To Doxx or Not to Doxx?
There comes a point in the life of a web3 founder when they have to decide whether they should be anon (anonymous) or doxxed (reveal their “real life” identity).
There are many valid reasons to doxx or to stay anon and the decision depends on the privacy needs and discretion of the founders.
To Doxx
Doxxing gives you "plus trust points" because the founders are willing to put their names on the line to see the success of the project through. Doxxing:
Shows commitment to the project enough to put your identity on the line
Shows credibility for your ability to execute if you’ve had accolades (a strong following, operational track record) in the past
Allows you to form partnerships with colleagues and people you already know
However, doxxing can come with downsides in the world of web3, primarily in the department of operational security (”opsec”). Some points to consider:
If you are self-custodying your assets, doxxing increase the chance of real life danger, AKA the wrench attack. In some countries, this can actually be life threatening!
This danger could also extend to friends, family, and acquaintances.
Web3 and crypto are still a hot topic, so doxxing could lead to public harassment regardless of financial motivations.
Founders in web3 could still be working at web2 companies who may not look kindly on the association with crypto.
Not to Doxx
Not doxxing, or staying anon, is an acceptable path that is becoming more common in web3. There are many successful projects, companies, and startups with anon teams. Bitcoin, the OG cryptocurrency, is one of those successful projects: Satoshi Nakomoto popularized the trend of staying anon.
While there are many valid reasons to stay anon, there are also teams out there who stay anon in order to execute rug pulls and scams. As such, anon teams usually have a higher bar to clear and succeeding as an anon team will take more trust-building upfront. You can do this in a few ways:
Mimic the credibility points that doxxing provides. For example, under the "Team" section of your website or under your pseudonymous Twitter account, suggest ways you are credible as a founder. e.g. if you are the tech founder, say which companies you work for as an engineer; if you are the artist founder, say which past art projects you've helped direct.
💡 “If the team is anonymous then you can use “Proxy Trust”, and have people who are credible in the space to vouch for you and confirm your trustworthiness.” Xuannü (Crypto Coven)
Selectively doxx. Doxx yourself in private circles, particularly with partners you trust and with whom you want to build trust for the long term. You can also doxx yourself to existing credible people and have them vouch for you.
Show your execution skills. Launch mini drops before or throughout the launch of your NFT project, or build your company’s product in public. Stay true to your promises from the start and execute against your roadmap. The goal is to prove to the community that you are already doing what you set out to do even as you launch.
💡 SOL Neighborhood did this very well with their waves launch — launching their neighborhood’s map and AR interface even before they released the entire collection. It’s much easier to trust that kind of project vs. projects that promise to execute far in advance.
Communicate to your community early and often. Answer their questions as promptly as you can. Contribute to the chat regularly throughout the day. Show sneak peaks of the art as you craft it. Show sneak peaks of the tech or infra you are building. Communicate conversations you’re having with partners in the ecosystem. The idea is to reassure your community that you’re executing and bring them along for the ride.
Hire a team. Show the project’s commitment to execute by involving more team members that amplify the project’s ability to execute for the long term.
Happy BUIDLING, anon!
We’re thankful to have sourced these tips (with permission!) from “The NFT Playbook,” a guide to launching quality NFT projects and web3 communities from founders of top projects like Chain Runners, Crypto Coven, and World of Women. A lot of the tips from the playbook can be applied to community best practices in general.