Is crypto winter almost over? Surviving the unknown months
This winter has been a long one for the crypto industry, but it will come to an end. While many believe that warmer months are on the horizon––especially given the rising crypto prices and NFT sales volumes we witnessed early this year––we still remain in a state of uncertainty. To survive the remainder of this bear market, companies must remain disciplined, resourceful, motivated and forward-looking.
Aside from reducing overall operational costs, there are a number of steps companies can take to set themselves up for success—all of which go hand in hand: conduct market research, stay informed, focus on building and developing and remain engaged with the community.
The most common word of advice among leaders in the blockchain industry is “develop.” When the market is down, build because only the projects with the most robust and sound technology will survive long-term. Since business development initiatives remain slow, projects can really double down on technological development, ensuring they can meet user needs and demands when the market rebounds.
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To ensure they are building products that truly address the needs of their target audience, it’s important for projects to understand user pain points and the gaps that need to be filled in the market. Leaders should ask themselves: “Are we serving an essential purpose?” Leaders must have a good understanding of whether or not similar projects are faring well and why.
They must recognize what the changing market means for user interest and sentiment, whether or not the need for the technology is
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