those BUIDLs that left the factory for Web3

With more and more evangelists, explorers and experimental products, Web3 is moving from a vague concept to concrete.

On the one hand, Web3’s infrastructure and market education have become more and more complete, and coupled with its attractive wealth effect, Web3 products such as StepN and Boring Ape have temporarily attracted a large number of users’ interest and attention; on the other hand, nearly 10 billion US dollars of venture capital Gold poured into the field of Web3, and giant companies such as Facebook and Google also followed one after another. Developed countries such as the United States, Britain, France, and Japan also expressed their views to vigorously develop the Web3 industry.

Soon, in the voices of doubts that “someone is willing to spend so much money to buy small pictures of little value” and “more Ponzi schemes”, capital and new entrepreneurs poured into the NFT, Metaverse, and GameFi craze, ” The slogan “All in Web3” was also shouted.

The traditional Internet people who have been involved for many years have also begun to make a move. Under the topic of “Web3 Research Institute” on social media, employees of leading Internet companies such as Donkey Factory (Alibaba) and Goose Factory (Tencent) are often seen. Watching, learning and testing. They all said that they are currently researching Web3 and considering entering this field, because grasping Web3 is grasping “the next era of the Internet”.

However, with the recent collapse of Luna/UST and the total market value of encrypted assets falling to a two-year low, the market has returned to calm, and the slogan of “All in Web 3” has weakened.

People naturally come and go with bull and bear cycles. But just as those who are still in the circle have expressed their opinions in the past few days, now is the time for the real BUIDL (crypto circle slang, referring to long-term builders) to start doing things.

“At least don’t miss it”

Li Xiaowa is the founder of Slash, an NFT subscription payment platform. He learned about the concept of Web3 during the NFT boom last year. But what really made him decide to get into the field came from a conversation with a client. On that day, the client who was an internet celebrity took the initiative to mention that he was willing to try NFT. Previously, Li Xiaowa had made products in Internet companies such as Alibaba and Meituan for more than ten years, and he discovered the needs before customers, but this time he passively learned about the needs of customers.

This small incident stimulated Li Xiaowa, and he began to study NFTs. In his opinion, compared to Crypto Native (referring to a large number of people who entered the industry in 2017 and 18), it is a little late to enter the market, but “at least don’t miss it”.

Kronus, who jumped from Amazon’s core business unit to Chia Network last year, also said that choosing to transition now has something to do with his judgment on timing. He believes that the “singularity” of Web3 is at most three to five years away. Just like the previous artificial intelligence, people believed that this was the next future at a very early stage, and it was difficult for outsiders to squeeze in after the real outbreak. Kronus wanted to bet on Web3 before the “singularity” and didn’t want to miss this opportunity.

Kronus has been in touch with the blockchain industry a long time ago, and has also tried quantitative transactions and “mining”. In April last year, there was a boom in Chia mining in the circle. At first, Kronus decided to study it with the mentality of “Why is there another liar?”, but after reading it, he thought it was a pretty good project. In addition to researching technology, Kronus is a video blogger. The video he posted about Chia was seen by the only Chinese in the Chia team. After that, Kronus received an olive branch from Chia.

At that time, Kronus had been working at Amazon for about 6 years, but his work became more and more boring – the code was written more than ten years ago, and his daily job was to fix bugs. This kind of stability may be the dream of many people, but he wants to chase newer things.

Kronus believes that the underlying logic of blockchain infrastructure and technology has begun to take shape compared with ten years ago, but it is not yet mature. He intends to take advantage of these years to accumulate and wait for the singularity to come.

Zheng Xiaoyue, founder of MetaNotey, believes that more and more people like him are entering this circle because the Web3 worldview has taken shape, and this temperament has a clear separation from Web2.

Zheng Xiaoyue has more than ten years of experience in traditional Internet and has worked in Microsoft, NetEase and other companies successively. Before founding MetaNotey, Zheng Xiaoyue founded information aggregation platform products and achieved millions of daily activities by the end of 2020. However, as a content tool product, there are few business models realized in the domestic ecological environment.

The team has also tried to monetize traffic advertising. However, in 2021, the domestic ecology has been very different, and the traffic dividends are also constantly losing, which also objectively prompted Zheng Xiaoyue and his team to seek transformation. Coupled with his long-term attention to Web3, Zheng Xiaoyue found that concepts such as NFT provide new possibilities for the relationship between products and users, and are much more interesting than advertising monetization.

So, in the second half of last year, he began to bring the team “All in Web3” to polish a Web3 content aggregation product. MetaNotey is a content aggregation community product based on Web3. It is a bit like a decentralized microblog. It is oriented to traditional Web2 users. Through fully automatic account hosting and other designs, it reduces the threshold for users to enter the Web3 world.

