Web 3 basics for product managers.!

Product management could be very different in the Web 3 world

3 things that might be different as a PM in the Web 3 world

Execution over Mission and Vision

PMs at Web2 companies are used to focusing on long-term strategy and vision for products. While taking the long view is great, Web3 demands focusing on rapid execution ahead of planning and strategizing. In other words, “speed of iteration beats the quality of iteration.”

In a traditional company, you might be asked to develop a product vision statement. The chances that you’ll do the same in Web3, especially if working with a crypto startup, are low.

Competitive advantage is low

In the past, Big Tech companies conquered various markets by hoarding customer data, hoarding intellectual property (IP), vendor lock-in, and high switching costs. That’s why a few mega companies now effectively control large swathes of the market. Web3 is a different story—there are few, if any, competitive advantages for companies.

Low IP protection

Web3 was built on open-source ideals and prizes the idea of “technology as a public good.” As a result, software for Web3 is in the public domain, where it can be freely used, duplicated, or even modified.
The implication is that building a better product is hardly enough to guarantee success. Anyone can simply fork your project and compete from a product standpoint from day one.

To get a comprehensive guide to understanding crypto and blockchain for product managers check out:

#web3 #crypto #productmanagement #blockchain

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