Go to Market Strategies in Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In the Web2 world go-to-market strategies focused on free products and services.

In the Web3 world, go to market strategies focus on tokens.

Tokens incentivize the early users by compensating them for their work.

In addition to users, developers, investors, and others can participate as well.

The use of tokens allows a company to launch without a product.

It puts the community and their mission at the center rather than the product and what it does for the customer.

Some Web3 communities called DAOs focus on building the underlying protocol that ties the community together.

Since revenue is not yet in the picture for many DAOs, they focus on TVL or Total Value Locked which measures the value of all assets associated with the protocol.

Other metrics include number of token holders, community engagement, and developer output.

Instead of offering free products the Web3 offers free tokens called airdrops.

This gives potential community members something of value at no cost such as the ability to vote on the direction of the DAO.

Communities can incentivize developers with bug bounties and quality testing.

Web3 brings new tools and structures to the startup world to speed the launch and growth of the business.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Reputation, Credentials, and Identity in Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Reputation, credentials and identity are new use cases brought about by Web3.

Since there are no longer gatekeepers to check credentials and identity, there must be some way to manage this online.

There are several types of reputation.

Social reputation captures one’s value based on user-generated content.

Through likes, shares, and retweets there’s a score for one’s reputation.

Contribution reputation captures what one has done and gives it a score.

Credentials represent the achievement of a certification based on accomplishing tasks or activities.

The system captures this in the form of avatars and badges.

An example of this is a customer loyalty program.

Finally, there’s identity in which the system verifies one's identity.

This requires a verification process to determine if you are who you say you are.

This gives rise to the identity provider use case.

Web3 removes the intermediaries and uses online software tools to capture one's reputation, credentials, and identity.

This gives rise to new functions that must be done online.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Treasury Function in Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web3 brings a new function the startup must manage: the treasury.

The treasury function exists in the Web2 world but typically has no impact until later in the life of the startup.

For the Web3 company, the treasury has an important role from day one.

The Web3 world introduces the concept of the token which provides value to the members of the startup.

Those holding tokens have the option of converting those tokens into dollars.

The treasury must be able to handle the conversion to fiat currency.

There are also tax implications with tokens.

Using tokens as incentives for sales and other activities triggers taxable events.

Tokens can fluctuate in price dramatically.

As tokens rise, it increases in value to the holder.

As tokens fall, it decreases.

Taxable events must be paid regardless of the current value of the token.

Tokens bring a new level of complexity to the startup which must be managed early on.

Consider how to handle the treasury function for your startup.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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On this episode of Investor Connect, Hall welcomes Mike Partsch, Chief Venture Officer at the Wisconsin Alumni Research Foundation (WARF). Located in Madison, Wisconsin, WARF serves as the designated tech transfer office for the University of Wisconsin-Madison. For nearly a century, WARF has played a crucial role in advancing groundbreaking discoveries from the university's research labs to commercial markets. They manage the intellectual property generated by university researchers, license it to various industries, and allocate royalties back to the university to support ongoing research and innovation. With a strong commitment to fostering a collaborative ecosystem, WARF has successfully partnered with numerous startups, driving impactful advancements across various sectors.

Mike Partsch is a seasoned professional with a rich background in venture capital and entrepreneurship. Having spent years honing his skills in the startup landscape, he brings a wealth of knowledge and experience to WARF’s investment strategy. Mike’s journey led him to work closely with the university’s entrepreneurial community, identifying promising technologies ready for commercialization. His insights into building a robust portfolio of startups around health, wellness, and technology have positioned WARF as a leader in the field, particularly in the health care sector.

In this episode, Mike discusses the mission of WARF Ventures and its unique approach to investing in startups that stem from the University of Wisconsin-Madison. He shares how WARF's structure as a separate nonprofit organization allows for a more agile and focused investment strategy, enabling them to support early-stage companies effectively. Mike also highlights the importance of collaboration with entrepreneurs and other stakeholders to ensure that innovations can thrive and address significant challenges within the healthcare landscape. He emphasizes WARF’s commitment to wellness and preventative care, aiming to shift the conversation away from reactive healthcare solutions.