Zheng Xiaoyue also believes that it is too late to enter Web3 now. In his opinion, as long as you are willing to enter Web3, it is never too late. Even people in the circle are constantly learning new things every day. Facebook was born after the Internet experienced a new round of bubbles. Valuable products often appear after the market returns to rationality. During this time period, more “regular troops” and builders are needed to come in.

Web3 has no technical threshold, only conceptual threshold

What will you experience when transforming from a traditional Internet company to Web3?

Li Xiaowa is a person who likes to constantly find new challenges. He taught himself programming in college. After graduation, he made a web game in Kongkong, an app store in NetEase, and Fliggy Travel in Alibaba. In 2013, he joined the rapidly growing Meituan, incubating Meituan Takeaway and Meituan Flash Sales until Meituan went public. After the listing of Meituan, he changed the track again and aimed at the rising Southeast Asian market.

The ability to adapt to changes made Li Xiaowa’s transformation quick and decisive. In February of this year, he began to pay attention to NFTs. After only one month, he decided to “All in Web3”, adjusted the company’s direction, offline all businesses unrelated to Web3, and completed the NFT-based subscription system. On April 11, the team has released the beta version of the Web3 Creator Tools.

For Li Xiaowa, the obstacles encountered in the transformation mostly stem from mentality and concepts. Many people around him think that NFT is cutting leeks, and GameFi is Ponzi. Including many Internet “big men”, they just use the past thinking to judge a new thing, “In fact, many times it is the personal vision and pattern that limits you, I will not think about problems with prejudice, everyone has thinking ceiling.”

In the world of Web3, Li Xiaowa is sometimes “flanked” by the arrogance of the Web3 aborigines, and he receives questions such as “You don’t do enough Crypto”. In the face of such doubts, he felt that the Web2 experience was not a bad thing. When the circle was particularly excited, he could pull him back a little, calm down and think about the business cycle of the project and more sustainable planning.

Like Li Xiaowa, Zheng Xiaoyue has indeed encountered many people who have negative comments on the industry. For example, he does not agree that many people label StepN as Pond’s, and Zheng Xiaoyue will directly “open” after seeing some similar analysis articles. He feels that such products will definitely appear in Web3. The Move-to-earn economic system breaks the closed model of traditional games and connects with reality, so there will inevitably be more short-term fluctuations. In game design, it is necessary to balance short-term profitable users and long-term systems. This is also a challenge faced by more Web3 applications, but this problem is definitely solvable. Games like StepN are just the first.

In addition to the conceptual obstacles, the different collaboration styles between Web3 companies and big manufacturers are also places where some transitioners need to adapt. Kronus’ new colleagues have strong personal abilities, but because they have never “sold blood” in a large factory and lack that kind of efficient collaboration experience, the efficiency of teamwork is low. In addition, the project management is not so strict, and the project progress is slightly arbitrary.

However, compared to the gains in Web3, the problem of mutual adaptation in collaboration is almost negligible. Kronus first came to Chia, and what impressed him the most was the interview method. Unlike the algorithm questions that Dachang can’t use, he learned more in Chia’s interview alone. During the interview, the interviewer told him that Chia uses a new technical language that few people can master, and that this “new challenge” excites him, plus Chia and other blockchain To C (for Customers) products are different, To B (enterprise-oriented) project experience will be more valuable.Now Kronus has been working in Chia for nearly half a year. Compared with the big factory, his current job allows him to find a sense of value and self-identity, and he will no longer feel like a dispensable screw.

Some people choose to jump out of the big factory to start a Web3 business, but some people have personal aspirations that are in line with the company’s direction, and choose to incubate projects within the Internet company they work for.Liu Zhiqiang is the head of Inke web3. He studied the white papers of Bitcoin and Ethereum very early, and was amazed at the innovation of blockchain technology. However, in the 2018 ICO wave, there were too many “leek-cutting” projects, and the industry’s reputation fell to the bottom, and Liu Zhiqiang also suspended his research. It was not until last year that he wrote an NFT contract for a friend that he continued to focus on Web3 and blockchain.

After doing sufficient industry research, Inke has determined the strategic direction for the development of the Metaverse this year, and believes that Web3 and the Metaverse are an unmissable trend. In May this year, Inke officially launched the first Web3 label, Hoot Labs, and launched the INKPASS NFT on June 12. INKPASS is the core equity token of Yingke Metaverse, and it is also equivalent to the key to enter the Metaverse. Soon, on June 15, Inke decided to change its name to “Inkeverse Group Limited” to better reflect Inke’s current business development and its future development direction.

“The current Web3 is a bit like the early Web2”

Those who entered the traditional Internet relatively early found that the current Web3 environment and community atmosphere are a bit like the early Web2.

