Author: Pacific Meta
introduction
Currently, Japan is trying to create a new chapter on the Web3 stage. As a country at the forefront of the world in the field of crypto asset supervision, Japan's efforts are not limited to the improvement of laws and regulations, but also serve as a bridge connecting new technologies and society, attracting widespread attention at home and abroad. This trend is further accelerating, and the environment around Web3 in Japan is also developing rapidly.
As the world explores the possibilities of Web3, what direction is Japan moving towards? What specific regulations have been enacted? What challenges are companies facing? And what are the needs of individual users and investors? In order to answer these questions, this article will analyze the "Latest Web3 Trends in Japan in 2024" from three perspectives: "Society and Politics", "Enterprises", and "Individual Users".
This article was written by Web3 accelerator Pacific Meta . Pacific Meta is a specialist company that drives Web3 innovation by providing financing, marketing and business development support. Please visit the official website below for details.
1. Social and political trends
1-1. Shigeru Ishiba Government
Image source: Japan Economic News
In September 2024, in the Liberal Democratic Party presidential election, Shigeru Ishiba was elected as the new president. Due to Japan's system, the leader of the ruling party will in principle serve as prime minister. Therefore, Mr. Ishiba, who is the president of the current ruling Liberal Democratic Party, will become Japan's new leader and be responsible for forming a new government. Under the previous leadership of the Kishida regime, Japan has been committed to promoting the development of Web3, and people expect this trend to be further accelerated under the Ishiba regime.
Image source: Cabinet Renovation の目玉に「Web3 Minister in Charge」 Taira Masaaki Councilor が语るNational War Strategy
Of particular concern is the presence of Representative Taira Shoaki, the leader of the Liberal Democratic Party’s Web3 Project Team (Web3PT). As a key figure in promoting the development of the Web3 field during the Kishida administration, Representative Taira was appointed Minister of the Digital Agency under the new administration. His assumption of this important position is believed to further enhance his influence and voice in policy decision-making.
In Japan, Web3 technology is regarded as the key to promoting new economic growth, so people have been looking forward to the improvement of relevant regulations and legal systems. With the establishment of the Ishiba regime, the intensity of policy promotion is expected to be further strengthened. In particular, legal clarification in the Web3 field and measures to enhance international competitiveness are expected to accelerate development.
1-2. Changes in regulatory and tax systems
The " end of period market value assessment tax " for corporate legal persons will no longer apply
As part of the major tax reform in 2024, cryptoassets held by legal persons are excluded from the application scope of the "end-of-period market value assessment tax". Previously, domestic legal persons were required to bear the tax risk of unrealized gains simply by holding crypto assets, leading many companies to choose to establish overseas legal persons to conduct business. This policy adjustment has created an environment for Japanese domestic companies to focus on business activities without worrying about tax burdens on unrealized gains.
The improvement of Japan’s supervision of crypto assets began with the revision of the Fund Settlement Law in 2017. Through this law, crypto-assets such as Bitcoin are recognized as means of payment and positioned as digital assets distinct from fiat currencies. Subsequently in 2020, ICO (Initial Coin Offering) and STO (Security Token Offering) were included in the regulatory framework of the Financial Products and Exchange Act, establishing a basis for the purpose of protecting investors. In addition, in 2023, Japan introduced relevant regulations for stablecoins (encrypted assets linked to the value of legal currency), allowing the legal system in the Web3 field to develop steadily.
However, on the tax system, significant progress has not been made over the years. In particular, the tax system for corporate holdings of encrypted assets has long been regarded as a key issue affecting the development of Japan's Web3 industry. Under the current system, unrealized gains on crypto assets held by companies will be taxed at the end of the year, known as the "end-of-period market value assessment tax" system. This system ignores the risk of crypto asset price fluctuations and creates a financial burden for many businesses. Therefore, many companies looking to do business in Japan choose to avoid holding crypto assets domestically and instead set up legal entities overseas to operate their businesses.
This tax reform is expected to promote an increase in domestic token issuance and capital raising in Japan. Especially for start-ups and new businesses considering entering the market, Japan will become a more attractive market.
Tax issues and future prospects for individual investors
On the other hand, there are still many problems with the tax system for individual investors. Currently, personal crypto-asset trading income is classified as “miscellaneous income” and taxed according to the comprehensive tax system, with a maximum tax rate of 55%. Heavy tax burdens and complex reporting procedures have become major obstacles faced by many individual investors.
