Definition ∞ A Minimum Viable Product, or MVP, is a version of a new product with just enough features to satisfy early customers and provide feedback for future product development. It represents the most basic iteration of a concept that can be launched to gather real-world data and validate market assumptions. The MVP approach prioritizes rapid iteration and learning over comprehensive feature sets.
Context ∞ In the fast-paced world of blockchain and decentralized application development, launching a Minimum Viable Product is a common strategy to test core functionalities and gather community input. Many decentralized finance protocols and Web3 platforms begin as MVPs to demonstrate their value proposition and iteratively build upon user feedback. News often reports on early-stage projects launching their MVPs, highlighting their initial features and future development roadmaps within the competitive digital asset landscape.