When Li Xiaowa saw Web3 today, he would recall the “Saipan Forum” many years ago, which made him miss him very much. “Saipan Forum” is a smartphone discussion community, which gathers a group of geeks who care about the development of mobile phone system technology. At that time, the number of mobile phone users was very small, and there were only single-digit TPS speeds, and most people were still using PC-side pages to surf the Internet. But many people in the Saipan forum, including Li Xiaowa, already believe that mobile Internet access must be the future. This atmosphere and expectation is very similar to the atmosphere in the current Web3 community. “Young people are starting to enter Web3 to pursue technology, study and toss. I think this is a good signal that young people are giving birth to a new Internet.” Li Xiaowa said.

NextDAO co-founder 0xSea.eth is also thinking about similar questions: What are the underlying structural differences between “Mobile Internet XXX” ten years ago and today’s “Web3 Version XXX”?

As a senior product manager, 0xSea.eth keenly captured the development trend of Web3 products from the iteration of social tools. Before that, he has been responsible for a number of products in listed companies on the Internet, and has accumulated a lot of startup and operation experience in community and social products.

In May last year, 0xSea.eth discovered a very interesting phenomenon in the process of learning and purchasing NFTs: the previous generation of projects around Tokens were all based on Telegram, and this wave of projects around NFTs has basically been transferred to Discord , which also reflects the need for a more complex and flexible community operation method for consensus-supported NFTs.

Re-organizing the traditional Internet, he found that from PC to mobile Internet, the biggest factor is the popularity of smart phones. Web2 in a narrow sense was born in 2005, but Douyin, Kuaishou, BilibIli and other applications based on “user-generated content” only brought billions of new devices to the Internet in 2017. Now, no one is talking about the old concept of Web2, but it is still going strong. The core element from Web2 to Web3 is not the increase in the number of users, but the upgrade around “asset trading”.

0xSea.eth concluded: “Looking back at the history of Web2.0, we can find that the process of popularizing the expression awareness and ability of ‘user-generated content’ is very tortuous. But with the popularization of intelligent hardware devices, this day will come. Web3’s The same goes for the underlying logic ‘user owns the asset’.”

Liu Zhiqiang also realized that the community atmosphere of Web3 is more friendly and inclusive. Compared with the high cooperation cost of web2, the competition of Web3 in the early stage was not fierce. In addition, compared with Web2, ordinary users have obtained rights and interests at an earlier stage, and can determine the development and trend of the project, thereby participating in the construction of Web3.

When reality is cold, how much faith is left in Web3?

After the momentum of “All in Web3” has calmed down with the market cycle, let’s talk about beliefs and whether the Internet industry is really going through the “great migration” from big manufacturers to Web3.

Headhunters do feel that the trend of Web3 is coming, especially companies with mature businesses, which have been recruiting a lot in February this year. However, for most Internet manufacturers, they generally take a wait-and-see attitude towards Web3, due to concerns about compliance and their own limited understanding of Web3. Relatively speaking, employees of large factories with a background of studying abroad are more accepting of Web3 companies. In addition, the top Web3 companies also have relatively high requirements for recruitment, and it is not unimpeded for “big factory employees”, and only a small number of people really meet the conditions. However, in recent days, the coldness of the crypto market has led to many blockchain companies closing HC (recruitment quota).

There is also a view that the trend of large factory employees seeking transformation and new opportunities has existed in recent times, and it is difficult to tell whether “All in Web3” is entirely out of the appeal of Web3.

Mr. Ye, the headhunting consultant of Rui Shi Fangda, said that those who have recently left the company or are preparing to change jobs have expectations for new opportunities not limited to Web3 companies, but few people are willing to return to Internet companies. In addition, due to the economic downturn and the new crown epidemic, many job seekers pay more and more attention to stability, and some people worry that Web3 companies are not stable enough.What’s more, with the overall economic downturn, Web3 can’t offer higher salaries. It is still too thin to attract people by the concept alone.

However, for those who have left the factory and officially entered Web3, they are indeed carrying the banner of Web3 and walking forward step by step.

If there is no belief in Web3, Li Xiaowa will not cut off business lines unrelated to Web3 this year. One morning after he decided to start a business, he said in a circle of friends: “a16z said that this industry is still in the 1993 year of the Internet. After calculating the time, I feel that I can still afford it.”, “Then play music and then dance.”

And Zheng Xiaoyue also felt that in the past year, the most correct decision he made was to lead the team to embrace Web3. “The beauty of the Web3 system is that the data, the economic value of ownership, etc. are distributed, and everyone has the opportunity to participate and start. A place of opportunity.”

After the craze of NFT, Metaverse, and GameFi, what else can Web3 and blockchain rely on to break the circle to attract the next wave of billion users? Very few people can make judgments. No one can tell how many projects will be lost in the tide of the times.

But things always need people to do things, and they also need to be mentally prepared to sit on the bench. Perhaps, many people can’t recognize Web3 yet, but at least we have to admit that many Web3 builders are already on the way.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/those-buidls-that-left-the-factory-for-web3/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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