As the leader of the Web3 project team of the ruling Liberal Democratic Party, Representative Ping pointed out the adverse impact of the current tax system on individual investors at the "WebX2024" conference in August 2024. He emphasized that the tax system for individual investors’ crypto asset gains should be changed to a separate declaration and tax of 20% similar to financial income. If this reform is realized, it will not only reduce the burden on individual investors, but also help activate the domestic market.
https://x.com/TAIRAMASAAKI/status/1830950932332584995
As discussions on tax reform progress, the movements of the government and the Financial Services Agency have attracted much attention. According to multiple reports, relevant discussions are proceeding steadily. If individual investor tax reform is ultimately implemented, it is expected to expand the domestic retail investor base and drive overall growth in the cryptoasset market.
Changes in the Financial Services Agency’s supervisory attitude
Image source: ShutterStock
Previously, the Financial Services Agency implemented strict supervision on crypto assets on the grounds of investor protection. However, in 2024, its regulatory attitude changed. The Financial Services Agency is studying the inclusion of crypto-assets within the scope of the Financial Instruments and Exchange Act. This development suggests that cryptoassets may be legally redefined as “financial commodities.” If this classification is realized, it may bring about the following important changes:
Accelerate tax reform
Treating crypto-assets as financial commodities may promote further improvement of the tax system, thereby reducing the tax pressure faced by individual investors and companies.
Discussion on the introduction of Bitcoin ETF
The reclassification will pave the way for financial products involving crypto assets, with the launch of a Bitcoin ETF becoming more realistic. This will promote the integration of traditional financial markets and crypto asset markets and attract more individual and institutional investors to participate.
In addition, the Financial Services Agency is also studying to relax regulations on the use of in-game tokens, aiming to provide a more friendly environment for gaming companies to use tokens flexibly. These policy changes may promote the growth of crypto-asset-related businesses and help the Japanese Web3 industry gain a greater advantage in international competition.
1-3. Expansion of business opportunities brought by the new legal system
Allows the establishment of a limited liability company DAO
On April 22, 2024, Japan officially allowed the establishment of DAO (Decentralized Autonomous Organization) in the form of a limited liability company (LLC). This legal amendment enables DAO to obtain formal legal person status in Japan, be able to operate as a contract subject, and own real estate and other assets. This proposal originated from the "Web3 White Paper 2023" released by the Liberal Democratic Party in 2023 and was implemented at an astonishing speed, attracting widespread attention from the domestic and foreign blockchain industry.
In the process of establishing a limited liability company DAO, it faced multiple legal challenges, the two most important issues being "handling of employee rights tokens" and "obligation to disclose employee information". Regarding the "handling of employee rights tokens", this system correction will identify some tokens issued by DAO as "non-profit distribution tokens" or "tokens held by executive employees" and treat them as "tokens held by executive employees" under the Financial Instruments and Exchange Act. Class II Securities Processing. Regarding the “obligation to disclose employee information”, the new system allows DAO not to disclose employee information.
The establishment of a limited liability company DAO opens up a wide range of application scenarios, including local revitalization projects and community-led projects in the fields of sports and entertainment.
Law revision allowing LPS to invest in crypto assets receives cabinet approval
In February 2024, Japan’s Ministry of Economy, Trade and Industry passed a legal amendment allowing limited liability partnerships (LPS) to hold crypto assets. This revision enables LPS, which has traditionally invested mainly in traditional financial products such as stocks and bonds, to invest and hold crypto assets.
Previously, Japan’s LPS was unable to invest in crypto-assets, resulting in domestic Web3 projects relying on overseas venture capital (VC) for funding. This legal revision is expected to promote the diversification of funding sources and activate the domestic market.
The amendment is currently under consideration by Congress. If passed successfully, it is expected that domestic venture capital will officially start investing in tokens from 2025.
1-4. The practice of Web3 applications by local public organizations: Initiatives in Tokyo and Osaka
In Japan, the use of Web3 technology to promote local revitalization is being actively explored. Many cities have launched unique initiatives at the local level. Here is a brief introduction to some of the practices in Tokyo and Osaka as of 2024.
Tokyo - Emerging precedents
Picture comes from: FC Tokyo Arena
Tokyo is promoting local and regional revitalization using Web3 technology.
In the "Hometown Tax Refund Gift NFT Project" cooperated by Mitaka City and FC Tokyo, a new donation form was innovated by using limited edition NFT digital art in cooperation with FC Tokyo as a hometown tax refund gift. Sports fans and local residents can enjoy NFTs while supporting Mitaka City.
On the other side, the "Qingdao DAO Project" is committed to turning Qingdao, an outlying island of Tokyo, into a DAO, emphasizing residents' opinions and participation, aiming to operate regional affairs in a community-driven manner, and explore the future of resource utilization and sustainable development.
