How To Be A Startup Without A Market

In a recent introspective exploration by Dmitry Mishunin, founder & CEO at HashEx Blockchain Security, the dynamics of the Web3 and blockchain market are examined. Amidst the volatility and the uncertain economic landscape of Summer 2023, Mishunin sheds light on the overarching challenges and opportunities within the blockchain sector. Notably, an insightful conversation with an IT business expert challenges the very existence of a "blockchain market," provoking thoughts on the discrepancy between the asset cap in the crypto world and the substantially smaller services cap.

Mishunin argues that while there may not be a recognized "market" in conventional terms, the blockchain space presents unique opportunities for foundational growth. He draws parallels to past technological and industrial revolutions, suggesting that seemingly non-existent markets hold the potential for substantial future growth. This perspective leans on the notion that early pioneers in these nascent fields can, in fact, carve out significant niches for themselves, potentially outpacing established corporations in other sectors.

The discussion then shifts to the strategy of navigating a nascent market, likened to distinguishing between hens and roosters in poultry farming. Mishunin highlights the importance of intuition and practice for startup founders, emphasizing the need to develop a keen sense for identifying and capitalizing on early market opportunities before they are widely recognized.

Concluding, the blog post underlines the dual routes to market success: innovative disruption and the expansion into new, unchartered territories. Despite the inherent uncertainties, the blockchain market, either as a tangible entity or a concept in the making, holds promise for those willing to explore its depths.

For individuals intrigued by the evolving landscape of blockchain and Web3, diving into Mishunin's perspective offers a thought-provoking view on navigating these complex waters.