierarchy—some are for attracting new users, some continuously generate cash flow, some build external brand images, and some respond to external competition, etc.

However, not every individual, project, or organization can grow into a brand, and becoming a brand also varies by different levels, different situations, and different time cycles, which is a long and arduous journey.

Seventh Tier: Culture#

After crossing the brand barrier, a project enters the next domain and stage: culture.

To be honest, in my personal view, very few projects reach this stage. The reason is simple: there are few projects that can connect with culture, especially in the web3 field, where many people think, "Everyone is here to make money; don't talk to me about culture; can culture feed you?"—I believe this is the true thought of many.

After the NFT sector became popular, this phenomenon has changed somewhat, but not significantly; people have merely progressed from being completely indifferent to the cultural background and connotations of projects to starting to pay attention to and care about these aspects.

If a project truly wants to break through the cultural barrier, it needs to pay attention to at least the following aspects:

1. Meme#

To create culture, one must first create a meme.

As coined by Dawkins in "The Selfish Gene," the concept of "cultural gene"—meme (also translated as "meme") can be simply understood as a cultural factor or the smallest unit of culture.

Wikipedia explains it as:

"Meme—also translated as media, meme, etc. The most widely accepted definition is an idea, behavior, or style that spreads from person to person through imitation, usually to convey a specific phenomenon, theme, or meaning represented by the meme."

This term was created in 1976 by Richard Dawkins in "The Selfish Gene," comparing the process of cultural transmission to biological evolutionary rules."

Therefore, if a project wants to grow from a brand to a culture, the first step is to become a meme—this is also why the so-called "meme coins" like $doge and $shiba became popular, and one of the reasons why the NFT field is currently caught in a blind, irrational, and inexplicable frenzy.

Because of memes, they become popular; because of popularity, they attract attention; because of attention, they flow; because of flow, they generate value.

2. Circles and Tribes#

When a meme is created, used, and spread, over time, based on one or more memes, different circles and various tribes will emerge or be nurtured: they may share similar interests or have different cultural, educational, and social backgrounds, but they certainly share common emotions, things, and pursuits that connect them, allowing them to link together through relatively convenient, real-time global networks or technologies.

As humanity enters post-modern society, or the future online society, virtual world, or metaverse, the concept of nation-states will gradually be replaced by concepts like circles, tribes, and ethnic groups, which is one of the processes of different cultures emerging.

3. Era Imprint#

When the culture of a circle or tribe becomes strong enough to influence an era, then the era imprint appears.

Just like Coca-Cola became a memory for a generation, the "Lost Generation" became a reflection of a generation, and the "Angry Generation" became the golden age of idealism that countless people yearn for, the past history of BTC and ETH will also slowly condense into imprints, engraved on the monument of time.

On this heavy stone tablet, which is difficult to measure in length, width, and height, countless people are currently and will continue to exert their utmost efforts to leave their marks, even if it is just a faint white spot, it is already an indescribable, timeless, and cyclical shadow.

As the saying goes, a person truly dies when everyone forgets them; the true standard of a project's death or immortality lies in whether it has integrated itself into the vast tide of the era.

The judgment criteria are also simple—1 year later, 3 years later, 5 years later, 10 years later, 20 years later, 30 years later, 50 years later, 100 years later—will anyone still remember it, remember the slightest change or constancy it brought?

Eighth Tier: Economy#

In the Nine-Tier Tower, we have reached the eighth tier, which is the economy.

Many might think this tier should come before culture or even community, as all web3-related projects inherently carry financial attributes, and on the economic level, breakthroughs are naturally needed, especially in terms of tokenomics, which should be planned early in a project's life.

So why do I mention it as the second to last tier?

5, 4, 3, 2, 1... Okay, five seconds have passed; here’s the answer—

1. Economic Division: Micro + Macro#

In my view, a project cannot influence or affect culture until it grows to a certain extent; it is difficult to say it possesses the strength to influence culture, whether from a micro or macro perspective. After all, both crypto and web3 are still in their early stages—Luna, which was in the top 10 by market cap, could plummet over 99% in a few days, and ETH could drop over 50% in a month. The total market cap of cryptocurrencies is around $1.2 to $1.5 trillion; no project can be arrogant enough to think it is stronger or more resilient than Ethereum, right?

Thus, projects that have not grown to a certain scale and size have relatively weak relationships and relevance to the economy.

