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Content
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Linda Xie pfp
Linda Xie
@linda
Genuinely wonder how many companies in crypto are profitable (aside from network / protocol token which is a lot different) We've been in a fortunate spot to have offers for VC funding and talented people joining but our approach has been making sure Bountycaster is on a sustainable path first with just 2 of us
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​woj pfp
​woj
@woj.eth
companies charging fees on speculative volume are doing incredibly well
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Kaloh pfp
Kaloh
@kaloh
Great question Is bountycaster revenue public?
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Ben - [C/x] pfp
Ben - [C/x]
@benersing
0?
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Saumya Saxena pfp
Saumya Saxena
@saxenasaheb
I feel the sacrifice sustainability for high growth model now needs to show results. Love how you're building out Bountycaster.
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will pfp
will
@w
i would guess almost none
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Yele | Onboard 🌐 pfp
Yele | Onboard 🌐
@yele.eth
I’ve been thinking about this a lot, it way more easier to monetize & scale when we built a trading app than a more crypto native product
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yangwao ↑ pfp
yangwao ↑
@yangwao
Kinda brave move. Congratulations you choose this path.
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manan pfp
manan
@mg-labs.eth
Does revenue from grants count :P
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eggman 🔵 pfp
eggman 🔵
@eggman.eth
Honestly, a very tiny percentage. The vast majority are only profitable during bull run peaks, and that’s often because their token’s eth pair has spiked in value. Most people in crypto are speculating, rather than spending. If you’ve made a product that isn’t a speculative asset, profitability is a challenge.
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jon pfp
jon
@sweetleaf.eth
I wonder the same thing, outside of DeFi protocols that have volume to take a cut of it feels like a lot of companies opt for growth models that take from users to support themselves first instead of the other way around. I'm genuinely grateful for what you're doing.
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Zeen Train pfp
Zeen Train
@zeentrain
The only proven pricing model at this point is volume based pricing for trading of assets Recently did a lot of personal research and almost no one pays for any Crypto specific subscriptions. The only ones that came up were: - Coinbase One - Parsec - Nansen (sometimes) Everyone prefers cobbling free things together
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Joonatan | Phaver CEO pfp
Joonatan | Phaver CEO
@joonatan.eth
Building in social with self-funding is really hard but also have seen many times that $100M funding still does not get any traction if model is wrong. For Phaver we decided to scale to 30ppl early to be prepared for the unique opportunity web3 social has right now but still of course working in scaling model.
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criss pfp
criss
@cerbivore
Yes good question. I know some that are profitable/sustainable by clever treasury management. But they are not making money by selling services or products.
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Caster Cat #648 🎩🧾 pfp
Caster Cat #648 🎩🧾
@ariansh.eth
Ethereum Uniswap Maker Synthetix List goes on just a few that come mind i think people are paying too much attention to memes and not enough attention to defi 🤷‍♂️
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Tudor 🟣🟡 pfp
Tudor 🟣🟡
@tudorizer
Marketing 📢 noise 📢 aside , very few are profitable, even networks or protocols. Why exclude them? We are getting better at this web3 these days, with more focus on customers.
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Dirk Siebels pfp
Dirk Siebels
@disic
Great question. One comment though: for many companies, being profitable now would mean to focus on a niche market whereas you could argue that it makes sense to spend now and bet on much bigger adoption in 2 or 3 years when you have a lot more potential users to target.
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