Originally posted on January 13th, 2021 on mirror.xyz
Quick preface: shoutout to Jen, Vyara, Brennen, Jonathan, Ryan and Jeff for contributing to this framework.
As planning for Jump Season 2 kicked off, conversations began circulating about Jump’s mission statement, core values and positioning in the greater web3 space. As you can imagine, a group of agency people tackling these questions was pretty astonishing.
First, if you’re unfamiliar with Jump, it’s the first tokenized community of marketing and advertising professionals. Our community is focused on the intersection of crypto and web3 and marketing of all categories—and for those who are interested but unsure of where to start, it’s an excellent resource for learning and understanding the wild world of web3.
Because it’s still so early, I haven't seen many, if any, strategic frameworks that evaluate and map the positioning of crypto projects like we traditionally do for web2 brands. It could be a personal thing, maybe other strategists feel the same way, but there's something deeply satisfying about applying strategic frameworks to projects you're working on. At the very least they're a great jumping off point for your team's strategic planning.
This is the first part of an exploration into a strategic framework that web3 teams can adopt to evaluate their project in the greater scheme of web3. Considering how fast web3 is moving and evolving, there's a chance this becomes obsolete in a matter of months so this will surely require future tweaks and considerations.
Some Quick Web2 Inspo
The gmi-Algorithm is based on a framework introduced to me by Scott Galloway and his Section4 team. That framework is called the "T-Algorithm" or the "Trillion-Dollar Algorithm." It's a set of strategies that make up the top brands and companies in the marketplace; the Apples, Netflixes and Teslas of the world.
Introducing *ahem* the ‘gonna make it’ algorithm. These are by no-means the end-all-be-all of success, but it’s hard to argue that today’s top web3 projects can’t attribute their explosive growth to at least most of the strategies that follow.
Part I: The 9 Strategies
FLYWHEEL
A project’s ability to influence and benefit from other projects.
If cooperation is the winning strategy to the Great Online Game, the web3 projects who dive head-first into this strategy make waves. As Packy McCormick wrote in The Cooperation Economy, "It’s easier and smarter than ever for talented people to work together."
There's something special about the transparency culture of web3 where teams and groups regularly share learnings, insights and challenges with the public; making it easier than ever to learn from others' successes and mistakes. DAOs like Seed Club and Rabbithole.gg are built with cross-project collaboration in mind.
VISIONARY STORYTELLING
The ability to articulate a clear vision to members and hodlers.
Straight from the Prof G playbook, this strategy is just as important for web3 as it is web2. The Great Resignation has shown us that individuals are seeking meaningful work and ability to work effectively remotely is opening up new opportunities across the world.
Our industry is filled with visionaries—after all, if it's truly the new frontier of the internet you have to be hopeful, creative and daring to ape into this line of work. It's messy and it's fun. It doesn't matter if this vision is coming from one person, a small group, or if it's community-led; the constant communication and transformation of this vision keeps a community engaged. Projects like Krause House or Jump started with origin stories that injected enthusiasm into their communities.
GM
An inclusive community that brings good vibes to all who participate.
This may have been a hot take a couple years ago, but people should enjoy the work they do. Those building in web3 are committed to this and they're still able to be productive (who knew!). A gm a day keeps the bad vibes at bay—they’re a feature, not a bug. Seek the sweet spot of getting shit done without taking yourself too seriously.
URL TO IRL
The projects that are successfully bridging URL and IRL experiences.
Often overlooked in the industry of the new internet, I am most fascinated with the projects that are building beyond screens. Web3 is enabling us to connect and collaborate in new ways, but there will always be the desire to connect with others IRL.
Friends With Benefits' focus on parties is URL to IRL in its purest form. Their IRL Token-Gate product has bridged the URL and IRL experiences and members are benefitting from other projects and communities using the system—typically all FWB holders get access to those events. Creator Cabins is building a decentralized city by and for creators in web3. Projects focused on this strategy are giving teams and communities spaces to connect offline and deepen the relationships made online.
MEMBER ONBOARDING
The ability to onboard new members regardless of web3 experience level.
There are two parts to this one. First, a project’s ability to lure web2 talent into the world of web3 and making sure that they understand the new frontier. The second part, a project’s ability to set up a system that allows new members to get up to speed quickly on the objectives and status of various work streams is crucial. The latter adds flexibility and gives members the chance to dip in and out for whatever reason—whether it’s a vacation or spending time on another project.
LOOKS RARE
That gut feeling that you’re onto something special.
It requires a unique disposition to appreciate what is beautiful, creative and difficult to explain in plain language. It may look silly from the outset, but beneath the surface there is usually something gem-like and profound. If you’re deep inside web3, you know the level of creativity and innovation taking place all around you.
ACCELERATOR
Can serve as a springboard for someone’s career or social standing within web3.
In web2 there are a handful of companies that seem to justify the experience in startup leadership teams. Google, Facebook, Uber, etc., are all examples of companies act or have acted as career accelerators. Pay your dues at x-company and you’ll be setting yourself up for a big move on your next endeavor.
In general, no one cares what your career background looks like as long as you show up and are contributing. There is however a sense of pride in being early—whether in a specific project or general category. a16z seems to be the web3 equivalent of a McKinsey or Google and every day a new “thought-leader” is being gobbled up as a a16z partner.
TO THE MOON
Opportunities for community members to be remunerated for early adoption and participation. Value earned is value given.
Community is king in web3. So many preach that it’s the core of all projects and without it they’d be dead on arrival. It would be naive to ignore the opportunity of wealth creation within web3. And if ownership equals decision-making power plus financial power, members contribute to either earn the right to influence or the chance to add to their own personal wealth. Web3 enables both in ways that web2 will never.
ALPHA
Go-to projects as a source of thought-leadership, innovation and trend setting in any given category.
The web3 space is full of first movers. If you work in marketing, Jump is the place to be for all things web3 x marketing. Whether you’re into music, events, art, food, you’re going to find a project or community that is paving the way for web3 integration. The alpha that groups like Jump are providing are in direct relation to the value that members are putting in—also a signal of a strong community.
Now what?
Let me know what feels true and what feels like bullsh*t. What strategies did I miss? And what projects are perfecting each strategy?
More to come soon.