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2022-10-04 16:45:45 Find the right employee in a single job interview: 5 insider tips

How do you select the best candidate for a job position – a real professional who will help your startup achieve success? In our new article, BDC Consulting’s Head of HR shares an exclusive method based on core competencies.

Our core competencies are paradigm, responsibility, engagement and efficiency. Here’s how to test for each during an interview.

• Paradigm: what drives a person’s decision-making in complex situations?
• Responsibility: whom do they blame for their difficulties and mistakes?
• Engagement: how do they talk about their job (emotion, level of detail, tone of voice etc.)?
• Efficiency: how do they talk about their work results vs. initial objectives – and how the results were achieved?

You need to test for each competence several times in different ways (abstract situations, actual work examples etc.).

Want to know more about this fascinating approach? Read the full article: https://cutt.ly/0V53M8G Open / Comment

2022-09-30 13:24:00 The US and Germany are the best countries for crypto projects & investors

Coincub’s quarterly country rankings are a great resource. If you can’t decide where to launch your crypto project – or where to move if you're a trader – that’s the first thing you’ve got to read.

Here our favorite tidbits from the report:

● Top gainers: Portugal and UAE, both up 4 positions since Q1 2022. UAE now readily issues licenses to exchanges and other crypto projects, and you can even avoid paying taxes. And Portugal has great tax incentives for traders and investors.
● Top losers: South Korea, Brazil, Pakistan, Belgium
● Top 5 best crypto countries: US, Germany, Singapore,
Australia, Switzerland

FULL REPORT Open / Comment

2022-09-29 15:13:54 How do you launch a P2E game in a bear market?

In our latest case study, we helped a gaming studio with 250+ million downloads launch an INO (Initial NFT Sale) for a Play-to-Earn game. Here are a few of the insights from our a massive round of research & competitor analysis:

• Community size & engagement is key, so you need a detailed community-building plan for 3 months or more;
• It’s best to split an INO into several rounds (a lottery, a closed whitelist sale & a public NFT sale);
• Hype should be created separately around each round;
• GameFi guilds are the best TA in terms of scalability & lead cost.

Would you like to know how we came to all these conclusions? Then check out the full version of the case study: https://cutt.ly/2VLhUgt Open / Comment

2022-09-28 19:45:11 No crypto — not very Web3

Apple now allows NFTs through applications listed on its App Store, which enables developers to sell non-fungible tokens in-app and new apps within which users may purchase NFTs.

What's the catch?
• Apple has applied its existing Web2 monetization structure, taking a 30% cut from app developers.
• All transactions must be in USD. Crypto is not an option.

A typical marketplace takes 2-3% of the transaction. Under Apple's rules, companies lose out heavily on each deal.

What’s the silver lining? Apple’s NFT move could put an $ETH wallet in every single mobile game, onboarding 1B+ players! Excited? Open / Comment

2022-09-26 13:58:07 How can you be sure of the direction in which your business should head? Competitive analysis is key to always be one step ahead.

Our latest case study points to an opportunity to boost net profit by 200-250% over a single year, should the client implement 80% of the improvements.

In our new article, we show you how to conduct a competitive analysis in detail. Check it out here: https://cutt.ly/xVOrOKp Open / Comment

2022-09-21 18:31:08 Top Influential Crypto Fintechs

5 of the top 10 most prominent fintech companies in 2022 are in crypto, according to a study by Utility Bidder. The researchers looked at valuation, funding, social following, and online visibility to calculate an overall fintech index score.

• OpenSea is ranked 2nd, the highest among the blockchain firms on the list.

• Other crypto firms in the top 10 include FTX, Chainalysis, Fireblocks, and Circle, ranked from 7 to 10.

• Robinhood was named the most prominent financial technology company, topping all other companies in terms of funding and Google searches in 2021.

The fintech sector is expected to be worth more than $171B in 2022, and the report even forecasts the figure will exceed $228B by 2024. Open / Comment

2022-09-19 18:30:54 Don’t make these mistakes when valuing a business

In the last post, we talked about the 3 main approaches to valuing a startup: DCF, relative & cost-based. But which one is better?

In our practice, DCF (Discounted Cash Flow) works best for crypto startups, because it accounts for both opportunities and risks. But there are some mistakes that we see projects make again and again:

• Wrong input data: you need to judge the market size, revenue growth rate, user base growth, etc. It has to be logical & based on real data, not just some optimistic idea.

- Wrong growth rate: it’s better to calculate based on a conservative growth rate. But too often startups plug in unrealistic values like 100% a year into the DCF model.

Overall, it’s best to use several scenarios & make several calculations – this will impress potential investors, too.

Finally, you can also use the relative approach to check the results of the DCF. But don’t rely on the relative method too much.

The post is based on our colleague's article. Check out our blog for more: https://bdc.consulting/blog Open / Comment

2022-09-15 14:15:39 How do you value a crypto business?

Before you ask venture funds for money, you need to have an idea of how much your startup is worth – a valuation. Based on it, you can negotiate how much of the equity or tokens to give away to the investor.

There are 3 main methods for valuing a business:

1) DCF: Discounted Cash Flow. Forecasting future money flows and bringing them to the present using discounting. You need to divide the company’s life into 2 periods: forecast (8-15 years) and terminal (further into the future & hard to predict). This is the most popular method.
2) Relative: selecting similar companies and analyzing their funding deals.
3) Cost-based: the money spent on creating a business. It’s not great for startups, though.

You can also put all three on a chart – it’s called a football field diagram.

To be continued – next time we’ll see which method is better and what valuation mistakes startups often make! Open / Comment

2022-09-14 15:49:26 Looks like Polygon is bringing Web2 companies into the crypto space

They’ve already secured partnerships with Stripe and NFL. Indeed, yesterday, they announced a deal with Starbucks – a $29B revenue company.

Together with Polygon, Starbucks is leveraging Web3 technology to enhance customer experiences by launching Odyssey: an NFT platform for earning and buying “stamps” that unlock exclusive coffee-themed experiences.

• Odyssey’s members will be able to play coffee-themed games called “journeys” which can earn them a “journey stamp” NFT. Some of the journeys will include challenges meant to deepen the user’s knowledge of coffee and the Starbucks brand.

• Though marketed as a Web3 experience, Odyssey’s users don’t actually need to own any crypto to pay Starbucks. Instead, users can purchase stamps directly via their credit cards, negating the need for a crypto wallet.

What are your thoughts on Starbucks + NFT? Would you take a sip? Open / Comment

2022-09-13 18:16:27 Did you know that Nigeria is a crypto hotspot?

Nigeria is one of the global leaders in crypto adoption. Surprised? But it’s true. Out of 216M people, 33M are crypto users – that’s 15%! And that even though the Central Bank banned bank transactions with crypto.

• Nigeria’s official language in English, 40% of the population are under 18, and there are lots of work migrants who need to send money home. These could be the main reasons why so many Nigerians use cryptocurrency.

• There’s also a cool study by CoinGecko where they calculated Google searches for ‘buy crypto’ and ‘invest in crypto’ in different countries, and Nigeria came out on top! Ahead of the UAE and Singapore, and far, far ahead of the US and UK.

We’re going to publish something very interesting on Nigeria soon – stay tuned! Open / Comment