Anatomy of a web3 startup (Chapter 1)
summary
POAP begins as a 2018 project and launched 2019 as NFTs for event collectibles, self‑funded through millions of personal spend before any VC; financing strategies recommended are bootstrapping, grants, or careful non‑token VC, while token sales are labeled high‑risk. Built systems include geofenced PowerUps (7 km), onsite minting, and a provable raffle implemented with po.fun open‑source raffle; current revenue comes from enterprise partnerships and $25 per 100 POAP packs.
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chapters (14)
- 0:00Web3 startups intro
- 1:05Painful truths about web3
- 2:11Speaker’s crypto journey
- 3:17Learning Ethereum struggles
- 4:22Building Poap for real problems
- 7:15Financing web3 startups
- 9:39Bootstrapping versus venture capital
- 10:44Why VC fails in crypto
- 12:27Grants and exotic funding
- 14:15Dangers of token financing
- 16:52Tokens not viable funding
- 17:59Future plans and closing
- 18:20Poap minting demos
- 20:30Q&A
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