2. Economic Orientation: Singular or Diverse#

When a project grows to a certain extent, an important criterion for judging its development stage and maturity gradually shifts to whether its relationship with the entire economic system is singularly maintained or supported by multiple dimensions.

Taking StepN as an example, after borrowing the dual-token economic model from Axie Infinity, the GMT+GST dual-token model provided this project with more diverse gameplay, more stable support points, and more varied consumption scenarios and a longer preset lifecycle. Therefore, its early development was very strong, especially after Binance's strong involvement, StepN's performance on the BSC chain was astonishing, with its token price once skyrocketing to over 20 times that of tokens on the SOL chain (if I remember correctly).

However, from another perspective, the "dual-chain support" of the BSC and SOL chains has still not reached a level where a project can rest easy with "outward orientation > inward orientation" and far exceed the baseline.

Thus, during a series of event shocks and severe market fluctuations, the StepN token model was severely impacted, and the price trend somewhat reflected the market's confidence in it.

Of course, from my personal perspective, I am very optimistic about the StepN product and its business model. My personal judgment is that in the short term, it will be difficult to see another "StepN," a similar phenomenon-level product. In other words, the market cannot accommodate a second StepN.

Ninth Tier: Society#

Finally, we have reached the ninth tier of the Nine-Tier Tower model, which is the last tier of this model—society.

I personally believe that the highest goal of a project, or the ultimate ceiling, is to become a part of the overall social system, or to subtly integrate into the entire contractual society in a way that is perceptible yet unknowable.

In this regard, the only example that comes to mind is the NFT project mfers, although its creator sartoshi recently announced that he has "disappeared," and even before leaving, he pulled off the "End of Sartoshi" NFT series for paid release. However, in terms of "integrating into society," nothing could be more down-to-earth and genuine than the phrase "motherfucker."

Of course, not every project needs to reach this point or influence society; if it cannot achieve this step, then it naturally has no connection to the word "great."

Or even if mfers, a very real, very crypto-native, and very decentralized project, has only reached a small part of the ninth tier of society in the Nine-Tier Tower—after all, in a time when Metamask has tens of millions of monthly active users, which is already considered the pinnacle of a "killer application," we are still so early.

Finally, let me add a few conditions that I believe a project needs to meet to reach the societal tier of the Nine-Tier Tower:

1. Become Social Infrastructure#

2. Influence Social Development#

3. Promote Social Progress#

Perhaps these requirements are utopian, but projects must have some dreams, right? Otherwise, what’s the difference from being a salted fish?

Fighting!#

———————————————————————————————————————

To summarize, the project team's Nine-Tier Tower model: 1. Vision; 2. Team; 3. Technology; 4. Marketing; 5. Community; 6. Brand; 7. Culture; 8. Economy; 9. Society.

Due to time and ability constraints, it is inevitable that I may have overlooked some points, and I welcome feedback and communication, hoping for a deeper understanding. Thank you.

——wenser

Personal ENS Domain: wenser2010.eth#

Overview of Past Content:#

1. Domestic NFT Project—Little Ghost
   https://mirror.xyz/0x70511BFE07d9E9599A93d5a7B9F6e1C30fbeC695/Ub-jeM1OqY_79ZzJQfyDzZq7aJQqrAUbF6lpeS5JoMQ
2. World-Class CC0 Series NFT Project—mfers
   https://mirror.xyz/0x70511BFE07d9E9599A93d5a7B9F6e1C30fbeC695/Hj1TvQZNsLuZhtMPZHFr7Z7fQLfVhpleUvssG0rsYKk
   "Did mfers Win?" English version - Twitter post (mfers creator @sartoshi liked and retweeted)
   https://twitter.com/wenser2010/status/1500427804176896001?s=19
3. "Dual Transfer of Paradigm and Model: Why Ordinary People Should Make Money in Web3? (Also known as: Discussing the Inevitability of Web3 Replacing Web2)"
   https://mirror.xyz/wenser2010.eth/Nz48sXewTbXcY3u_giZHmAiUtJ-Z_PE52ChMjPmnJts
4. "Web3 Survival Guide: Anti-Fraud and Security Manual V1.0 (2022)"
   Feishu version: https://e7qjl676i8.feishu.cn/docs/doccn2rvEMHefBYKvyTVRGwe7Pf?from=from_copylink
   Google Drive version: https://drive.google.com/file/d/14XeGdkLRC4wEyH2hdojcVqtxRFxVcY4L/view?usp=sharing