From Minimal Viable Product to Minimal Viable Community
“Web3 has flattened the power hierarchy and changed the dynamics of the network. Consumers aren’t just buyers in the market — they’re shareholders. They now care about the well-being of the companies they buy from, even if it’s a startup.”
“The buying process isn’t as simple anymore. If consumers want a product from a promising web3 initiative, they’ll need to acquire products by investing in the project.
So now, the firm isn’t at the top of the buyer-seller relationship. They aren’t cutting-out consumers from development, selling them a basic product, then tinkering with the product until it reaches the consumer’s standards. Rather, they’re integrating the consumer in the development process. As a result, the Minimal Viable Product ethos is being thrown out the window.
Enter Minimal Viable Community: A concept linked to grassroots initiatives. You could think of it as crowdsourcing. It’s all about curating community and inspiring a community-owned business model in the new and improved web3 firm.
It isn’t as easy anymore for startups. They can’t just target the consumer’s needs; They need to involve the consumer, the developer, and the creator in the company’s processes and decision-making. Building a Minimal Viable Community is all about rethinking the “we” mentality in the business ecosystem.”