web3 doesn’t have a top of funnel problem, it has a conversion problem

web3’s conversion problem is not about onboarding friction, it’s about perceived value gap 

if potential users see no reason to try your product, it doesn’t matter how frictionless it is

There's a lot of focus on the tech and not enough on the business problem being addressed.

Any new tech is adopted because it solves problems.

Crypto startups must get better at solving those problems (ie focus on the right ones) and then at articulating their value (ie "these are the solutions we give you").

Co-founder at @banklessconsult, the leading strategy-to-execution global consultancy in crypto. I write on paragraph.xyz/@mc10

100%, it’s both a product and GTM challenge

Follow-up question is "Why is that?".

I suspect it could be due to the inexperience of many of the web3 founders.

Most are *very* smart but this is still their first gig.

They're learning as they go how to build a good product and a profitable business in a highly volatile industry.

High degree of difficulty.