1. Adi - Product Owner @ L2BEAT

Welcome to the first edition of product3's newsletter, where we bring you insights from the frontlines of Web3 product management. For the inaugural issue, I wanted to start with someone who exemplifies what great product management in web3 looks like.

Meet Adi (@radina_nt), the product owner at L2BEAT and a seasoned web3 PM with over four years of experience in the space. As a close friend and former colleague, I've witnessed her swiftly navigate complex challenges with remarkable clarity.

In about 500 words, she shares:

• How is product management different in web3

• Lessons she learned along the way

• Advice for her younger self

How is product management different in web3 compared to web2 based on your experience?

Most product management practices apply in web3 just as they do in web2 - understanding user needs, defining product vision, prioritizing features, and delivering value. In my opinion, the key differences stem from the community-driven and transparent nature of the space, which affects how these responsibilities are executed. When it comes to understanding user needs, product managers in web3 have access to on-chain data, which provides transparent and verifiable insights. Research is often driven by analyzing transaction patterns and wallet activity rather than relying solely on surveys. Of course, traditional research methods still have their place here. Defining the product vision in web3 involves recognizing and addressing the expectations for transparency and public collaboration, which naturally arise due to the decentralized nature of the space. Products are often built in full view of the community. This transparency must be balanced with disciplined execution to avoid "building for the sake of building." As product managers, we must maintain a sharp focus on long-term value delivery, ensuring that feature prioritization is guided by validated user needs rather than short-term hype or community pressure - unless such initiatives align with the overall strategy. Finally, monetization strategies are notably different in web3. I strongly believe that not every web3 product needs a token, but product managers must carefully consider whether and how tokens fit into the overall product strategy. Poorly designed tokenomics can jeopardize the product's long-term viability, so an understanding of economic models and ecosystem incentives is essential.

What did your biggest product failure teach you?

A couple of years ago, I was working on a product in the web3 gaming/metaverse space. Initially, we saw strong community engagement, but over time, activity declined, and we struggled to get web3 games onboard. Ultimately, the project failed, especially as the broader web3 gaming and metaverse sector waned. This experience taught me several lessons as a product manager: 1. Community engagement alone isn’t enough. Early token-based incentives drove participation, but we failed to build sustainable engagement beyond these rewards. It's easy to focus on short-term activity boosts, but true success requires offering continuous, intrinsic value. 2. Prioritize discovery and validation over continuous development, even if it means slowing down delivery. We had a large, talented team of developers and designers and were proud of the product we built. We shipped new features weekly to keep up with community expectations, but without PMF, those efforts ultimately meant little. Constantly shipping new features can create an illusion of progress, but unless those updates are delivering real, validated value, they’re wasted effort. 3. External market factors can break even promising products. Timing plays a crucial role in product success. The collapse of hype around web3 gaming and the metaverse was largely beyond our control. I learned that building a product too reliant on a volatile trend or hype cycle leaves it highly vulnerable to market downturns. 4. Strong product-market fit requires more than surface-level validation. We engaged with potential partners early on and received positive feedback, but in hindsight, we didn’t secure any strong commitments. Now, I make sure that enthusiasm translates into actionable commitments.

What would you advise your younger self?

Moving from traditional software development to web3 was a big shift. In the early days, I sometimes felt overwhelmed by how fast the space evolved and how different the principles were. I'd tell myself not to stress too much about not knowing everything right away. The important thing is to stay curious, ask questions, and learn from others in the space - there’s no such thing as "fully caught up" in web3. I'd also remind myself that burnout is real and that pacing yourself is essential. It's better to sustain your creativity and problem-solving skills over the long run.

If you’ve enjoyed this micro interview share it with fellow web3 product people and give Adi a follow on X (@radina_nt)

Have someone in mind who you’d like to see share their insights? Give me a shout!

See you in the next edition!