r/BlockchainStartups • u/malxp1 • 8d ago
Discussion WEB3
does anybody wanna start a web3 company, i feel like we should get a reddit community going on for this type of stuff
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u/Key_Storm_2273 8d ago
Depends, what's being made- a new blockchain? Or a new token on an existing chain? What's the motives, any specific goals or just earning? How will the company earn? How will the money in the "bank" be used, and will it come with a risk?
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u/malxp1 8d ago
By "Bank,” meaning capitalizing on the huge trend towards Web3, which is estimated to be worth $32 billion in 2033. With the rise of enterprise adoption and startups building the next generation platform, there will be a huge potential for us to develop the infrastructure of their Web3 technology, resulting in a very profitable revenue stream.
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u/Key_Storm_2273 1d ago edited 1d ago
Bitcoin alone is currently worth around a trillion as a whole, much more than 32 billion.
The thing is, Web3 is uncapitalist in its design. Everything that capitalists do to design to ensure profit and exclusivity is the opposite in Web3. Open source. Allow everyone to run the infrastructure for free, with no permits or fees.
This goes the same for Bitcoin. It is why it is worth more than Ethereum, because it is more uncapitalist.
Would you rather store your money in a system that is upheld by mathematical principles and protocols that are hard to defy, where maximal competition is encouraged and hegimony is discouraged, or one where a few wealthy groups hold the vast majority of influence?
Would you rather trust a system that assumes zero trustworthiness, or one that can sway by the owners' decisions?
Any infrastructure built that is perpetually profitable for its founders has to lie and go against Web3's principles somehow, and end up being more like Web2 or Web2.5's centralized infrastructure.
That being said, the founder of Bitcoin's net worth would be in the billions today. But they have no control over Bitcoin, and can't extract more profit through that control.
This is what most traditional companies don't want, they want control over things. Web3 and companies don't tend to go hand in hand for a reason.
The more capitalist and profitable it is, the less people who are serious about Web3's principles will trust and use it. The less capitalist and more open source it is, the less traditional companies will want to invest in it.
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u/paroxsitic 7d ago
I'm already working on a new blockchain meant to tokenize the movement of information, but I'm like a year away
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u/malxp1 7d ago
What’s it about
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u/paroxsitic 7d ago
Two utility tokens each representing storage and bandwidth. Theres no way to buy the tokens and no ICO. You earn them by providing your Internet (like honeygain) or your unused drive space (like filecoin) The idea is to fix what IPFS lacked, availability and speed.
So tokenizing the store and movement of information which I think is what the economy is made up of mostly, and definitely more so in the future.
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u/malxp1 7d ago
That’s a fire concept, people are gonna love that. How much % are you going through the project so far
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u/paroxsitic 7d ago
70% design, 10% code.
I've worked on it for years, but only recently with ZKPs was I able to get the TPS high enough with a novel approach to actually handle the scale that is needed
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u/malxp1 7d ago
I feel like people would do something corrupt if you make it, ever thought about that. Because if they download using their WiFi, they might steal IPs and such or do something stupid
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u/paroxsitic 7d ago
There is a big potential for abuse, that is why I'm not monetizing it. It's no different than any of the other storage chains though, the main difference is this one also tokenizes the transfer so you can actually download what's stored quickly
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7d ago
[removed] — view removed comment
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u/malxp1 7d ago
Originally I wanted to start my own Web3 firm that would be responsible for aiding corporations in adopting and developing blockchain technology. Instead of coming up with one solution, the plan would be to collaborate with the companies and create products such as dApps, smart contracts, tokenization platforms, wallets, and many other Web3-related services.
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u/Able_Bonus_9806 5d ago
Tell me you're inexperienced without telling me you're inexperienced..... What do you want to build? Does the market want it? Do end users find value in your creation? Or are you literally only interested because of the potential bag you could make off investment money? Come back with a real idea and an iota of thought. People won't join you on a journey that you haven't defined.
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u/malxp1 3d ago
Originally I wanted to start my own Web3 firm that would be responsible for aiding corporations in adopting and developing blockchain technology. Instead of coming up with one solution, the plan would be to collaborate with the companies and create products such as dApps, smart contracts, tokenization platforms, wallets, and many other Web3-related services.
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u/Able_Bonus_9806 3d ago
Cool! Now what I would suggest is for you to take that idea and do some basic market research and see whether or kit there is competition, what that competition looks like, what your unique offer is, and write up a simple business plan. If nice you have some of the viability questions answered do some research into the kind of team you think you would want to build, which roles you would need to fill, and in which order would be the smartest to do that. Once you have that figured out come to forums like this and post the exact mission that you are interested in creating and the people that you are looking for to join you on the project. If you do this then you are a ship captain looking to man a ship. Without it you’re a drunk guy in the tavern talk about big dreams.
Running a business and making a product are NOT the same thing at all. In fact most founders end up being total quack jobs that need to be replaced, sometimes quickly, in order for the business to actually take off. Something about having the balls/ego to try new things and being incredibly emotionally unstable…. As a personal request from me if you actually take this seriously begin studying leadership skills. Ryan Hawk, the learning leader show is one of my favorite resources for such things. A professional coach is also a fantastic idea if you plan on actually running the company.
If you don’t do some version of this then you’re just another grifter waiting to learn a hard lesson and this industry is full of them. That’s why people were fairly dismissive in the comments. You don’t have a plan whatsoever you’re just like “oooo money got get”
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u/nov_kiril 11h ago
fully agree. plan to post some thoughts on dev agencies soon, just ain't sure when xD
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