Visit WARF at https://www.warf.org/, LinkedIn here: https://www.linkedin.com/company/wisconsin-alumni-research-foundation/. Reach out to Mike Partsch at Linkedin here: https://www.linkedin.com/in/mikepartsch/. You can also contact him via email at MPartsch@warf.org.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Difference Between Web2 and Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are several differences between Web2 and Web3.

Web2 centralizes the control of information kept by gatekeepers while Web3 decentralizes control and removes the gatekeeper.

Web2 requires one to give their content and information to another entity, while Web3 lets the user maintain control of their content and information.

Web2 focuses on reading and writing content while Web3 focuses on creating content.

Web2 uses fiat currency such as the US dollar while Web3 uses cryptocurrency such as tokens.

Web2 uses JavaScript and HTML while Web3 uses open source blockchain technology.

Web2 stores data on centralized servers, while Web3 stores data in a distributed manner across the internet.

Web2 gave users access to the system through logins and passwords.

Web3 gives users access to the network through their own online wallets.

Web2 provides basic content while Web3 provides the semantic web using artificial intelligence and machine learning.

Web2 provides basic application to application communication while Web3 provides composability or the ability for one application to call another application.

Web3 continues to grow and evolve and holds the promise of creating a more democratic internet available to all.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Composability

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web 3 brings software composability to a new level.

Composability is the ability to select and combine components to meet specific requirements.

An example is the smart contract on the blockchain.

Any smart contract can call any other smart contract to execute it.

Web 3 uses open source components to build systems.

This allows the developer to use the tools and systems of others without having to reinvent them.

Some level of standardization must be applied to ensure the compatibility and reuse of modules and components.

This enables access to multiple applications and systems.

For example, one can cast a vote on a DAO, which triggers a token award and then deposits that token into a yield farming system to earn additional money.

Composability is the next generation of application software as it connects across company boundaries.

As we digitize more things to represent on the internet, the greater the opportunity for composability.

For example, an art object can be captured on the web as an NFT.

This NFT can now be used as part of a composable system.

Composability has been around for a long time and as Web3 brings new physical components online, the ability to combine each component into a new system is endless.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Benefits of Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The next generation of the web, called Web3 seeks to decentralize the internet and give control back to the users.

This brings several benefits to content creators using the internet.

Here are some examples:

The current web lets anyone copy anything and share it with others.

This provides no compensation for the creators.

Web3 through NFT or non-fungible tokens prevents copying and distributing content and installs a payment mechanism for their work.

Web2 used the advertising model almost exclusively.

Web3 will enable other business models and will allow content creators to capture more of their share of the revenue.

New payment mechanisms will let content creators raise investment funding for their work rather than donations.

This provides a greater revenue opportunity for the content creator.

Tokenization lets every creator earn a share of the revenue unlike current ad models that reward only the most popular.

Finally, Web3 gives the user control of their data and content rather than the platform.

Content creators can move to other platforms and take their data with them.

This gives them the power to negotiate better terms and greater revenues.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Web3 Innovations

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web 3 brings new innovations to the internet.

Here are some key innovations:

Web 3 uses blockchain technology which captures permanently all transactions and list of ownership available for all to access.

Web 2 had siloed records based on the platform or the company and only a limited number were able to access it.

This standalone record provides portability.

One's content, data, and identity are always accessible.

Web 3 provides a secondary monetary system called tokens which compensates users of the platform for their contributions.

This provides incentives to those building the system.

Web 3 brings increased interconnectivity of systems.

Web 2 systems had limited data exchange while Web 3 takes data and application exchange to the next level.

Web 3 reimagines the company as a group of people with a common cause rather than just a legal entity.

One can build a community using software to manage and execute the policies of the group.

Web 3 brings new innovations to software, entity formation, and connectivity.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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