A Little Introduction

When we first decided to open our shop in 2022, design agencies were a dime a dozen. What was less common, though, were shops with a special focus on the world of Web3. We're not gonna lie, it was a bit of a wild west situation – but we were excited to dive in and see what we could do.

Web3 Is Not an Island

One of the biggest challenges we faced early on was getting up to speed on the complexities of Web3. I was lucky to have had a head start in getting exposure to Web3 through my work at OKX, but even with that experience, it was clear that the space was moving fast and that we needed to be agile to keep up.

As we delved deeper into the world of Web3, we began to realize just how interconnected it is. The fundamental aspects of Web3, such as cryptocurrencies, non-fungible tokens (NFTs), blockchain analytics, and tokenization, create a foundation for being able to communicate effectively with potential clients and leverage when learning new things as the entire market evolves.

However, it wasn't until we started working with our first clients that we truly understood the importance of adapting to the ever-changing landscape of Web3. When we started in 2022, the pandemic was raging, governments were printing money, and VCs were handing out money like Santa Claus to projects. Everything felt rosy, and we were fortunate to work with incredible clients that we collaborated with, giving us an ARR of $500,000 in our first year of business.

But as the market started catching up and pricing in all the troubles governments were kicking down the road, that all changed. Our MRR quickly halved, and we were scrambling to get more clients to stay afloat. The key takeaway here is that adaptability is crucial in the world of Web3. We learned that we need to be prepared to pivot quickly in response to changing market conditions.

What's Special About You?

As we navigated the ups and downs of the market, we started to realize that our unique value proposition wasn't just about delivering high-quality design work. It was about our ability to deliver on promises and set expectations properly. We learned that transparency and communication are essential in building trust with our clients. We're not perfect, but we're always striving to do better – and that's what sets us apart.

Building and Growing Skills

One of the biggest challenges we've faced is finding the right balance between specializing in specific areas of Web3 and being generalists who can adapt to new and emerging trends. We've learned that it's okay to not know everything – and that it's better to focus on building a strong foundation in the fundamentals of Web3. From there, we can always learn and adapt to new developments and trends.

Finding Partners, Uncovering Wolves

As we've navigated the world of Web3, we've also learned the importance of being diligent when it comes to partnerships and collaborations. We've learned that due diligence is essential in avoiding partnerships that can harm our business. We've been fortunate to work with some amazing partners who have helped us grow and succeed – but we've also had our share of experiences with "wolves" who have tried to take advantage of us.

Managing Expectations

Finally, we've learned the importance of managing expectations when it comes to working with clients in the Web3 space. We've learned that clear communication and transparency are key in managing expectations and building trust with our clients. This means being clear and transparent about what we can deliver, and when – as well as being proactive in communicating with our clients and addressing any concerns they may have.

The takeaway

In our journey as a Web3-focused design agency, we've learned that success is not just about delivering quality work, but also about managing expectations, building meaningful relationships, and adapting to the ever-changing landscape of the industry. By focusing on our unique strengths, being diligent in our partnerships, and prioritizing transparency and communication, we've been able to navigate the ups and downs of the market and build a sustainable business. As we continue to grow and evolve, we hope that our experiences and insights can serve as a valuable resource for others looking to make their mark in the world of Web3.