Web3 rules

Hey Explorer

Let's start the week in style!

It's well-known that substantial profits can be made quickly.

Consider, for instance, selling 10,000 NFT PPFs at a thousand dollars each, which can generate $10 million, not to mention the royalties, sub-collections, and the entire ecosystem that can emerge from it.

Certainly, it's a quick path to wealth, but it's equally fraught with risk.

Things can deteriorate quickly, and easy money can swiftly become a series of complications.

It's important to acknowledge that most Web3 projects are rushed, leading to adverse reactions and sometimes legal actions.

For a Web3 founder or team member, acknowledging this reality is crucial.

How do you tackle these challenges?

Here are three key aspects:

First, good intentions.

Your goal isn't to deceive or exploit.

You're not just after a quick profit or riding the wave of the moment.

Acting with sincere and noble intentions is essential.

Karma plays a significant role.

If you face legal issues, your intentions can be the difference between severe consequences or lesser ones.

Were they malicious, or just the result of an unfortunate accident?

Intentions matter greatly.

FTX's legal team is looking for evidence of Sam Bankman Fried claiming not to be motivated by money, but by advancing crypto and positively impacting many lives.

Second, transparency.

Transparency doesn't mean revealing personal information but important elements like:

.Your development skills. .Your understanding of achievable goals. .How you generate revenue. .How the team uses the funds.

Saying "I don't have a specific plan and intend to buy a luxury car" is fine, as long as you're transparent about it.

Paying yourself a reasonable salary is also normal, but honesty about this is key.

Without transparency, confusion, doubt, conspiracy theories, and negative public reactions are just around the corner.

Third, firmness.

This means not being overly submissive to the community.

Mistakes are inevitable, but don't let the community take over your project.

You lead the project.

You're the leader.

You put in the effort and take the risks.

Being firm is vital, as Web3 founders often tend to be too accommodating.

Some yield to every request, allowing fear, uncertainty, and doubt (FUD), or even threats and insults, to take hold.

Tomorrow we'll be talking about MVC DAO, another Web 3 rule.

JACQUES - SPACE EXPLORER

PS: my DM is open, let’s connect https://twitter.com/Jacques_deBrie