Hello 2022 (and hi web3)

Where we're going at Uncut, and where we've been...

In full transparency, my end of year internal speech to the Uncut team ;-)

Photo by Ian Schneider on Unsplash

“Ok, not everything went according to the plan in 2021…

At the beginning of January 2021 — one year ago — I decided to create Uncut.fm and asked Jeremy and Alicia to join me. We worked on our first pitch and mock-ups and began fundraising at the beginning of April. We raised $2M in just a few weeks.

We spent our first two months as a company doing research and interviewing a bunch of podcasters. We got a little lost. We recruited a few people, and not always the right ones. Finally, we decided we will make podcasting more social, and interactive, and allow listeners to add audio comments while listening to their favorite shows.

It took us three months to painfully develop a first version of the product, and then we quickly realized that we were headed in the wrong direction.

We decided to retreat in Greece at the beginning of November and, in just a few days, we were able to question ourselves and start again on a new idea. We even managed to develop a POC.

Since then, in only two months, we were able to do what we had not been able to do in six:

- We changed the original concept of Audio Comments to Moments,

- We entirely revamped the UI/UX,

- We rallied a handful of podcasters around our new vision,

- We created, with them, a new immersive podcasting experience and received amazing first feedback,

- We completely revisited our brand, our positioning and our messaging,

- And we finally decided we will create a new product category: blockchain-based podcasting.

Of course, we didn't manage to achieve all our goals and develop everything we wanted. Initially, we thought we would be able to add basic admin tools for creators by the end of this year, but I think we can still be very proud of ourselves.

So now that 2022 is here… what’s next?

We're all super excited about this blockchain-based podcasting category: we're the first ones to talk about it, and we think that adding Web3 to podcasting can change the industry forever.

In Silicon Valley, creating a new exciting category is the holy grail. No one wants to be just another me-too player in a crowded market. But if we want to win, and create a highly defensible market position, we need to establish a leadership position in it!

It’s time for us to OWN OUR SPACE!

Every time someone thinks or talks about NFT in podcasting, they MUST think of Uncut! Podcasters need to understand that blockchain and NFTs are the next BIG THING in podcasting and Uncut is at the cutting edge of it.

Now, it’s time to get on the Web3 radar and deliver the Uncut promise. In typical Web3 style, we won’t be going it alone: we’re building Uncut with carefully-selected podcasters-in-residence.

These podcasters are not only going to propose a new, immersive listening experience — they are going to turn their content into rare digital assets (NFTs), so listeners can invest in their favorite show.

I strongly believe we have everything it takes to create and own this category: we’re creating something that never existed before, disrupting outdated business models that are broken and too centralized, and surfing a massive disruptive wave (Web3). We even have a cool name and brand.

Here’s where I think we need to be cautious:

• We meed more early-adopter podcasters who can be spokespeople for our cause. No one will listen to just us talking — we need validation from, ideally, big name podcasters. These will be our cheerleaders.

• We need to make blockchain and NFTs the center of everything we do. It is the differentiation in our product strategy and the foundation of our messaging.

• Every conversation we have externally should talk about this category and why it is the next big thing. Our message needs to be consistent across all channels. Think of the company as a bullhorn or a buzz machine with a constant stream of new category messaging coming out of it. (The good news? We’re talking about something truly unique and exciting. The bad news is that no one will know what we are talking about initially. It’s not easy being a pioneer. The easier path is to follow the pack. But we are better than that!)

Last but not least: we need to be patient. Things take time to change. The status quo is a big slow moving ship that can take a very long time to change speeds or direction. This does not mean our strategy is not working. It just means that large numbers of podcasters take time to make that change. It may take several years to catch on. And we need to continually show success, momentum and progress to convince people we really have something new.

But if we persevere, stay focused and continue to promote the heck out of it as the next big thing, I guarantee you we will reach the Promised Land.”