🔮 web3 Stories #2 - Eliot Couvat

For the second edition of web3 Stories, I got in touch with Eliot Couvat, Head of Content & Community @CoinviseCo and writer at Eliot’s Crypto Newsletter (highly recommended of course).

Eliot has a great story of knowing nothing to being full-time in web3 in 6 months, also documenting the process and becoming a writer for people interested to know more.

You have done significant work on building Communities, first at Coinvise (Tools For Creators To Build & Operate Tokenized Communities) and now launching your course on Co-leap. What have you learnt to be the key ingredients in starting from scratch, i.e. how did you solve the famous ‘Cold-start’ problem?

I think overcoming the cold-start problem is definitely tricky, but in the case of Coinvise, I chose to start with creating content. I followed a simple 4-steps strategy to get initial traction, then analyzed our engagement and doubled down on what worked (If you want more info on this, I’ve written an article exploring more in-depth how I did.)

Web3 is a small world, and being well-connected also helped Coinvise take off. Jenil (Coinvise’s CEO) knew some founders from previous experiences, and we continued developing these relationships, resulting in collaboration, such as podcasts, articles, etc., which led to more visibility early on.

As soon as we got initial traction and a couple of members, we then developed our community by:

• Providing real value through non-financial incentives (e.g., spotlighting them in podcasts, in articles, making tutorials, giving free courses, AMA, etc.)

• Creating trust (this means jumping on 100+ 1:1 calls, being doxxed, etc.)

• Creating a globally recognized (through unique design) & respected brand (through partnerships) that people want to be associated with.

Co-leap aims at helping people learn together, merging online communities and education. Do you think in the long run this could substitute university degrees?

I believe alternative forms of education are significant. We shouldn’t see education as one block (from age 3 to 23) but consider education being a life-long journey.

I also love the idea of having a “Web3 resume”, and having the ability to prove on-chain that you have certain skills, and I believe platforms like 101.xyz or RabbitHole will become extremely successful.

Finally, from what I can see, credentials are less needed in Web3, and founders tend to hire people who are fast learners, risk-averse and ambitious. (But I know I’m in the Web3 bubble, and 90% of the world will still need university degrees.)

You worked and wrote extensively also in a book (The Social Token Revolution) about tokenization. Where do you think we are today and where do you think we will be in 5 years time with adoption, and do you expect there to be other ‘massive’ revolutions in this field?

We're still extremely early, but things are moving fast in Web3. Two years ago, there were barely any real applications for tokens. Today, Layer2 and sidechain are more widely adopted, allowing people to experiment at almost no cost, and we have a better understanding of communities & creators' needs. Platforms such as Coinvise, Guild, JokeDAO, or Mirror democratize access to tokens (NFTs & ERC-20s) and allow use cases that would be impossible in Web2.

Considering this, we might see mainstream adoption in 5 to 10 years, but we're just scratching the surface of what's possible with tokens today, and we still have a long way to go before seeing some Web3-enabled use cases in our daily lives. I think when crypto comes on mobile and brands will start to tokenize their intangible assets (e.g., community, brand, etc.) and introduce liquidity in private markets (meaning letting anyone buy their tokens), things will accelerate.

You have had significant experience in web2 - what drove you to jump full-time into web3?

First, I'm really aligned with Web3's values, such as ownership or freedom.

Second, I believe we're in the dawn of a new era. Growing up, I always admired people like Steve Jobs, Bill Gates, Elon Musk, and Jeff Bezos, who have leveraged the internet revolution to build empires. I always thought if I could be at the right place at the right time, I would do everything I could to get the most out of it, exactly as they did 20 years ago. Crypto will revolutionize millions of individuals' lives, and it's exciting to work in a space with people that'll build and shape the world we'll all live in in the future.

What are the most important lessons you’ve learnt in your path so far, on a personal level?

I'd say there are two main lessons I've learned over the past two years working in crypto:

1. Always be kind. I know it sounds cheesy, but I've really realized the power of kindness in Web3. It's a small space where everyone knows each other, and being nice can make a huge difference. Plus, the new talents joining the space are growing rapidly, and being nice/helping newcomers can lead to great opportunities.

2. Never give up. The power of compounding is crazy, and as long as you are consistent, you will be fine. I didn't come from a prestigious school, and I didn't work at a "prestigious" company. Yet, by posting content every day for two years and trying to provide value as much as I can, I now have the chance to work with some of the fastest-growing Web3 communities.

What do you think will be the next step for web3 to become more mass market?

We still have a long way to go before Web3 becomes more mass market. We’ll first need more user-friendly apps through better UI/UX & embedded education.

We’ll also have to find a way for Web3 to be more secure (still too many people get scammed) and develop a new narrative. The term Web3, for example, is slowly taking over Crypto. Web3 is a broader term that comes without the 2017 baggage of Crypto, which is too often associated with “scam” and “speculation.” Instead, the term Web3 is more reminiscent of the evolution of the internet as we know it today, solving the most pressing problems of Web2 platforms through Crypto mechanisms.

Finally, to become a more mass market, we need users to have a better experience on Mobile.

Do you think web2 companies will be willing and able to get DAO-like governance and practices, or given enough time do you envision for there to be a more ‘natural selection’?

I don't think Web2 companies will WANT to shift to Web3, and I don't believe they will BE ABLE to. Web3 is a complete paradigm shift, and it's very difficult (if not impossible) to turn a Web2 company into a DAO.

Second, the narrative is changing from DAO to Tokenized Communities because, in practice, very few DAOs are autonomous or decentralized. Web2 companies are already trying to leverage tokens (ERC-20s or NFTs), but we have yet to see the results.

How would you suggest solving the ‘drinking from the firehose’ problem when getting into web3 to avoid drowning in information or not being sure where to find it?

1. Focus on a niche (DAO, DeFi, Social tokens, etc.) and acknowledge you won’t ever know everything.

2. Don’t overthink it. From the outside it looks a lot but when you’re inside there’s not so much to know to have an impact in the space.

3. There are some “experts” for different sub-niches, and by following 5-10 ppl on Twitter, you can actually have a good grasp of what’s happening in Web3 (e.g. Rafa for community building, Li Jin for creators, Steph for decentralized media, etc.)

Are there any other projects /  DAOs you’re particularly interested in?

I like DAOs/projects that are doing new experiments and trying to push the space forward.

Some of my favorites:

• Radar (Futurethon, decentralized report)

• Folklore (decentralized Media)

• JokeDAO (bottom-up governance)

• SeedClub (very innovative with their token $CLUB)

• Safary (great example of community building)

That’s it for this issue, let me or Eliot know in the comments or on Twitter any feedback or questions!

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