Just like Covid, new business models can originate from very ordinary phenomena - which few people notice. Over time, however, when all the indispensable elements are met, those models will explode and make an enormous change; its influence can lead to a historical and global transformation.
Now let’s go back with the tipping point theory - Malcolm Gladwell’s The Tipping Point
According to Gladwell, there are three factors that determine the critical mass, or a tipping point, for a product or business idea:
- The Law of the Few
- The Stickiness Factor
- The Power of Context
I. The Law of the Few
According to this theory, the success of a Blockchain project depends heavily on the participant of three groups of people:
Maven - Experts
They are experts in blockchain development, art director, UX, UI designer, tokenomics scientists, game designers…These people have excellent expertise in their fields. They are responsible for sharing information and knowledge in their area of expertise. Maven will be the founders, project development team members, and advisors.
Là các chuyên gia về blockchain developer, art director, ux, ui designer, tokenomics scientist, game designer… những người này có các hard skill xuất sắc ở lĩnh vực của mình. Họ có trách nhiệm chia sẻ thông tin và kiến thức ở lĩnh vực chuyên sâu. Maven sẽ là các founder, team member phát triển dự án và các advisor.
Connectors know a lot of people. They gain their influence not only through their expertise but by their position of being highly connected to various social networks. These are individuals that people gather around and have the potential to communicate to introduce and support new ideas, products, and trends.
Connectors/Messengers often are Venture Capital or Individual such as KOL Investor, Market Makers who are invited to participate in Seed/Private/Strategic Funding rounds.
These are individuals who are naturally persuasive. They are charismatic and their enthusiasm creates an attraction for those around them. They don't need to try to convince others to believe in something or to buy something — it happens in a subtle and natural way.
They are Retail Investors who know the project through whitelist, airdrop, or public sales. When the Retail Investor decides to join the project, they automatically become the most dedicated sales staff on the planet.
A quick note: The importance of these three groups of people to the Blockchain project are equal, there are some projects that have exceptional Maven team but are still frozen without a Messenger, whereas some projects are still only on the paper but Salesman actually turn it to the (temporary) undeniable success (PI, right?)
It explains the reason why Mavens (project founder, CEO, members) are only accounted for 10-25% of the projects, differently compared to traditional companies with 100% business depending on Maven and Messenger.
II. The Stickiness Factor
The stickiness factor is a unique trait that makes the project or token, stick to the community mentality, affecting their behavior - if a blockchain project could gather a collective community of Mavens, Connectors, and Salesman.
If you are a crypto holder, you would spend days and nights researching and following the projects. It is also considered as “The Stickiness Factor”’ behavior.
If Mavens, Connectors, and Salesman can do the exact same things to the community, the project can reach the full requirements to get to the “Tipping Point”
III. The Power of Context
Axie is a game company like many other companies, Coin98 can also be called a Media company like VCCorp, Yeah1, Zing...but why are they so explosive?
The third major factor that contributes to the "Tipping point" of a business model is the "Power of Context".
The power of context refers to the environment or historical moment in which the trend is introduced. If the context is not appropriate, the tipping point is unlikely to occur.
Axie came just in time as NFT becoming mainstream in the crypto market. The price of Coin98 increased rapidly because the Connector/Salesman is doing a great job. And essentially, the Mavens of Axie, Coin98 are all fully focused. I talk to the CEOs sometimes and I feel it clearly.
“NFTs” has exploded in popularity around the world, the speed of crypto adoption grows immensely while other traditional jobs are paralyzed during Covid lockdown.
Is there any better context for Blockchain startups?
Conclusion <— “Vital”
RADA is not established with the only purpose of finding the potential projects for RADA’s members, RADA can be our own project of Blockchain DAO.
RADA has the right model for a Blockchain company, the Power of context, and the Stickiness Factor.
The question will be, can we together make it with RADA?
Please share your thoughts in the comment below.
Based on that Hung will listen to get the most suitable model for RADA organization.
PS: Slide of The Tipping Point theory is attached for those who need it.