INTRO.

To keep it simple, the network effect is when a product becomes more valuable as a direct result of a growing userbase. The more people there are, the more valuable the network becomes. It's that simple. Network effects are extremely important when it comes to crypto and by now everyone involved should understand the value behind it. There's a problem though, only a handful of projects managed to sustain the increase in popularity, while the rest are still struggling to get noticed.

There's no formula to determine what should be done in order to achieve the network effect, or there are no funds to support the big marketing campaign. There are many factors to take into consideration, and even if all met, there's no guarantee it'll work. Sometimes the most superior products get unnoticed, being at the right place at the wrong time!

The network effect is a phenomenon whereby increased numbers of people or participants improve the value of a good or service. The Internet is an example of the network effect. Initially, there were few users on the Internet since it was of little value to anyone outside of the military and some research scientists.

To give more context, if no one was using a phone other than yourself, the phone would weigh no value.

Given that crypto lives online, the network effect is actually the only relevant leverage. Regardless of how superior the underlying tech is if there are no people using the tech, the tech becomes worthless. It's kinda easy to deduct.

Random Thoughts?

I don't even need to explain how important it is to have a decent marketing strategy, obviously, the lack of which got us here in the first place. What's the point of building if there's no one to use it? It's disappointing to see little to no interest in building a private attention-based economy while sharing the wealth with all the participants.

I still think we need to get out there and tell people what's possible. That's the only thing missing.

Dapps, such as @threespeak and @leofinance will play a vital role. We need more such dapps, once devs and tech companies see what can be done, the demand will fucking skyrocket. The narrative will be something like *if they did it with small investments, imagine what can be done with billions of dollars ready to support the project).

Reducing inflations, reinventing the way HBD is created, reducing power-down, etc, should be done/brainstormed along the way, but our primary focus should be to reach the audience and devs to start building. It frustrates me to see shitcoins, that have no actual use-case, sits on a $500 mil market cap. I would be willing to bet that 60% of the top 100 tokens are worthless shit, and yet, they strive and we don't.

And while we can argue how the system is not perfect(which it isn't), I don't think that conversion rate plays a crucial role when onboarding the masses. We need to expose the value we have, otherwise, the progress will stagnate.

The time has come, we have to go all in.

Posted Using LeoFinance ^Beta