StepN Co-Founder Discusses NFT's Role in Enhancing User Experience

Understanding the Significance of NFTs in Today's Market

In a recent presentation at the 'Growth Hacker Camp' event co-hosted by BeWater and PANews, Yawn Rong, co-founder of StepN, made a compelling case for the continued relevance of Non-Fungible Tokens (NFTs) in the digital landscape. Titled 'Make NFT Great Again: From StepN to StepN GO', his speech highlighted the multifaceted role of NFTs as essential communication tools, driving engagement and interaction within communities.

Key Takeaways from Yawn Rong's Speech

Rong emphasized that, contrary to prevailing assumptions, there remains a strong market demand for NFTs. He elaborated on how NFTs embody social attributes and inherent value that attract users. Here are some key insights from his address:

• User Experience Enhancement: StepN is committed to improving NFT design, which plays a crucial role in diversifying products and enhancing user experience.
• Underlying Value in Web3: The transition between coins and NFTs requires a time investment, yet it underscores the importance of underlying value in the Web3 space, fostering user engagement with different products.
• NFTs as a User Filtering Mechanism: StepN employs NFTs to filter user interactions, enabling the company to educate users on standardized behavior and provide unique experiences.
• Anti-Cheating Measures: A significant effort has been invested in developing anti-cheating systems to ensure tokens are not allocated to non-active users, preserving the integrity of the ecosystem.

Strategies for Sustainable Growth in Web3

Rong addressed several strategies crucial for sustainable growth in Web3, stating that:

1. Users must quickly grasp the utility of products to foster engagement.
2. Product safety must be demonstrable to build trust within the community.
3. Channels, experiences, and processes must be simplified to enhance participation.

He drew parallels with the decade-long consensus-building of Bitcoin to stress that durable consensus in social products takes time and dedication.

The Role of Activation Codes

The introduction of activation codes by StepN has proven effective, contributing to a stable economic model with a consistent daily user growth rate of 0.5%. This initiative ensures users maintain a genuine interest in the ecosystem, preventing harmful practices associated with token sales without active participation.

Event Overview: BeWater Growth Hacker Camp

The 'Growth Hacker Camp,' which took place from September 20 to 21 in Singapore, focused on growth strategies leveraging collective intelligence. By bringing together influential projects and venture capitalists, the event shed light on marketing fundamentals and featured discussions on:

• Personal branding
• Marketing strategies
• Community culture
• Organic growth
• Web2 user acquisition and retention

The discussions highlighted how these elements play a significant role in scaling businesses in the modern digital economy.

Conclusion

Yawn Rong's insights at the 'Growth Hacker Camp' pave the way for understanding the ongoing evolution and significance of NFTs within the broader context of Web3. As the landscape continues to develop, businesses must prioritize user education, atmospheric growth mechanisms, and community integrity to thrive in this dynamic market.