€50,000 Founder Bonus: Freed from Bureaucracy, Focused on the Web3 App

You’re wondering how the Web3 project comoon secured €50,000 in funding so quickly? The founders needed one thing above all: complete focus on developing their community app. This is exactly where the collaboration with nxt milestone comes in. We took over all the bureaucracy and filed the application for the Founder Bonus, allowing the founders to concentrate on their core business.

About comoon

comoon develops a web application that enables the long-term and sustainable development of Web3 projects and their communities. Often there is an oversupply of data from various platforms like Discord and Twitter. Due to the volume of data and time constraints of community managers, they are often unable to evaluate and interpret it. comoon’s dashboard provides the ideal foundation for efficient community management. This allows community managers to react quickly to market changes and developments within their community.

Who are you and what are you currently working on?

I’m Alex, one of the founders of comoon.xyz. We build analytics software that helps blockchain companies better understand their communities and grow based on data. Before comoon, I worked in various consulting roles.

How did you come up with the idea to start a Web3 project?

My co-founder Lucian and I have been interested in crypto and Web3 for a long time. We were active in different communities and knew the challenges as users. When we decided to found a company together, we looked at the challenges from the perspective of “community managers” and realized there was a huge need for analytics software.

What problem are you trying to solve?

Without data, Web3 community managers can only have limited insight into who their community members are and which community formats work. Collecting the data yourself is extremely challenging because the data is fragmented across platforms and blockchains. We make all relevant data available in a user-friendly way and help our users take the right actions.

The Challenge

Although comoon was building an innovative Web3 app for community analytics, the funding application was at risk of failing. German bureaucracy and language barriers made smooth communication almost impossible, putting the important €50,000 Founder Bonus out of reach.

We were extremely satisfied with nxt milestone. The team impressed us with a clear process and expert knowledge of our complex Web3 topic. The business plan was almost perfect right away. We saved valuable working hours that we could invest entirely in our business development.

What prior knowledge is required and what “hurdles” might you encounter?

It’s important to be part of the Web3 community yourself and to understand the individual platforms where Web3 communities are active. We also work with blockchain data, which requires technical knowledge of individual chains. Moreover, it’s important to pinpoint the exact problem, set a clear focus, and then develop a solution. The end product is a web application, which means you have to be able to translate customer needs into clean UI/UX, which can be very challenging for analytics software.

What’s unique about your idea and why will it succeed? What’s your next big goal?

Despite the bear market, Web3 communities remain active and new communities are emerging every day that will soon need our solution. Traditional companies and brands are also discovering the benefits of Web3 and communities to increase customer engagement and loyalty. We are in the best position to help both Web3 natives and Web3 newcomers with a data solution. Our focus is on further developing the product and onboarding new customers.

Our Solution

nxt milestone provided the strategic expertise: with our deep knowledge of the funding landscape, we created the perfect plan. We were able to avoid all bureaucratic pitfalls and overcome the language and bureaucratic hurdles. For comoon, this meant: full concentration on the Web3 app and smooth receipt of the €50,000 Founder Bonus.

How did nxt milestone help or support you?

nxt milestone supported us both with the successful application for the IBB Founder Bonus and will also support us in the subsequent process after the successful approval of the Founder Bonus.

What did you like about our work?

We were extremely satisfied with nxt milestone. The nxt milestone team presented a very clear process for how the application for the IBB Founder Bonus would proceed. We particularly appreciated the substantive and expert knowledge of the Web3 field, which allowed us to quickly resolve any questions we had. The resulting business plan only needed minor optimizations. This saved us several weeks of working time, which we were able to invest very well in our business development.

The Impact

The approved €50,000 Founder Bonus provided the necessary foundation for the complex mission. comoon was able to focus entirely on app development, solve the Web3 data fragmentation problem, and solidify its position as an expert in data-driven community growth in the market.

What are you proud of in retrospect and have you already celebrated some successes?

We are already working with leading Web3 companies who greatly value our software. We are proud that we were able to build a good reputation in our target segment in a short time and can help our early customers. As a speaker, we have already been invited to conferences and trade shows. A highlight was the invitation to NFT.London 2022.

What tips would you give other startup founders who are just starting out?

Especially in this industry? It makes sense to take time at the beginning to understand your target segment very deeply and to be focused. Web3 is very multifaceted, with different applications (DeFi, Gaming, NFTs, …), you should start by solving a problem for a specific target group and at the same time building a vision. In the current environment, traction is enormously important, and for that you need focus.