VC = venture capital.

Web 3.0 = decentralization + ownership.

With that, let’s get into it. What do I know about VCs? Nothing. My interest has gone up in the last few weeks leading up to speaking at NFT NYC - which is an annual-(ish) conference on the topic of non-fungible tokens (NFTs).

A few days ago, I did a spontaneous Twitter Space with Del Johnson, VC and angel investor, that felt like a VC crash course (here is the recording) designed specifically for newbies. I was able to ask all my burning questions as well as the various paths VCs take and yet somehow they converge on the same solutions. Listen to the audio if you have time (Tip: skip the first 5 mins).

There are two things I learned from that Twitter space:

1. The current VC landscape is vague by design.

2. The VC world is ripe for disruption.

The following are my community-building observations and I suspect this is an evolving perspective.

Community Building + VCs

VC Twitter isn’t just obsessed with random graphs to make a point, they also misunderstand the role community plays in the NFT space. Some members of VC Twitter do understand this and they can draw from the communities they’re already part of outside of Web 3.0.

With NFT communities:

• It’s vague at first but felt immediately when values align for the community.

• Takes effort and time (even with amble funds available).

• It takes seconds to lose (blue-chip projects fell victim to this recently).

• The role of community-builder currently takes on the load of 3-4 jobs. As the NFT space matures, this will change.

VCs haven’t changed how they view founders and ideas as the result of NFTs. Your community is your brand in Web 3.0. The building stage is difficult whether web 2.0, 2.5, or 3.0 - but the ability to listen to your community is the single most significant task for every founder.

The majority of established brands have missed this on their move from Web 2.0 to Web 3.0. The effort and marketing skills don’t translate because those in the NFT community ask themselves, “what’s in it for me?” This can either be accepted as a challenge or companies are left behind. Without consistent value, founders will be forced to be reactive rather than innovate while community building.

More of this to come, in the meantime join my free Unlearning Newsletter:)