DAOs Bring a New MVP

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are communities with a purpose using software platforms to coordinate and execute the policies of its members.

Startups traditionally bring an MVP or Minimum Viable Product to the market to test interest and demonstrate they can build and deliver a solution.

In the Web3 world, the startup is part of a community and must test interest with that group.

This shifts the focus of building something that someone wants to building something that a particular group of people want.

DAOs bring a community together for a common purpose.

Their requirements are more specific and in some cases more demanding.

Those within DAOs are more collaborative and supportive and can be not only users but also investors and potential employees.

This creates a new dynamic in building an MVP.

It must not only solve the problem but also appeal to the people who have a stake in a cause and want to see it grow and develop.

The MVP in a DAO must be more compelling and aligned with the interests of the group.

The connection among members of a DAO provides more information and feedback than traditional communities.

Consider what your MVP must achieve to be successful in a DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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