In addition, in Okutama City, a token-based crowdfunding method is adopted in order to protect tourism resources. Funds are raised through the issuance of tokens for the opening of ancient folk restaurants and hotels. In this way, people who care about regional revitalization can participate through financial support.
These practical cases clearly show that Web3 brings new value to local society.
Osaka - World Expo boosts the development of digital society
Osaka Prefecture, which will host the World Expo in 2025, is promoting the innovative application of Web3 technology with the "EXPO 2025 Digital Wallet" as the core. This digital wallet can be used for cashless payments, NFT acquisition and point rewards. It aims to provide diverse experiences for Expo venues and related facilities and realize a cashless Osaka Expo.
Image: EXPO2025
Based on this platform, a digital stamp NFT activity around restaurants around the World Expo venue was launched in April 2024. Users can collect digital stamps from restaurants they have visited and enjoy the fun of collecting stamps.
In addition, the Osaka City Museum Organization also plans to launch an NFT-based digital stamp collection activity starting from November 2024 in preparation for the World Expo, using digital technology to enhance the experience of visiting the museum.
At the same time, Osaka Prefecture's Habikino City took the lead in launching the sale of "Digital Resident Ticket NFT" in the Kinki region in October 2024. Buyers can enjoy free services and discounts at barbecue restaurants or experience facilities in the city.
Taking advantage of the Expo, Osaka Prefecture is actively utilizing Web3 technology to achieve local revitalization and further development of the digital society.
2. Corporate news
2-1. Financial industry trends
Sony Bank: launches multiple Web3 technology application initiatives
In 2024, Sony Bank announced a series of initiatives based on Web3 technology, clarifying its policy of promoting the integration of finance and entertainment. In April, Sony Bank launched the development of digital securities based on entertainment IP (intellectual property). Through this plan, content such as music, movies, and games can be used as assets to issue digital securities, providing users with new financial product choices. In addition, Sony Bank has also begun pilot issuance of stable coins based on legal currency and developed blockchain wallet technology, aiming to expand the application scenarios of the Web3 economic circle.
In July of the same year, Sony Bank released "Sony Bank CONNECT", an application for Web3 entertainment. The application is linked to the NFT market "SNFT" operated by Sony Group, and users can view and manage their NFT collections. The application provides the function of displaying NFTs on the home screen and supports displaying NFTs in 3D gallery "Rooms", further enhancing the entertainment experience.
Image source: web3エンターテインメント区けアプリを2024 summer new project name Sony Bank CONNECT (ソニーバンク・コネクト) is decided
These initiatives leverage Sony Group's strengths in entertainment while exploring the potential of Web3. Through Web3 technology, Sony Bank is committed to transcending traditional financial services and creating an integrated "finance × entertainment" composite industry for individual users, demonstrating a new service and value vision.
2-2. Trends in the game industry
Sony: Officially entering Web3, attracting attention at home and abroad
https://x.com/soneium/status/1826832581897126367
What has attracted much attention in the Japanese Web3 industry as a whole is the Layer 2 blockchain "Soneium" launched by "Sony Block Solutions Labs", a joint venture between Sony Group and Startale. The company was established in September 2023, combining the technical strength of Sony and Startale to jointly develop a public blockchain, aiming to provide a convenient platform that integrates Web2 and Web3 to promote the mass adoption of blockchain.
Soneium not only focuses on providing Web3 solutions, but also strengthens the linkage with Sony's existing business and support for creators, and is committed to building a mechanism with rights protection and benefit sharing as its core. This release has led to active development of related projects. In August 2024, YGG Japan announced the launch of the game-specific Layer 3 chain "YAIBA" connected to Soneium to support the environment construction required for Web3 game development.
Square Enix: Cooperation with SuiPlay
https://x.com/_smkotaro/status/1830793420690043327
At Korea Blockchain Week in September 2024, Sui development company Mysten Labs surprisingly announced that its portable Web3 game platform "SuiPlay" has reached a cooperation with Square Enix, a large Japanese game development company. SuiPlay utilizes simple and highly scalable blockchain technology to provide a platform that easily integrates traditional game development with Web3. Although the specific cooperation content has not been made public, this move shows the potential of Web3 in the traditional game market and attracts the attention of the entire industry.
double jump.tokyo: A new game in the "Three Kingdoms" series developed using SEGA's IP
double jump.tokyo announced at the Tokyo Game Show 2024 that a new blockchain game "Battle of Three Kingdoms-" based on Sega's authorization is officially under development. This game is based on Sega's popular game "Three Kingdoms" and uses NFT technology to bring players a new gaming experience.
