7 Lessons for Success in Web3 Startups on Solana: Practical Strategies Learned from 500 Rejections

Based on Rishabh Gupta’s experience, here is a summary of core insights for Web3 entrepreneurship.

The Trap of Complex Technologies and Practical Products

The author’s experience spending years on infrastructure projects that ultimately failed suggests common pitfalls many Web3 entrepreneurs fall into.

They believed that convincingly explaining cutting-edge technologies like “zkML (Zero-Knowledge Machine Learning)” and “zk Voting” during VC meetings would directly lead to business success. However, in reality, most of these advanced technical concepts have seen little market application even several years after implementation.

Breaking free from the false equation that complexity equals reliability is the first step in Web3 entrepreneurship.

Until the author experienced about two years and over 500 rejections in fundraising, they held the fixed idea that infrastructure building was the only path to success in the crypto industry. Through this painful lesson, they shifted focus to consumer product development by 2025.

A New Direction Indicated by the Solana Ecosystem

The rise of Solana has significantly changed the valuation metrics in the Web3 industry. Success here is not about fleeting trends like Meme coins but about real use cases and profitability. Speed, decentralization, and sustainable business models are prioritized.

Through seven months of developing consumer applications on Solana, the author identified seven practical strategies, which are shared here.

Strategy 1: Target Open-Minded Generation Z Users for New Experiments

In growth strategies for consumer crypto products, segmenting users by age is extremely important.

A 2024 survey by the Consumer Technology Association shows that 86% of Generation Z (ages 11–26) consider technology central to their lives, a higher percentage than any previous generation. They own more devices and tend to spend more on tech products.

They are less resistant to new applications, unfamiliar features, and changes in habits, and are rich in experimental spirit. Conversely, users over 25 require very strong incentives to adopt new workflows.

Products designed for the age group around 20–21, where social activity peaks, naturally possess high viral potential.

Strategy 2: Design Products That Serve as Marketing Channels

When operating with limited marketing budgets, the product itself must be the most important channel for traffic acquisition.

In the crypto industry, this “virality” is especially crucial. The reasons are simple: KOL marketing is very expensive, trust levels are low, and all stakeholders seek incentives.

Embedding reasons within the product that encourage users to share spontaneously with friends and communities can generate organic promotion without burning advertising funds.

Strategy 3: Respond Quickly to User Requests

When users report issues or bugs, especially those that hinder usage, they should be addressed immediately.

In the past, the author applied patches after business hours. However, when a user messaged, “If this feature isn’t available, I will switch to a competitor,” they realized the situation was serious.

Once users migrate to competitors and habits form, it becomes nearly impossible to win them back. The ideal response time is within 2–5 hours.

If multiple users request the same feature and implementation is feasible, aim to develop within 2–3 days. Communicate that the feature was implemented based on user feedback and offer rewards to build deep trust. Users will start feeling the product is “their own,” and this sense of belonging can be a powerful force in early-stage businesses.

Strategy 4: Don’t Overlook the Importance of Application Names

Though seemingly small, many entrepreneurs (including the author) fail here.

Application names should have high recognition and be easy to spread verbally. The author’s previous product, “Encifher,” was very hard to remember, and even investors and partners misspelled it when creating group chats.

Renaming it to “encrypt.trade” solved these issues by being simple, memorable, and stylish. The application name is the first step in brand recognition and a critical early decision in startup development.

Strategy 5: Essential User Communication Despite Difficulties

Discovering and building relationships with early users is extremely challenging, especially for projects outside current hot topics.

During a period when privacy-focused initiatives were not yet gaining attention, the author cold-messaged about 1,000 people. The reply rate was only about 10%, and only 3–4 people provided substantial cooperation.

Effective cold DMs have a certain structure:

• Start with a warm greeting
• Highlight funding status or transaction volume at the beginning
• Clearly explain how they found you
• Include friendly, natural calls to action
• Never forget to follow up

Since the crypto community is rife with scams, reply rates to DMs are naturally low. This is normal; persistence is key.

The goal at this stage is not to acquire 1,000 users but to sincerely address challenges, secure 10–20 early adopters willing to try the product, and provide honest feedback. These early users will become your strongest support system, helping you overcome many initial bugs.

Strategy 6: Rapid Iteration to Keep Up with Market Changes

The crypto industry is constantly evolving, and user attention spans are very short.

It is essential not only to listen to user feedback but also to analyze their actual behavior patterns:

• What are users repeatedly doing?
• What workarounds are they adopting?
• What are they currently willing to pay for?

Many business ideas are theoretically excellent, but if users are unwilling to pay, survival is impossible.

Strategy 7: Intuitive, User-Friendly Website Design

As a developer, hundreds of hours spent on a product make its features seem “obvious.” However, for industry newcomers, it is a completely unknown world.

Avoid introducing new terminology or complex processes; minimize clicks, and ensure the core value proposition is visible within five seconds of entry.

The Essence of Entrepreneurship: The Boundary Between Web3 and Traditional Models

Developing consumer crypto products is exciting but also a difficult path.

The priority for success is not perfect technical skills but rather rapid iteration, user-centric thinking, and practical marketing skills. This is a completely different paradigm from B2B ventures.

The Solana ecosystem exemplifies this new value perspective and provides an ideal testing ground for entrepreneurs.