Believe App
The Spaces is a discussion about the evolution and future of new cryptocurrency mechanisms for startups and technology-driven projects. The speakers delve into the vision behind the Believe platform, which aims to enable founders to fully own their projects while leveraging coin systems to raise funds in an efficient and accessible manner. The conversation explores the dynamics of using a decentralized approach to support innovation, emphasizing that traditional venture capital models may soon become less dominant. Several founders share their experiences of launching coins on the platform and the subsequent community support they received. They express excitement about the opportunities presented and the organic growth through community interaction and feedback. The participants also consider the potential for these mechanisms to reshape startup funding and growth strategies. Additionally, the conversation touches on the need for educating both creators and users in the crypto space to ensure sustainability and long-term success of projects.
Summary of Twitter Spaces Recording
Introduction
The host welcomed participants to the Twitter Space, explaining it was his first space hosted on the account. He introduced Imran from Alliance Capital and set the agenda to discuss their product and involve creators, followed by a Q&A session.
Background of Host
The host shared his journey, dropping out of school to build companies, starting with a social networking product called Monkey, followed by Simulate for simulating meat, and later exploring crypto through meme coins, which led to founding Clout and eventually Believe.
Discussion on Believe
- Thesis Behind Believe: The host explained the thesis of Believe as enabling founders to raise funds using coins due to increased efficiency in building products with small teams and less capital.
- Design and Components: The app consists of launching via Twitter and a Scouts program where anyone can coin tweets with the creator entitled to the majority of fees.
Founders' Experiences: Dupe and Others
- First Launches: Initial launches of Believe were slow but picked up momentum as the vision was shared.
- Dupe: Bobby, co-founder of Dupe, shared his experience accidentally launching a coin and how it gained traction and support quickly. Dupe focuses on furniture marketplace with millions of users.
- Community Engagement: The founders highlighted how launching on Believe helped in building a community and receiving feedback and ideas rapidly.
Future of Fundraising
The host articulated that eliminating venture capital middlemen might be more efficient, allowing the market to decide which projects get funded. The focus is on direct community support rather than traditional venture capital paths.
Additional Founder Insights
- Rahul: Commented on launching a trivia sports app and seeking feedback.
- Saba: Former VC, shared launching Horoscope app focused on authentic social interactions, experiencing explosive growth and engagement via Believe.
Community and Feedback
Imran and the host responded to questions from the audience, discussing incentives for creators to remain committed and sustainable, and collaborating with other builders and platforms.
Conclusion
The session concluded with the host appreciating the participation and announcing plans for regular spaces to discuss ongoing projects and invite founders to share insights.
Key Highlights
- Believe provides a new funding mechanism via coins for creators and builders.
- Rapid feedback and community engagement are crucial benefits experienced by founders.
- A positive reception from the crypto community is essential for the sustained growth of projects.
This summary captures the key discussions and perspectives shared during the Twitter Spaces session, offering insights into the product Believe and its impact on funding and community building for startups.