Without a doubt, launching your own Web 3.0 project from scratch takes a considerable amount of time and effort. It takes weeks to just code your own dApp (decentralized application) and the code still has to be audited for security reasons.
But what if you could outsource that?
Adam Ihsan saw a golden opportunity and he quickly got to work. “In Sept 2021, I pulled together a simple brand guide and set up a website for SUBX. I did up the logo on Canva and built the website on WordPress. I made an MVP of the dApp building platform using Typeform and Zapier.”
SUBX is a no-code dApp builder platform. They empower web3-enabled businesses to deploy dApps in a fast and cost-effective manner.
It allows projects to choose from a range of pre-built dApp templates like staking or farming and launch it in as fast as 3 working days.
Trusted by over 50 projects
The rollout of SUBX was largely successful as it gained traction quickly, with a large number of token projects tapping into the platform to launch their own dApps.
“More than 50+ token projects used our platform to launch their dApps. We run on a yearly subscription model and crossed over six digits in revenue within the first few months of launch.”Adam Ihsan, Founder of SUBX
Adam added that SUBX managed to set up a small satellite office in Lisbon last Christmas so that they could have a Europe representative.
“Having a presence in another continent within the first few months of launch was pretty cool and exciting.” Adam shared.
Getting Hit By The Bear
Like many other Web 3.0 companies, SUBX is also heavily affected by the current bear market. As it is a blockchain service provider, it heavily depends on the other projects to do well.
“Most of our customers are early token projects (essentially startups). Many of our customers are barely surviving this bear market, which is terrible for us.”
“We expect our churn rates to be on the higher side, not because our customers do not like our product, but because our customers might not exist one year from now. We are developing enterprise products and diversifying our product offerings to mitigate this issue,” said Adam.
Scams and targetted attacks
Crypto is still relatively new compared to other industries and the current rules and regulations are not fully developed yet. Scammers take this opportunity to scam users online and even corporate entities like SUBX are not spared.
Adam shared that SUBX hired KOLs and micro-influencers to promote their platform and brand but there have been a couple of times where payments were sent over but they did not receive the promised services.
SUBX was also a victim of a vicious coordinated corporate email phishing attempt. They have now added an additional layer of security and due diligence processes to minimise the chance of getting compromised.
Moving forward, SUBX is currently working on upgrading its dApp builder platform. It will move from its current v2 which requires manual work from in-house developers to v3 where everything will be fully automated and highly scalable.
“My goal is always to develop SUBX into the web3 equivalent of Wix and Squarespace – instead of building websites, we are empowering businesses to build dApps.“
Adam welcomes all to the SUBX office for coffee! It is located in Jurong East, Vision Exchange Building.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: ChainDebrief