Concept for Attracting Visionary Entrepreneurs to Create Web3 Killer Applications
Hi ICP community, I’m Hayato,
I would like to share my thoughts on the structural challenges of incubation in Web3 and possible solutions in order to create a killer application that achieves PMF on ICP.
so,First of all, it’s wonderful that ICP services are being developed in countries around the world, and that there is an ecosystem that produces them, such as ICPHubs. I want to work with the ICP ecosystem to make ICP a success.
issue
(1) Advanced expertise vs. user accessibility
Designing unknown business models using new technologies requires a high level of expertise. However, there is a significant disparity in users’ digital literacy and UX understanding, leading to feedback being skewed toward a limited group of advanced users.
(There is a risk that the MVP does not reach the target persona users who should be tested and instead only reaches users engaged in airdrop activities.)
(2) External regulatory and taxation barriers
Business model development is hindered by external factors such as legal regulations and taxation, making it difficult to explore and establish new ventures.
(3) Development of new business models made possible by ICP’s unique technologies, such as chainfusion and DeAI, which are its strengths
While there are early-stage support measures, the ecosystem and knowledge base required to create MVPs and explore business models that do not yet exist in Web3 are still insufficient.
(For example, Chainfusion is a technological piece that enables value transfer but does not yet exist in the world. Just as Facebook once developed the “Like” button, there should be a new form of value transfer that will emerge as a result of the realization of Chainfusion technology.)
(4) Attracting entrepreneurs to the ICP incubation ecosystem
Since ICP is a decentralized cloud, it is correct to focus on onboarding developers. However, in order to produce killer applications, the incubation ecosystem must also attract visionary entrepreneurs to the platform.
These challenges combined make it still difficult to nurture Web3 startups.
Why It Has to Be ICP
At the same time, as you all know, there is a clear reason why ICP is uniquely positioned for this.
ICP’s role as a decentralized cloud makes it an excellent platform for generating value transfer use cases, such as Chainfusion.
For example, I see the vly.ai team’s product as being very close to an ideal value transfer use case, as it aims to increase multi-chain interactions on X and TikTok. I believe it has great potential.
Furthermore, with the upcoming release of SWI (Self-Writing Internet), I believe that MVP development will become significantly easier, and it will also become possible to better reach entrepreneurs (such as through Caffeine AI).
Creating a Web3 Startup Incubation Model
I believe we can create a support system similar to a startup studio that focuses on MVP development and supports both developers and entrepreneurs.
This is a model that can be deployed across hubs worldwide, and I believe it is precisely the reason ICVC was created. That is why I wanted to share this opinion here first.
Possible Support Framework
- ICP Hackathons & Learning/Education Opportunities
→ (This is already being implemented by ICPHubs.) - Business Support for Entrepreneurs & Developers
→ (This is the area I would like to explore further.)
・Example: A checklist for building and validating MVPs
・The tokenomics spreadsheet previously published by ICVC was fantastic. If there is an update available somewhere, I would love to see it again. - Investment Function
→ (This is already being implemented by ICVC.)
I’ll try sharing it on ICVC DAO as well.
I would love to discuss these challenges and hypotheses further with everyone.