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Understanding Market Demand and Network Effects in Web3 Pricing
To gauge market reception for a new product, one can leverage classical insights from product marketing, experimentation, and pricing mechanisms. Web3 facilitates multi-staged sales and community building with early adopters to test demand. Market mechanisms like auctions and limited supply sales help measure market demand. Clarity in the value proposition is crucial for setting the right market price. Web3 introduces network-affected businesses with native pricing mechanisms, creating compounding effects with token-oriented networks and NFTs, offering exciting possibilities for innovative pricing and business models.