€50,000 GründungsBONUS: We handled the red tape, they focused on their Web3 App.

comoon develops a web application that enables the long-term and sustainable development of Web3 projects and their communities. There is often an oversupply of data from various platforms like Discord and Twitter. Due to the volume of data and the limited time resources of community managers, they are often unable to analyze and interpret it. Comoon's dashboard provides the optimal foundation for efficient community management. This allows community managers to react promptly to changes in the market and within the community.
 

Who are you and what are you currently working on?

I am Alex and one of the founders of comoon.xyz. We are building analytics software that helps blockchain companies better understand their communities and grow based on data. Before comoon, I worked in various consulting roles, including as a Venture Builder for startups.
 

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

Lucian, my co-founder, and I have been interested in crypto and Web3 for quite some time. We were active in various communities and knew the challenges from a user's perspective. When we decided to found a company together, we looked at the challenges faced by "Community Managers" and realized there was a huge demand for analytics software here.
 

Which problem are you looking to solve with it?

Without data, Web3 Community Managers can only very limitedly assess who their community members are and which community formats work. Collecting the data itself is extremely challenging because the data is fragmented across platforms and blockchains. We provide all relevant data in a user-friendly manner and help our users take the right actions.

Although comoon was building an innovative Web3 app for community analysis, the funding was at risk of failure. German bureaucracy and language barriers made smooth communication almost impossible, pushing the crucial €50,000 GründungsBONUS far out of reach.

What prior knowledge is required, and what "hurdles" might one have to accept?

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

What is unique about your idea and why will it be a success? What is the next big goal?

Despite the bear market, Web3 communities remain active, and new communities are emerging daily that will soon need our solution. Traditional companies and brands are also just 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 discoverers with a data solution. Our focus is on the further development of the product and the onboarding of new customers. Our product is currently in the beta phase and will be launched in Q2 2023.

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

How did nxt milestone help / support you?

nxt milestone supported us both in the successful application for the IBB Gründungsbonus and will continue to support us in the subsequent process after the successful approval of the Gründungsbonus.

What did you particularly 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 GründungsBONUS would proceed. We particularly liked the substantive and technical expertise in the Web3 field, which meant our queries could be resolved very quickly. The resulting Business Plan only needed minor optimizations. As a result, we saved several weeks of working time, which we were able to invest very effectively into our company's development.

Der sichere 50.000 € GründungsBONUS lieferte die notwendige finanzielle Basis für die komplexe Mission. Comoon konnte den Fokus vollständig auf die App-Entwicklung legen, die Web3-Daten-Fragmentierung lösen und seine Position als Experte für datenbasiertes Community-Wachstum am Markt festigen.

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

We are already working with leading Web3 companies who highly value our software. We are proud that we were able to quickly build a good reputation in our target segment and that we can help our early customers. We have already been invited as speakers to conferences and trade fairs. A highlight was the invitation to NFT.London 2022. Furthermore, we are very happy to enjoy the support of a global VC who is fully behind our vision.
 

What advice would you give to other startup founders who are just starting out, especially in this industry?

It makes sense to take time at the beginning to understand the target segment very deeply and to stay focused. Web3 is very complex, with various applications (DeFi, Gaming, NFTs, etc.). At the beginning, you should focus on solving a problem for a niche target group while simultaneously building a vision. In the current environment, traction is hugely important, and you need focus for that.