Crypto VCs share lessons on startup success at EthCC
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When bringing a new crypto to market, the fastest way to do so is arguably with the help of venture capital (VC) financing. But such a high-risk, high-reward operation in a rapidly evolving field can carry a large degree of uncertainty. At the Ethereum Community Conference event in Paris, several prominent VCs decided to share their insight on which strategies have worked out for startups.
For a successful launch, Ryan Barney, an investor at Pantera Capital, recommends founders “focus on the whales/VIPs” or emphasize selling to an exclusive, affluent clientele as opposed to trying to scale at the very start. In addition, Barney raised the example of the successful Blur airdrop and how a well-designed, marketed airdrop focused on optimizing user engagement within a protocol can boost traction.
