- Crossing the Chasm
Crossing the Chasm
There’s a famous book called Crossing the Chasm which describes the technology adoption lifecycle, and how a different strategy is required to attract mainstream users versus early adopters. This week had some events showing our place in the chasm.
We held a Town Hall to recap the BBMA drop and tease what’s coming soon. Check it out here.
Story of the Week
The bigger context: Most of web3 is in early adopter phase. NFT early adopters, like holders of Moonbirds and Beeple artworks, take on high technical risk and are highly motivated by financial speculation. The FUD is primarily targeted at this group. In contrast, companies like Unblocked and Dapper Labs take a different approach, optimizing for mainstream user experience and value related to passionate fandom. For example, people can pay with credit cards and value is tied to things like one-of-a-kind experiences and community. This is the way to cross the chasm, to attract the early majority pragmatists, and onboard millions into web3.
Stat of the week
750 ETH ($1.5 million)
Amount stolen from Moonbirds holder in a phishing attack. Clearly, there needs to be guardrails to prevent this attack on new entrants into web3.
Web3 Topic: Phishing attack
In web3, this attack tricks someone into exposing information from their crypto wallet that allows the attacker to steal their assets.
What to do about it? One way to provide guardrails is to use custodial wallets where your assets are held by a company as opposed to on your device. The company knows how to protect the account’s private keys and can add security like 2 factor authentication. Examples of companies offering custodial wallets are Unblocked, Dapper Labs, and Coinbase.
Stay safe out there and have a good week!