Tony Drummond's $205M Web3 Secret Unveiled & Game Changing Tips 💡

Gear up for another exciting edition of 3Beats, your go-to hub for the most riveting tales and insights from the Web3 cosmos and beyond.

It’s Wednesday - and we got some sauce for you this week:

• 🚀 From MicroPets to Moonbound Consulting: Tony Drummond's $205M Journey in Web3 and the Lessons Learned

• And as always - we give you a quick snapshot with our 3Bytes section about what’s happening in the World of Web3 this week

From MicroPets to Moonbound Consulting: Tony Drummond's $205M Journey in Web3 and the Lessons Learned

Discover the Success Story Behind MicroPets and How Tony Drummond's Experiences Can Help Navigate the Complexities of Web3 - 3Beats Interview lead by @blockalexk

The Web3 world is a fast-paced, ever-changing landscape that can be challenging to navigate. Tony Drummond, President of Moonbound Consulting, has spent over 20 years in the business world, honing his skills in sales, marketing, operations, and engineering. In this interview, Tony shares his journey in the Web3 world, from his early fascination with blockchain technology to his role as an expert in the space. He also reveals the success story behind MicroPets, the fastest-growing game-fi project launched in 2021, which reached a $200 million market cap and 70,000 holders in just three weeks.

I’ve followed Tony for quite some time now on LinkedIn, and he’s genuinely one of the best Web3 marketing minds I’ve seen out there.

His approach is simple, rooted in engagement, trust, and community building, and I think it’s why we got along so well when chatting.

We had an amazing chat last week, but here’s one of my favorite snippets from the interview:

Alex: What are your thoughts on the recent debates around regulation and the SEC's involvement in the crypto industry? As a consultant working with clients in the crypto space, how do you navigate these challenges and what concerns do you have about the impact of regulations on your clients' finances and operations?

Tony: You know, with everything that's been going on with regulation and the SEC's involvement in the crypto industry, it's been hotly debated as of recently. And it's not surprising that people want some level of regulation to help the industry mature and become more mainstream.

What concerns me is that we need to know whether regulation is right or wrong for the industry, and I want the same thing for my clients too. When they're raising capital, building a product, and making plans for their business, they need to know whether there will be any significant changes in regulations that could impact their finances or operations. It's concerning that projects could go through all this and end up paying to change things because of new regulations.

But I think the biggest challenge with regulation is that it's difficult to classify a new type of asset class like cryptocurrencies, which has its own unique features. A lot of projects have used tokens like security to raise capital, but that puts them at risk in the future. It's an area where a lot of my clients are navigating towards selling equity in their business and having a token side letter. This way, investors get the tokens with the equity, but they're not buying them.

Alex: It’s a smart approach, it makes sure projects have a way to realize revenue, which helps sustainability, and growth of course.

Without profitability, a project is dead. If the only way to make a profit is by selling the tokens, that's short-lived because investors will eventually sell the tokens once they unlock them. And if the project's enthusiasm wanes, everyone will be selling the tokens, leading to a decline in value. That's why I'm passionate and excited about tokenomics. It's a tricky and important area to navigate to make sure projects are setting themselves up correctly, with utilities and not just focusing on making a quick profit through selling tokens.

From the lessons learned through MicroPets to the insights gained from his current work with Moonbound Consulting, Tony shares valuable tips, tricks, and advice for those looking to dive into Web3 or start their own projects.

3Bytes is our shortlist of random Web3 news, quotes, ideas, and of course - humor:

1. New York, Berlin Tied for Second Place as 'Most Important Crypto Hub': Survey

Investment firm Greenfield's latest survey suggests that the crypto industry has taken a special interest in one particular European capital.

2. Biden administration reiterates desire for 30% tax on Bitcoin miners' electricity usage

The Biden Administration has reiterated that all digital asset mining electricity usage should be subject to a 30% U.S. federal tax.

3. Bitcoin Ordinals Surge to 3M Inscriptions, but Most Are Just Text

Over $8 million in fees have been paid to the network by inscription creators since their inception.

And that’s a wrap for this week! Moving forward, we'll hit your inbox on Wednesdays.

We’re always looking for more interesting founders to interview! If you want to chat, email [email protected] for more info.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.