StepN founder interprets the social value of NFT, emphasizing Web3 product design and continuous rise

The co-founder of StepN recently delivered a speech at an event, discussing his views on NFT and Web3 social products. He believes that NFT remains an excellent communication tool, possessing inherent social attributes and value. StepN is dedicated to improving the quality of NFT products to enhance user experience. He emphasized that the Web3 industry requires a deeper value proposition, and well-designed NFTs can bring diversity to products.

The speech mentioned that the conversion between Coin and NFT requires time investment, for example, it takes about a month for virtual shoes in StepN to upgrade from level 0 to level 5. NFTs can also effectively filter users, and StepN has standardized user behavior through continuous user education while providing a unique experience.

In order to maintain a healthy ecosystem, StepN has invested a large amount of resources in developing an anti-cheating system to avoid misallocating resources to users who may harm the economic model. In addition, they have introduced an activation code feature to ensure a stable daily growth of 0.5% in the user base, thereby building a stable economic model.

Regarding Web3 social products, the co-founder pointed out that users need to have a basic understanding and interest in such products. Product design should focus on quickly attracting user attention, showcasing low-risk characteristics, and simplifying the usage process. He emphasized that a deep understanding of the product and environment is crucial for targeted design.

Finally, he emphasized the importance of sustained growth for social products. Without sustained growth, it is difficult for products to establish consensus, and the formation of consensus takes time. He used Bitcoin as an example, pointing out that its consensus formation process lasted for as long as ten years. This insight provides valuable ideas for the long-term development of Web3 projects.