The following is a guest post by Nischal Shetty, co-founder and President at Shardeum. Embracing the ethos of bootstrapping and iteration is crucial for Web3 startups with minimal funds. Instead of solely relying on external funding, startups can self-fund or use revenue generated from early adopters to fuel growth. Continuously iterating on the product based on user feedback ensures progress toward the vision while conserving financial resources.
In conclusion, while securing substantial funding may pose challenges for Web3 startups, it is not an insurmountable barrier. By leveraging open-source tools, developing a lean MVP, prioritizing sustainable growth, tapping into grant programs and hackathons, fostering collaborations, and embracing bootstrapping and iteration, entrepreneurs can navigate the Web3 landscape with limited funds. With resilience, adaptability, and strategic planning, success in the Web3 space is within reach, even with modest resources.
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Author: Nischal Shetty
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