Paused crypto startup development, looking for a way to not let it go to waste

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Empiric

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May 25, 2023
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A few months ago I found this community and I wanna first thank you for the wealth of knowledge I've gotten from you.
~A year ago my long time partner reached out to me about a partnership. He had the idea for a marketplace platform, we brainstormed and stitched a doc describing all of our ideas and we came up with a social marketplace where you trade real items and services for crypto. The social aspect would give us moat and make users trust other users more. I've got in touch with my vetted team, gave them our doc and time to build it. ince I was busy with my other work I let my partner handle marketing, early business development and legal stuff.


The problem starts here; 2 months ago my partner stoped responding.
Not just me, I tried to get in touch with him through mutual connections with no success.
I don't know yet what happened to him but I'm sure he's not just ghosting me or trying to scam me in some way.
I told them to stop working on it, now I'm left with a fairly advanced codebase, and without a partner who was passionate about this project.
I don't wanna continue working on this since I have more on my table than I can handle rn, I also don't wanna sell the whole idea, brand etc in case this get resolved.


Does anyone here have similar idea for a crypto platform and is looking for a cofounder?
I could use the existing resources(backend codebase and architecture, team etc.) to build something different, but this time faster.
You can DM me if you really don't wanna share the idea in the comments.
 
What's your marketing budget?

I hate businesses where you have to do 2 things: Get sellers/merchants on, and get customers to said merchants. Can't see it getting off the ground tbh.
 
Empiric said:
Empiric said:
A few months ago I found this community and I wanna first thank you for the wealth of knowledge I've gotten from you.
~A year ago my long time partner reached out to me about a partnership. He had the idea for a marketplace platform, we brainstormed and stitched a doc describing all of our ideas and we came up with a social marketplace where you trade real items and services for crypto. The social aspect would give us moat and make users trust other users more. I've got in touch with my vetted team, gave them our doc and time to build it. ince I was busy with my other work I let my partner handle marketing, early business development and legal stuff.


The problem starts here; 2 months ago my partner stoped responding.
Not just me, I tried to get in touch with him through mutual connections with no success.
I don't know yet what happened to him but I'm sure he's not just ghosting me or trying to scam me in some way.
I told them to stop working on it, now I'm left with a fairly advanced codebase, and without a partner who was passionate about this project.
I don't wanna continue working on this since I have more on my table than I can handle rn, I also don't wanna sell the whole idea, brand etc in case this get resolved.


Does anyone here have similar idea for a crypto platform and is looking for a cofounder?
I could use the existing resources(backend codebase and architecture, team etc.) to build something different, but this time faster.
You can DM me if you really don't wanna share the idea in the comments.
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In which coding language is the back-end built? I am a software engineer myself and have partners that could market / sell such a project.
 
Chonsai said:
Chonsai said:
Social marketplaces are pretty tough competition (e.g. Facebook). Had you guys figured out any USP?
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We were targeting specific niches, mostly p2p rather than bigger businesses2c. Escrow, we looked at the current competitors and improved buying/selling workflow and how traders connect, we did some research on existing solutions and were trying to build something without the flaws of their products users were quite loudly talking about online

CyprusLawyer101 said:
CyprusLawyer101 said:
maybr ownership matters with yoir rx partner shouod be resolved prior to forming new arrangements
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We had a very good relationship before he diespeard, his equity was not an issue, I'm sure of that

polonieth said:
polonieth said:
What's your marketing budget?

I hate businesses where you have to do 2 things: Get sellers/merchants on, and get customers to said merchants. Can't see it getting off the ground tbh.
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Well, that's the problem with any community-driven products, there is always going to be a cold start problem when working on something like that. We were in contact with professionals with a very good network of sellers and influencers from our niche. I totally understand your skepticism but you gotta try, we both believed we could do that with our experience.

Cavaliere said:
Cavaliere said:
In which coding language is the back-end built? I am a software engineer myself and have partners that could market / sell such a project.
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Typescript

Last edited: Sep 3, 2023
 
The competition is so great in this space right now. Im curious to know why you believe the codebase is advanced. I've seen people claim the same, spent 10s of thousands on code that can be oursourced in the east for pennies on the dollars.

What is your personal techincal ability?
 
I might be interrested in implementing it to our existing project (can be a copy for a single country) for a share of our company but i would need more information what kind of features it has and if it would fit our agenda.
 
Having burnt myself on 2 sided marketplace ventures, I come to the painful conclusions they are very tough unless you have a few millis to put into marketing to your niche. The tech is the tiny problem, network effect the big one.
 
JackAlabama said:
JackAlabama said:
Having burnt myself on 2 sided marketplace ventures, I come to the painful conclusions they are very tough unless you have a few millis to put into marketing to your niche. The tech is the tiny problem, network effect the big one.
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traffic is always king
 
369 said:
369 said:
I might be interrested in implementing it to our existing project (can be a copy for a single country) for a share of our company but i would need more information what kind of features it has and if it would fit our agenda.
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thank you for your offer but I'm not interested in that

JackAlabama said:
JackAlabama said:
Having burnt myself on 2 sided marketplace ventures, I come to the painful conclusions they are very tough unless you have a few millis to put into marketing to your niche. The tech is the tiny problem, network effect the big one.
Click to expand...
Click to expand...
the cold start problem by Andrew Chen - read it, maybe it will help you in the future
 
If this can help you, you have to find already created company, but i don't know in you case, how this can help you. Maybe to continue with your own project and sole ownership.?
 
I had a similar idea but for P2P forex using smart contract escrow. The forex industry needs to be disrupted from the banking cartels and govts, they're gouging and making a killing.. plus this was one of the promises of crypto. If your escrow trade is solid and open to a pivot, this would be interesting.
 
pieceofmind said:
pieceofmind said:
I had a similar idea but for P2P forex using smart contract escrow. The forex industry needs to be disrupted from the banking cartels and govts, they're gouging and making a killing.. plus this was one of the promises of crypto. If your escrow trade is solid and open to a pivot, this would be interesting.
Click to expand...
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You got telegram?
 
pieceofmind said:
pieceofmind said:
I had a similar idea but for P2P forex using smart contract escrow. The forex industry needs to be disrupted from the banking cartels and govts, they're gouging and making a killing.. plus this was one of the promises of crypto. If your escrow trade is solid and open to a pivot, this would be interesting.
Click to expand...
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What's the point of Forex when you can just use stablecoins

I can't remember the last time I did a international transfer personally
 
Empiric said:
Empiric said:
We were targeting specific niches, mostly p2p rather than bigger businesses2c. Escrow, we looked at the current competitors and improved buying/selling workflow and how traders connect, we did some research on existing solutions and were trying to build something without the flaws of their products users were quite loudly talking about online


We had a very good relationship before he diespeard, his equity was not an issue, I'm sure of that


Well, that's the problem with any community-driven products, there is always going to be a cold start problem when working on something like that. We were in contact with professionals with a very good network of sellers and influencers from our niche. I totally understand your skepticism but you gotta try, we both believed we could do that with our experience.


Typescript
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How is it going with your project?
 
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