Product-market fit (PMF) refers to discovering how a product satisfies demand in the market. This can range from diverse to very niche use cases. Discovering how early adopters can utilize an emerging product is essential to discovering growth opportunities. Sometimes fit is not found, but that’s okay as you can then gauge other opportunities to scale, or pivot audiences entirely.
There is no one right answer when discovering PMF, but rather strategic inferences that you can test daily. With cryptocurrency, this whole process is incredibly unique and often faces scrutiny. Furthermore, it is not fair to compare the success metrics of a Web2-oriented company to a Web3 one. We’ve seen community building be done in ways that are totally decentralized, leveraging an entirely new set of networks that can give us insight far beyond what we previously were accustomed to.