Could you vampire attack your competitors in saas (it "worked" in crypto)
I've done some freelancing in the crypto space for the last year (working on smart contracts, building out backends, writing front-running bots, etc.) but the coolest concept I came across was called the Vampire Attack.
The link below can explain it better, but one of the biggest decentralized exchanges (Uniswap) was forked by sushi swap (ie. same code is used and hosted somewhere else) and users were incentivized heavily to switch to Sushi.
It makes me think of an evolved form of phone company wars (ie. we'll give you a free phone to switch).
This seems like a method that can be used for customer acquisition, obv the form would take a different shape.
Any thoughts on how you would do this against your competitors?
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The article was a really bad breakdown of a vampire attack, it's not just a "better rate". A very clear example of a vampire attack was OpenSea, the leading NFT trading platform, and their competitor LooksRare.
LooksRare launched with a $RARE token. Not very interesting, most projects do. Notably, OpenSea had just announced they were not going to launch a token, and the community was upset about it. When companies make these tokens, usually the most active users are given them for free.
LooksRare performed a vampire attack on OpenSea when they launched using their $RARE token. They issued their token to users based on how much they used OpenSea. This means OpenSea customers were getting free money to come check out LooksRare, and their most valuable customers were getting more.
This ONLY happens on web3 projects because the usage is publicly available on the blockchain, there isn't regulation around the tokens so they can freely issue them their psuedo-equity to anyone, and they're able to issue tokens easily.
You clearly don't like crypto, but dismissing it all offhand like this makes us all worse off. A lot of smart people are moving to this space, some of them are worth hearing.
How is it any different from say offering cheaper service for say a car than the original manufactor? Or Robinhood "stealing" the liquidiy from the exchanges by offering better price. Its nothing special. You are just offering a better service for the customers.
Lol you crypto bros have pretty weak ego. Everytime someone doesnt agree totally its "hate"
Handing out liquid equity to try out a competing platform is very different than offering a lower price, is that not obvious? This is obviously a pretty bad faith discussion, so I'll stop responding here, but your comments seem pretty far from what the point of this community is.
Yeah, I had reviewed another article a year ago that was much better (but I couldn't find it quickly).
Re: "Better rate" - this goes so much farther than offering a better rate...it is almost a diabolical scheme to capture market share and it isn't comparable to any normal competition that we've seen because decentralized and modular apps make this type of "scheme" actually possible.
Agreed, this doesn't seem like a discussion but more of an opportunity to "check mate" someone in a conversation. Still, I thought it'd be neat to share this. Being deep in crypto has exposed me to a lot of neat narratives and drama that play out in public view.
I basically got to see a meltdown akin to Lehman Brothers play out on chain 3AC, Celsius, etc.
Yeah, no knock on you at all, I was talking about the commentor above me. I think it's a really interesting topic! I can't think of a good way to execute a vampire attack outside of crypto without some sort of data leak.
In my mind, the fundamental requirements of a vampire attack are:
Maybe if Google sent Google homes to everyone with an Alexa, or something like that? These attacks are ultimately the most creative way I've seen to bootstrap a community/skip the cold start problem.
Yes!! Access to user list or a way to engage users from your competitor is a must....like at a conference or from a forum!
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My friend! I do think that you can do something in the spirit of a vampire attack by giving away equity to people who switch over from a competitor. It was to get juices flowing and see if anyone could brainstorm ideas :).
No malintent
Sure lets say then that everything in crypto is totally unique and its impossible to do anything similar to this outside the crypto bubbel. Sounds like OP:s post is totally meaningless then if there cannot exist anything similar outside the crypto bubbel 🤷♂️
In crypto we call this "pulling stuff out of our ass". It's when we invent new terms for stuff that already exists. I'd prefer it if you used our terminology.
Oh man, this story goes much deeper than just offering a better rate. But I understand the hate towards crypto reinventing the wheel, it does continue to happen and it kills me. Haha
Check mate