Mr. Karnika E. Yashwant at Blockchain Life Forum 2025
In the crypto startup space, pitching and raising funds is often approached as an early milestone. But in reality, fundraising is a symptom of success. It’s an indicator that your product or service is evolving and solving a real problem.
Recently, I had the chance to judge a startup pitching session. At the KEY Difference office, I’ve interacted with over 1,000 founders. The truth is, great ideas are everywhere—but an idea alone is not enough.
It’s about the ability to listen, adapt, and build based on what the market is truly telling you. And that’s what sets the winners apart.
Why listening beats pitching in crypto
Crypto startup founders tend to focus on pitching and raising funds, neglecting the approach of listening, refining the process, and building. Delivering a shiny pitch, and a smooth speech paired with a vivid picture could help founders win over investors. But it’s worthless without accomplishing a meaningful goal or solving a real problem.
Listening is the gateway to connecting and interacting with others. It’s the path to building real relationships that lead to foundational trust—especially in an industry overloaded with noise and inflated promises.
Taking time to understand people’s goals, pain points, and constraints is how trust is built. Crypto founders who interact and listen to others are viewed as credible and curious. They are more respected because they’re more receptive, grounded, and willing to grow.
These founders would earn long-term believers—not just capital. Observing the crypto market, data points, and trends is key. The money will eventually follow.
Pitching is based on assumptions. It’s a show created to impress investors. Listening is gathering real time data from people. It’s more valuable than pitching. It’s insights that could be looked into, and validated, leading to constant improvement and rebuilding.
Timing is everything in the crypto space. If you’re always pitching, you’ll miss golden opportunities. But if you’re listening, you’ll be ready when the time and market conditions play in your favor. As the saying goes, “Luck is what happens when preparation meets opportunity.”
What to listen for
Crypto founders should pay close attention to feedback. Not just any feedback, but the kind that reveals whether they’re solving a real problem and creating real value. These insights help guide founders toward new opportunities, validate demand, uncover monetization signals, highlight product differentiation, and more.
Exploring users’ pain points could reveal new opportunities. Community members who share workarounds validate demand. They want to use your product, even if it takes extra effort. Others who request additional features, even at a higher cost, are sending a clear monetization signal. There’s no limit. As long as you listen, plan, and execute, you’re moving in the right direction.
I believe the real unlock for crypto startups to take off isn’t in pitching to new investors. It could be in having the right go-to-market (GTM) strategy. Or it could be about your roadmap and how to evolve it without losing your edge. And most importantly, a crypto product that has a meaningful change.
Listening to negative feedback is just as critical in your journey as a founder. Having an open mind, accepting criticism, and acting on it is what makes the difference. Often, a tough conversation with an advisor or peer early on can save a founder from a costly mistake later. Feedback doesn’t break a startup—it shapes it.
Where to look for feedback?
If you’re unsure where to find feedback, start by observing your internal team and analyzing your data—that’s where the first insights often appear. Internal feedback is often overlooked. But in reality people who work on your startup, day in and day out, are the ones who know it better.
Listening to advisors and experienced talent within your team is vital. These individuals can often sift through the noise faster than others.
Users and community members who frequently engage in your Discord server, Telegram channel, or on X are a goldmine. They’re invested in your platform and can offer perspectives that outsiders can’t. A trending meme or hashtag can even be a strong indicator of what to fix, upgrade or offer next.
Being observant and responsive to every message or comment is essential when updating your roadmap and development priorities. Market sentiment, and regulatory changes are also valuable signals. Adapting to them demonstrates to users that your startup and team are proactive.
Building a feedback loop
Now that you’ve mastered the art of listening and know where to find feedback, it’s time to build a loop. A strong feedback loop starts with data collection, analysis, planning, action, and reflection.
Remember, crypto is about decentralization, hence it’s about your community. Follow your community.
A feedback loop could be built systematically. Start by observing your community’s activity on-chain and off-chain. Is there consistent engagement with your dApp? Is there a spike in activity or do you see stagnation? What is the current market sentiment? Collect the data, analyze, and plan your next move. Plan an airdrop or create a staking smart contract to reward your community.
Engage with your developers community. Are they active on Github? How many repositories are being worked on? Do you see consistent proposals about improvement and scaling? If yes, then that’s great. If not, look for feedback from devs, analyze it and build. Having a bug bounty program is a way to attract devs and breathe life into your dApp.
If your project is in early stages, focus on your social media channels and marketing plans. Engage with your community. Answer their questions, address their concerns and understand their needs. A fun contest could shine more light into your project. An AMA session could help you connect more with your audience.
Most importantly, reflect on your results, compare before-and-after metrics, refine, and repeat.
Final thoughts
Listening is powerful. Whether it’s a one-on-one conversation, a community session, or a team catch up, listening will always give you a new perspective. If you’re building—stay open, stay sharp, and remember: The best founders don’t just pitch. They listen, learn, and pivot when it matters most.
