This content originally appeared on HackerNoon and was authored by Isaac Joshua
Building a Web3 project and leading it all the way to the pivotal milestone of a token launch is filled with hardships, similar to any startup looking to raise funds. Historically, too many Web3 projects have rushed to launch their token without delivering any real value or demonstrating a practical use case. But even with a solid product-market fit and a clear rationale for using blockchain and launching a token, the journey remains complex and challenging.
To overcome these potential challenges, founders must first build a clear strategy and only then design the technical aspects around it. This is before diving into the heavy legal structuring, which includes defining the type of entity, specifying a jurisdiction, and ensuring regulatory compliance. After that, the focus shifts toward community building and marketing, arguably one of Web3’s most strenuous tasks.
Community first is a must
In Web3, communities act as evangelists, providing Web3 startups with loyalty that generates a more impactful buzz than traditional paid marketing. But building an engaged community is time-consuming and requires having a dedicated community manager to serve as both spokesperson and bridge between the project and its supporters.
Successful community building demands a heavy presence on social media platforms, transparent communication, and ultimately providing people with a genuine reason to care about your project. This requires consistent messaging, education, direct engagement through AMAs on X (for example), and creative incentives. Any respectable launchpad won’t onboard a project that doesn’t have an active and engaged community, as it indicates low demand, liquidity, and stability—all major red flags.
Whitepaper, pitch deck, and a clearly defined vision
Since Web3 is so dependent on community, a whitepaper serves as a detailed manuscript that outlines every aspect of the project and builds legitimacy with both launchpads and their communities. From defining the problem and describing how your project offers a solution to detailing tokenomics and the roadmap, a white paper is easily one of the most critical documents a Web3 team needs when applying for a crypto launchpad.
Responsible and reputable launchpads scrutinize every detail of a project’s whitepaper to assess if it addresses a real problem, provides a feasible roadmap, and demonstrates a deep understanding of the broader Web3 ecosystem. Without a clear, well-crafted whitepaper, launchpads will view your project as just another token with no real substance and a compelling reason to exist.
Whitepapers must demonstrate that issues such as security, regulatory considerations, and long-term sustainability have been well thought through. In an industry notorious for smoke and mirrors, a completely transparent whitepaper that goes above and beyond is the first step in getting the attention of a leading launchpad.
While a whitepaper dives deep into the technical and economic elements of a project, a strong pitch deck complements it by repackaging that complexity into a clear, compelling narrative. Launchpads typically have an endless list of companies to evaluate, and a pitch deck is an opportunity to showcase the project’s big-picture value while highlighting the market opportunity, competitive edge, and leadership credentials.
Together, the pitch deck and whitepaper give launchpads both the holistic view and the detail-oriented blueprint. They offer the launchpad’s decision makers a good starting point to assess a project’s true potential.
Product readiness vs. MVP stage
A common misconception in Web3 is that reaching the MVP (minimum viable product) stage is still not enough to enter the token launch phase. While an MVP product signals that the team has advanced beyond the ideation stage and is capable of building something tangible, some launchpads may view MVP stage projects as inherently riskier. Since the product likely hasn’t been tested, it may lack key features or may not have demonstrated the ability to scale or drive user demand. While some launchpads may hold this against the team, an MVP product can still be impressive or demonstrate the project’s ingenuity, creativity, or overall potential.
On the other hand, a completed product is much further along, featuring a functional platform, active users, and tested core components, providing launchpad decision makers with a bit more certainty. This provides a bit more comfort for launchpads, providing them with clearer evidence of a market fit and technical competency, and possibly removing some of the unknowns that inherently come with MVP-stage products.
While there is the belief that launchpads are more inclined to work with projects that have demonstrated product readiness, as it lowers the risk for both investors and end-users, a solid MVP product is more than capable of showcasing its potential. At the end of the day, a project’s vision, ingenuity, and overall potential will trump its development stage in the eyes of most launchpads.
Legal structure and team credibility
Launchpads take you seriously only if your project is a real, transparent legal entity that is registered (ideally in a crypto-friendly jurisdiction), compliant, and built with investor protections in mind. Come armed with documented legal opinions on your token’s status (utility, security, governance, etc.) plus clean, accessible paperwork—terms of service, privacy policies, and full tokenomics—for the launchpad’s review.
Much of a team’s credibility comes from showing it doesn’t cut corners. However, launchapds are also evaluating a project’s leadership for a proven track record of entrepreneurship or excellence in a given field, to limit risks.
Founders and key team members should have verifiable professional backgrounds, up-to-date LinkedIn profiles, and no suspicious history such as an association or involvement in a fraudulent project. A professional online presence, media interviews, and prior speaking engagements at industry events are additional confidence boosters. While these aren’t prerequisites, they certainly help improve a project’s odds of being selected. A team can boost credibility by highlighting any reputable advisors or investors, as this external validation helps build or expand trust.
Market fit and uniqueness
As in any industry, market fit and uniqueness are two of the most important factors for a successful and sustainable Web3 project. They are perhaps the two factors that stick out the most when launchpads evaluate prospective projects. A project with a clear market fit that addresses a real, demonstrable need within or beyond Web3 while adding a layer of uniqueness or originality will surely grab the attention of a launchpad’s due diligence team.
Launchpads will check to see that a project’s idea has been validated through user research and feedback. They will pay close attention to how it solves an existing pain point and then compare it with the competition. Launchpads also have the experience and industry insights to judge if a project genuinely brings something innovative to the table—be it a novel technology, a new user experience model, or a fresh concept for incentivizing crypto adoption.
From a launchpad’s perspective, unearthing and backing these unique game-changers means a higher likelihood of a strong token demand, user adoption, and lasting relevance. Launching a disruptive project that was able to raise a lot of money is the best type of PR for any type of crypto launchpad.
Projects that solve real-world problems in a new, or more efficient, way are the ones that stand a chance of making a real impact and therefore are the ones that launchpads look for.
Conclusion
Applying to a crypto launchpad isn’t only about having a vision and wanting a token launch to help fundraise that vision. It’s about demonstrating that your project is built on a solid foundation. From a clear legal structure and trustworthy team to a validated market fit and a unique value proposition, launchpads are looking for projects that have done their homework long before being contacted. Founders and executives who approach this process with thorough preparation, transparent communication, and a product that solves a real problem will likely gain the attention of some of the industry’s most respected launchpads.
This content originally appeared on HackerNoon and was authored by Isaac Joshua