Hosted by Web3 business consultancy C-Cubed, CCC-WEB3 Future Business Forum 2022, one of Asia's most influential Web3 business forums, took place on October 15-16, 2022. Thirteen blockchain startups participated in the event during which they discussed the key trends sweeping the Web3 space, practical entrepreneurial experience, and the new opportunities presenting themselves to Taiwan's venture capital firms in the Web3 era.
The event brought together a number of firms and organizations from the infrastructure (wallets, exchanges, information security), applications (DeFi, gaming, NFTs, e-commerce) and venture capital (VC) communities, including Alpacadabraz, Amber Group, CoolBitX, Crypto.com, JS-Adways Media, Mafia Capital, Metap Inc, Metasens, OKX, Red Building Capital and RE:DREAMER Lab as well as the Taiwan Association for Blockchain Ecosystem Innovation. During the event, participants shared their opinions on the respective fields in which they are involved.
VC firms' most popular investment targets: infrastructure, DeFi, NFTs, Gaming
Mafia Capital managing partner Jeff Wen and Red Building Capital founding partner Denny Yang both said that Web3 infrastructure, especially the public chain, cross-chain and wallets, as well as decentralized finance (DeFi) are the most popular investment targets. Other attractive non-infrastructure investment projects include Web3 applications, with NFTs and GameFi serving as prime examples.
NFTs become the best marketing channel amid the rising influencer economy
"Influencers/key opinion leaders (KOLs) have become the most important marketing channel for the Web3 ecosystem, followed by communities and creators, and, finally, traditional media," indicated C-Cubed CMO Gene Yen.
With the increasing desire among community members to increase and deepen their participation in co-branding, C-Cubed CEO William Tsai outlined the six major benefits of NFTs-based marketing - accelerated promotions, more feedback from customers, significant expansion of the fan economy, acquisition of new customers, borderless marketing with lower costs, and the creation of brands targeting younger consumers, all of which come together to greatly shorten the traditional marketing cycle.
Promising prospects are foreseen for Web3 in the long term despite the bear market
Speakers also shared first-hand news from TOKEN2049, Asia's premier crypto conference held in Singapore, including the current status of the cryptocurrency market and latest developments in the international and domestic cryptocurrency sectors. "The event venue was packed with visitors every day, and it didn't feel like a bear market at all," said blockchain gaming platform Metasens CDO Neil Lee.
Impressively, global institutional investors continue investing in the cryptocurrency industry. "Large VC firms with several billion US dollars were on hand looking for investees," stated CoolBitX CEO Michael Ou. The global Web3 community is rising.
The hosting of TOKEN2049 demonstrates the Singapore government's ongoing efforts in supporting the cryptocurrency sector by setting up industry regulations and providing strong support to Web3 startups. Red Building Capital founding partner Denny Yang offered that Singapore's commitment to providing high-efficiency business matching services is in line with the fast-paced Web3 ecosystem, making the country a major hub in terms of building the ecosystem.
Web3 is the key to enabling industrial transformation over the next five to ten years
"The Web3 landscape is on the verge of a reshuffle," said crypto asset platform Amber Group regional director John Lee. "The ecosystem is bound to take shape and digital assets will only increase. As a result, it is time to explore the ecosystem as several tech giants, including Meta and NVIDIA, have already built businesses in the metaverse."
Web3 is expected to offer new opportunities by reshaping the boundaries of business activities and facilitating participation in projects worldwide through the application of decentralized wallets such as Metamask. Participants at the event expect the local government to take a proactive approach to managing blockchain and Web3 so that they will not miss this opportunity to boost the growth of the ecosystem.