For those who haven’t read the initial post about The Nash Effect, you can read it here!
It serves as a base for this post. Here’s a quick recap.
The Flywheel Effect
The Flywheel Effect looks at the interesting phenomenon of compound energy effects created when a flywheel is set in motion. When a flywheel starts spinning, it develops a momentum of its own, making it easy to accelerate faster. Within the business context, the question becomes, how to keep the flywheel (Nash in this case) spinning only by using its own momentum?
I explained that staking your NEX is one of the growth loops that can help give the Nash Flywheel the first push.
Staking NEX to lower supply, which creates scarcity and increases prices, which will attract more users and build more liquidity over time, which, in turn, drives greater customer experience, bigger community, and higher profitability (staking rewards), which again increases user retention. Beautiful.
The compounding effect on “Collective Staking” efforts builds the initial speed of the flywheel during the first growth period of Nash when it’s officially launched. This effect is what I coin as “The Nash Effect” - the collective ‘push’ for the Nash Flywheel to help it get up and rolling. But as I stated, this isn’t the only ‘growth loop’ we can create and build. The viral spread of the referral code is another one.
However, now that we’re nearing the launch of the platform, I see an opportunity where we can drive another growth loop: Frontpage launch on Product Hunt.
Producthunt launch: Building a growth loop with the Nash Community.
You probably have seen the news of the approval for a money service license covering 49 states of the US. Next to that, the team will be keeping their July quarterly investor meetup in the US (Boston) as well.
Meaning it will be helpful to gain visibility and drive momentum with the early stage adopters based in the US. One of the ways how we can help to that is by making sure we get visibility on ProductHunt.
Product Hunt is a curation of the best new (technology) products, every day. It serves a user base of 1M+ early adopters (a lot of Silicon Valley people included) and lots of tech (and some crypto) interested. You can see this for example with the launch of Robinhood Crypto which gained a massive amount of upvotes (likes) and thus new users.
Launching successfully on Producthunt is mainly dependent on an already existing fanbase. Meaning, that we have a window of opportunity to Nash it! With the current community size we have so far with Nash - this should be something we can achieve.
My rationale for this growth loop is simple: More visibility = More users = more liquidity and trading = more profits = more staking rewards etc. etc.
I believe we can get a lot of visibility which will definitely help to build US interest and potential new users, but I’m keen to hear your input and feedback on this. If we believe this is something we can work on to make an impact, I will dedicate a post later in the coming week on an action plan for Product Hunt.
Besides all of this, looking forward to a great launch. This is what we’ve all been waiting for people.
Let’s Nash it.
Let me know your feedback! Thanks, Rodger.