Product market fit before blockchains

olanod
Tue, 16 Jul 2024 19:19:08 +0000
Ecosystem

At Virto, we created the Kreivo common good infrastructure to boost adoption of Kusama. We believe Kusama is the perfect place for early-stage startups and businesses seeking to validate whether their product is something users will love. With the right tools, projects can move faster and avoid many costs and delays linked to a more traditional approach to create an organization. This includes setting up a company, opening corporate accounts, getting early stage funding and building a product from scratch - not to mention costly blockchain developments.

The Misconception

Many people joining the ecosystem think they are meant to create their own blockchain right away. Non-technical founders, for example, will embark on the challenging task of learning an entirely new world of terminologies and finding the right CTO well versed in Substrate. Even if we provide simple AppChain deployments à la Tanssi, this still comes with complexity. It’s basically a solution to a problem a founder shouldn’t need to address at an early stage, perhaps not for years.

In reality, what startups need first is to validate their product. They need to benefit from a system that allows them to move fast and cheap without having to worry about new concepts and complexities we love to introduce in Web3. They simply need to know if they are building something their users actually need or want and worry about scalability later. This is where Kreivo comes in.

How Kreivo Helps

Kreivo’s base infrastructure can already provide ~80% or more of what most autonomous organizations need:

Memberships and community management

Flexible decision-making mechanisms

Solid payments infrastructure with configurable fees, dispute resolution, subscriptions and more

Curated listings of products and services

Account abstractions to forget about wallets and the fact you are building on top of blockchain technology

For the missing bits and the secret sauce that makes the product special, there’s always smart contracts. These are much simpler and cheaper to develop. Founders will even find that they can simply hire or pay a small fee to developers in existing organizations in the Kreivo ecosystem to instantiate a contract that already solves their needs.

Our Goal and the Kreivo Advantage

We want to attract as many founders as possible, especially those building real world businesses. Our aim is to help them iterate quickly and very cheaply. Later, we can help them scale by providing instant migration of the community/organization data and smart contracts to a dedicated chain in Kusama. For the top 1% or less that exceed all expectations, we can always offer them a simple transition path to Polkadot to benefit from increased security and resilience.

By using Kreivo, startups can go from idea to product with market fit much faster. They can avoid the complexities and costs of creating their own blockchain before they even know if their product will succeed.

Remember: Find your product-market fit first, create something people actually want to use, sell … a lot, and only later then think about blockchains and this whole unintelligible world of buzzwords. Welcome to Kusama!

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