
Cofounder Magic Eden
9 Followers
I used to think that Bitcoin would only be the decentralized money use case. But now I think it could be the biggest on chain ecosystem over the long run (in terms of value). ordinals / runes are signals to me of what's to come. as always - fade bitcoin at your peril
1/ I think speed and intuition are the two most important things in building crypto products. Lots of teams are afraid to get something in the market before its ready. Or make bets that are too far out in the future -- where the market is not ready. These judgements are super hard but really important 2/ Keep a level head despite what is happening all around you - this is especially important as it relates to the team and keeping everyone focused 3/ Have long term conviction -- it is hard to do because there are opportunities everywhere and always a new thing to chase. But to do something well takes a lot of work so don't spread too thin
There are so many that didn't work - like too many. But here's a couple: - we tried to localize the product into turkish in like week 3 haha to experiment if that would be a good wedge to get users. This was obviously not a good idea and we found out pretty quick -- but good news is we built it quick and then canned it quick - we built a drop calendar -- it was fine but i wouldn't say it was a hit. it goes to show that you should focus on the core and make sure you do that super well - as there is an infinite roadmap when you start to increase surface What exceeded - launchpad. this was an experiment like localization where we said let's do 5 manually and see how it goes. but after a couple we realized that it was not only solving the creator's problem (how to mint and distribution) but also users (safe place to mint, top creators etc). Since then we've launched nearly 1000 creators probably at this point and it's been a huge part of ME.
NFTs can change the way we consume content because it is just programmable media at the end of the day. May be hard to see today because they are images that can be traded. But don't let that trick you into thinking that's the limit of possibilities.