"As a crypto founder, your market is not the set of people who want to make money. Thats not a market, thats just humanity"
We know this problem all too well in crypto. We have a growth toolbox filled with incentives mechanisms that tend to attract the wrong type of user.
Points, Tokens, Quests, and any monetary incentive that isn't correlated to product usage, or that gets people to use the product not because they need to solve a problem is bound to damage your retention cohorts.
And to the same extent, to create a false sense of product market fit.
Mert explains that the first thing you need to do is "to get very clear on who the ideal customer is".
Understanding your market's hair of fire problem and solving that is possibly the only sustainable way to find initial PMF.
"If your market is people who want to make money, you are not going to get PMF, because what is your product?"
Merts message hits home as Eigen Layer prepares for their airdrop.
Video Source: Mert Gives Advice to Crypto Founders | Instant Impact
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