Cultural fit is a core skill for crypto project founders.

By Marco Manoppo

Compiled by: Luffy, Foreisght News

Crypto is a world that changes very quickly. Every cycle there are tons of new things to focus on, and now the pace is accelerating, and the narrative changes every few weeks. That’s why we all have problems, as Abril said, “No one can have all three: a full-time job in crypto, mental stability, and a real relationship.”

Okay, I've gone off topic, let's get back to the point.

Gone are the days when founders could simply deploy their tokens on a DeFi pool and get the volume and users they wanted, thus proving they were eligible for a CEX listing. Now, founders need to adapt and face new challenges. One of the most critical, yet often overlooked, challenges is not technical, financial, or operational, but cultural.

But what does crypto culture actually mean?

The term “crypto native” is often thrown around casually, like an MBA from a less-than-ideal school: everyone has it, but it means little.

It’s supposed to mean a deep and innate understanding of how crypto works, but few people really understand it. Being a crypto native is more than just reading a few white papers and making a few memecoin transactions. It means having an understanding that goes beyond the technical, financial, or operational aspects of how a project works. It’s the ability to sense the subtle but essential dynamics that drive community sentiment, power plays within an ecosystem, and even global regulatory changes.

If you lead a crypto project, cultural competence is no longer optional, it’s a core skill.

How Cryptocurrencies Are Different

Cryptocurrency is more than just technology, more than just finance, it integrates multiple disciplines. It is a unique intersection of technology, finance, game theory and even global politics.

• You can’t just understand the technology and the product without caring about the capital markets side until you go public like a traditional Web2 company.

• You can’t focus so much on token financial engineering that you neglect product development.

• You can’t understand how markets work on one side of the world without understanding the different power players and political interests on the other side.

Furthermore, all of this revolves around Bitcoin’s core ideology of financial populism and the sovereign individual, which is why you often hear “community is everything.” It is fundamental to the success or failure of a project.

It’s not enough to just build a great product; success depends on mastering the community dynamic. Founders must have a mindset that embraces the cultural underpinnings of cryptocurrency, not just the technology or finance.

While working at Primitive Ventures, I have a deep understanding of the cryptocurrency markets in both the East and the West, and often guide our portfolio founders through these dynamics. From understanding the latest consensus research released by Bay Area professors to evaluating the latest initiatives that a Tier 1 offshore centralized exchange wants to promote. Our work revolves around helping founders understand the global cryptocurrency landscape.

Founders who think crypto works in a single way are going to be in trouble. There is no one-size-fits-all approach in crypto, and mastering all of the above skills is necessary to succeed in crypto.

Dive into the crypto culture

Cryptocurrency founders, whether new entrants or veterans who have experienced multiple cycles, lack a true understanding of the current cryptocurrency culture. The former usually see cryptocurrency as an extension of their industry-specific knowledge, while the latter may be stuck in the "good old days" of cryptocurrency and unable to adapt to the changing landscape.

It’s human nature to cling to the past. But the problem arises when we shoehorn those ideas into the way things work today. How many times have you heard a former traditional finance founder talk up tokenization? Or a former mid-level manager at a large tech company pitch a consumer app while completely ignoring token economics? Too many times.

There is nothing inherently wrong with these approaches, but your understanding of crypto culture is what can make or break your business.

Some founders think they can delegate this task, hire a crypto native as a CMO or head of growth, and the problem is solved. This is only a short-term solution, and founders must be involved in the community, participate in the conversation, and understand the nuances of their field. You don’t have to be a full-time influencer or spend 4 hours a day posting on Twitter, but you do need to be a voice in the crypto discussion.

If you’re an experienced founder, then you might be able to sell your credentials or past experience to attract attention. But wouldn’t it be better if you could combine those credentials with a real ability to participate in the broader crypto culture?

Focus on industry trends

If you are not obsessed with what is happening in crypto, you are not a true crypto founder, you are an amateur at best. You cannot be a spectator in this space. Great biotech founders follow every new drug approval, every regulatory change, every piece of gossip coming out of big pharma. It is their pulse, their oxygen. Crypto founders need the same obsession. If you are not deeply informed about the latest protocol updates, regulatory decisions, and community squabbles, then you have a bigger problem.

This obsession is part of a larger shift across the industry. In 2024, everyone will be directly exposed. Duolingo built a direct relationship with users through TikTok, making a green bird an influencer. Coinbase wants to hire a Twitter expert for $200,000 a year to attract users. Gone are the days of paying advertising agencies to endorse celebrities.

Everyone knows that to be successful, you need to build a good relationship with your users.

In crypto, this is even more important because the community is more than just a part of your user base, it is your user base. It is your market, your marketing, your liquidity provider, your governance body, and your product evangelists. Ultimately, a founder’s ability to understand their users by directly engaging with the community is one of the most important, yet often overlooked, aspects of what makes a great founder.

Cultural fit is more than just a nice-to-have

Crypto founder culture fit is not a nice-to-have, it’s a necessity. If you haven’t fully immersed yourself in the space, understood its culture, and found your voice in the community, you’re missing a critical piece of the puzzle. You need more than just a great product or token economics, you need to be hands-on, immersed, and obsessed with the evolving landscape of crypto.

In short, be fully present and hands-on.