When only had MVPs, we benefited from Hackathons and Grants
Hi~ We are NonceGeekDAO, a global developer DAO, which the vision is: Help Indie Hackers Gain Life Growth.
After its establishment in 2019, NonceGeekDAO has included more than a dozen open source projects, and developers continue to be active.
Counterintuitively, it was not until 2023 that we launched our first official external project - a decentralized digital identity(DID) protocol based on the Aptos blockchain network:
0x01 Get truly high value projects through genetic algorithm
"**Mental resources and emotional resources are the most precious resources of human beings. **" This is our key principle.
And, we think if you want to maintain an independent project for a long time, you must invest mental and emotional resources in the project.
Therefore, in the end, the number of projects maintained should be small enough to ensure the quality of the project.
Our choice is to minimize manual judgment and use "genetic algorithms" to allow excellent projects to naturally win over time. In this process, developers and users will vote with their feet and move towards projects that they like more.
Here is the natural selection process from ideas to full-fledged projects:
+-------+ n% +--------+ m% +---------------------------+ o% +----------------------+
| IDEAs |---->| MVPs |---->| Get first batch of users |---->| sustainable projects |
+-------+ +--------+ +---------------------------+ +----------------------+
Eventually, a n%*m%*n% proportion of projects will eventually become ongoing projects, bringing cash flow support to the organization itself.
0x02 Give time to ideas good enough
How to judge whether an idea can grow into a sustainable project? This is an interesting question. Because sometimes, some great ideas are too advanced and have difficulty attracting the interest of developers and users at this stage.
Our thinking is - No judge, let it growth naturally.
For example, a project grows from IDEA to MVP stage, but fails to reach the third stage due to various factors. In this case we do not terminate the project but leave it there. Because it is possible that at some point in the future, when various factors meet the conditions, this project can be upgraded again.
**Be patient and give time to a good enough IDEA. **
0x03 In practice, how do we get the funds?
The Web3.0 industry has its own peculiarities - fund upfront. That is, after we make an MVP with open source code, we could obtain funds by participating in Hackathon competitions and applying for Grants from relevant Foundations.
In summary, Hackathons and Grants are divided into two categories: Ethereum-based and non-Ethereum-based.
Because Ethereum is the leader in the Web3.0 world, there will be more Hackathons and Grants, but they will also be more intense.
Here is a list of some related resources:
https://ethereum.org/en/community/grants/
Non-Ethereum systems will have less market share, but there will be less competition.
Here is a list of some related resources:
https://aptosfoundation.org/grants
Feel free to contact me with email: leeduckgo@gmail.com
So, how do you get funding before launching your product? Welcome to share your experience^^.
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