TechFlow news: Li Jin, co-founder of the crypto fund Variant Fund, recently expressed on social media that she sensed frustration among some founders of consumer-facing crypto products during recent conversations. In the current environment, it seems the only way to drive product growth is by catering to speculation.
Li Jin believes that, at least in the Western world, the most pressing and widespread challenges people face are making money, finding love and connection, and overcoming boredom and ennui. Cryptocurrencies, being inherently tied to finance, have a unique advantage in appealing to users' desire for financial gain. They also address, to a limited extent, the needs for connection and entertainment—such as through online communities and on-chain media or entertainment.
She added that speculation is extremely powerful in rapidly driving user adoption. For example, a social app gaining tens of thousands of users over a single weekend is an extraordinary feat—whether in web2 or web3—and gives founders initial attention they can leverage to deliver additional value propositions.
