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When you’re running a startup, securing a good first impression is the key to catching the attention of your potential customers. The most dreadful thing which can happen to a project is getting off on the wrong foot. This happened over a year ago when many Web3 projects were launched in the Metaverse boom following Facebook’s rebranding as “Meta”.

Rather than using the perfect opportunity to develop the introduced blockchain projects, most of them fell into the hype.

The cryptocurrency market is full of failing projects which have made big mistakes and have made investors and crypto stakeholders cautious. This has taken a toll on the crypto market, which has become stagnant in the past few months.

Crypto project developers have a lot to learn from the success of ChatGPT. It is an AI chatbot developed by OpenAI. The project has introduced a major paradigm shift in AI development. Since both the crypto and AI industry has the same problems, the crypto market can learn a lot from the success and development approach of ChatGPT to increase the adoption rate.

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The key challenge for Web3 today is that its focus on decentralized finance and computing has diverged its focus from the development of user experience. Lack of interest in the technology behind Web3 is another big challenge for the industry.

While most crypto developers have a clear vision in mind, they still lose their focus on the occasional crypto bull market. These trends keep crypto developers from focusing on developing specific crypto projects loved by crypto enthusiasts.

Key factors affecting the adaptability of new projects include UX (user experience) and interoperability optimization. Tangibility is another key factor when it comes to assessing the adaptability of new tech projects.

Although lots of people were already using AI in the form of Netflix and Google algorithms, they only noticed the AI technology behind these platforms when ChatGPT showed them how AO bots could generate useful content instantly.

Important Lessons for Web3 Developers

On the other hand, Web3 is still a mystery for many people. Users don’t even know how Web3 can help them in their daily lives. This is the key reason why many Web3 projects are struggling to make people care about them.

Let’s take a look at the lessons Web3 developers can learn from the success of ChatGPT.

While it is important for Web3 companies to have a grand vision of the future of the industry, they can’t carry the whole industry. So, Web3 companies need to build a product while remaining in the industry rather than making a fresh start.

Every Web3 project should have its unique selling point rather than making the Web3 sector it’s a key selling point. Rather than focusing on onboarding crypto outsiders, Web3 companies should focus on attracting users who already use Web3.

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Larry Wright

By Larry Wright

Larry Wright is a Pulitzer Prize-winning journalist and author. He is known for his insightful reporting and his ability to delve into complex issues with clarity and precision. His writing has been widely acclaimed for its depth and intelligence.