Pioneers’ insights for new Web3 professionals

Entrepreneurs and professionals eyeing Web3 are likely both enthusiastic and wary. While seeming “overnight success” stories are alluring, there’s also no doubt that the crypto and blockchain industry has seen its share of bad actors. Further, the unfamiliarity of the industry’s technologies, methods and philosophies can be daunting to a newcomer.

The members of Cointelegraph Innovation Circle are crypto pioneers who’ve played a significant role in scouting and forging a path ahead for those who are just now entering the industry. Below, 14 of them discuss the details and truths they wish they’d known when they first entered crypto and blockchain. Tap into their experience to launch strong into Web3.

Don’t expect overnight success

Despite the quick pace of the crypto ecosystem, it’s rare for success to arrive overnight. While we’ve certainly seen projects exceed anyone’s wildest dreams, the majority face the uphill challenges of a crowded field and shifting public sentiment. For true believers, this is common knowledge often won through sober experience. Therefore, it’s wise to temper your expectations and plan for rainy days. – Oleksandr Lutskevych, CEX.IO

Nurture your community

Community is the ultimate competitive edge in Web3; it is the most important thing to focus on. Your community adopts your products early, gives you feedback to reach product-market fit, acts as a distribution channel and actively participates in making everything about your project better. A project with a strong community can weather any kind of storm. – Abhishek Saxena, Polygon Technologies

Embrace your unique skills

Reflecting on my Web3 journey, key lessons emerge. First, you are not too late to get into the evolving Web3 space; ample opportunities persist. Foundational reading, like Satoshi’s paper, is crucial, as is grasping key terms. Contrary to the tech-only myth, Web3 values diverse skills, including marketing, community, legal and finance. Embrace your unique skills; they’re vital to Web3’s success. – Sandy Carter, Unstoppable Domains

Protect your reputation as an asset

Make no mistake, there are a lot of bad apples in this industry. This has been, and continues to be, a shock to me. I’ve learned to live with it because I don’t expect the industry to self-regulate anymore. My advice is time-tested: Your reputation is an asset. How you trade on it is up to you. There are projects that don’t cut corners and are forging new ground; I believe mine is one. Keep your eyes open. – Stephanie So, Geeq

Prepare for the speed of regulatory evolution

One thing I wish I’d known is how rapidly the regulatory environment can change and the significance of being adaptable. The legal frameworks around crypto and blockchain are continuously evolving, and a keen understanding of global regulations and compliance from the start would have been incredibly beneficial in navigating the complex Web3 landscape more effectively. – Tomer Warschauer Nuni, Kryptomon

Prioritize security at every step

It’s crucial to prioritize security at every step, from understanding best practices for securing wallets and private keys to thoroughly vetting projects and contracts before getting involved. The crypto and blockchain industry is full of potential, but it’s also a space where being informed, cautious and patient can make a huge difference in your journey toward success. – Myrtle Anne Ramos, Block Tides

Avoid emotion-driven decisions

As you navigate crypto and blockchain, prioritize deep learning over quick wins. The industry’s pace demands a solid foundation for sound decisions. Equally, respect the market’s volatility. While the allure of innovative projects is enticing, the landscape is ever-shifting. Approach Web3 projects with diligence and avoid emotion-driven decisions to ensure stability and success. – Maksym Illiashenko, My NFT Wars: Riftwardens

Cultivate a healthy skepticism

Stepping into Web3, I quickly realized the importance of discernment. Amid the buzz and hype, I wish I’d known how to sift the genuine opportunities from mere buzzword allure. Newcomers — especially those from non-tech backgrounds — must cultivate a healthy skepticism. Dive deep, question trends and remember: In this industry, substance always outshines sparkle. – Tiago Serôdio, Partisia Blockchain

Keep thinking ahead

Act now, but plan for tomorrow. Instead of just chasing the latest trends, Web3 newcomers should dive deep into their research to figure out which big trend might be coming up next. Be grateful for moments of instant gratification, but always stay humble and, like a chess player, keep thinking ahead. – Wolfgang Rückerl, ENT Technologies AG

Explore Web3 in its entirety

The Web3 space is still very much in its infancy. Therefore, the opportunity to explore has never been more enticing. Fully embracing the space for what it has to offer should be a priority, as adoption and future developments are…