2-3. Trends in the real estate industry
NOT A HOTEL: Raising 5.5 billion yen to expand business territory
Image source:X
https://x.com/notahotel_inc/status/1859507038524424341
In the real estate industry, "NOT A HOTEL", an innovative company using NFT, has attracted widespread attention. The company uses shared villas as its core business model. Users can purchase the entire building or share it in units of 10 or 30 days per year.
In 2024, NOT A HOTEL successfully raised approximately 5.5 billion yen and plans to expand to new locations at home and abroad, especially in tourist destinations and resorts, to attract foreign investors and tourists to buy.
In addition, in October of the same year, the company launched its own token "NAC" through IEO. NAC holders can use tokens for accommodation bookings and rentals, and earn accommodation rights as rewards through tokens. In addition, by participating in "NOT A HOTEL DAO", users can also participate in the decision-making of base selection and operation policy. NAC is regarded as an important cornerstone to support the user participation ecosystem.
2-4. Trends in the transportation industry
Toyota Blockchain Lab: Explore tokenizing car usage rights through “smart accounts”
In 2024, Toyota Blockchain Laboratory (TBL) announced a concept: car-related rights will be tokenized and managed through "smart accounts" to link various car services.
This smart account is different from traditional accounts in that it is a "Mobile Oriented Account (MOA)" using Ethereum ERC-4337. MOA separates the authentication process from key management through account abstraction. Even if the user accidentally loses the private key, the account itself can remain unchanged, thus providing a more secure and flexible account management method.
Users can perform operations such as unlocking through smartphone apps. In this way, users can freely assign permissions for different operations. For example, you can grant full operating permissions, or you can set permissions only to unlock and lock the trunk, with a validity period attached. In addition, this digital management of car usage rights is expected to promote services such as car sharing.
Toyota released the "Toyota Mobility Concept" in April 2023. The final stage of the concept, "Mobility 3.0", aims to achieve the integration of mobility and social systems. This smart account concept is also considered to be part of this plan, and public blockchain may become one of the important options for realizing Toyota’s mobility concept.
KINTO: Issue NFT certification to drivers who drive safely
KINTO, in partnership with Toyota Motor Corporation, has begun a pilot test. The main content of the pilot test is to collect and analyze vehicle driving data to screen out safe driving drivers, and for those drivers who are certified as safe driving, non-transferable NFTs, namely "soul binding tokens" will be issued. Coin (SBT)”. This is the transportation industry’s first attempt to use blockchain technology to permanently record safe driving certification. In the future, it is also planned to build a more economical mechanism for related transportation services based on these certifications. This initiative is expected to promote safe driving and promote the development of a transportation society.
2-5. Electric power industry trends
Tokyo Electric Power Grid: Starts trial of mobile game application for power infrastructure photography
Image source: PicTrée X official account
https://x.com/pictree_dea/status/1764538716415279119
Tokyo Electric Power Grid, in partnership with Greenway Grid Global and Digital Entertainment Asset, has launched a gaming application trial called "PicTrée". Through the app, users can take photos of poles and electrical infrastructure and compete against them. This not only provides entertainment for users, but is also expected to improve regional infrastructure maintenance and early detection of equipment abnormalities through games, creating value for society.
2-6. Environmental industry trends
Klima DAO Japan: Launching carbon credit trading for ReFi projects in Japan
Image source: KlimaDAO's Japanese subsidiary "KlimaDAO JAPAN (クリマダオジャパン)" is established by: Web3・ブロックチェーンで気礉动対码を変GE
In 2024, Klima DAO established the Japanese legal person "KlimaDAO Japan" and is committed to developing a market platform for the tokenization of public carbon credits "J-Credit". In April, a platform suitable for Japanese people and Japanese companies to participate was launched, creating new participation opportunities for greenhouse gas emission reduction.
On November 19, the company launched the trial of "KlimaDAO JAPAN MARKET", using the Polygon blockchain to tokenize J-Credit to enhance transaction liquidity and transparency. Several companies, including Mizuho Financial Group and Optage, are participating in the trial, which is expected to be open to the public in the spring of 2025. These initiatives aim to solve problems in Japan's carbon credit market and contribute to combating climate change, and have received widespread attention.
2-7. Communications industry trends
NTT Docomo: Launches Web3 Compatible Wallet
Image source:みんなのデジタルウォレットscramberry WALLET をProvide start
NTT Docomo has launched the Web3-compatible wallet "scramberry WALLET" through "NTT Digital", a Web3-promoting subsidiary established in 2022. Users can easily sign up using just their phone number, and wallet data is stored in the cloud with backup capabilities for easy recovery. At the same time, its security features include the ability to filter small amounts of crypto assets and NFTs, greatly improving security.
KDDI: Partnering with Animoca Brands
Image source: Animoca Brands Japan and KDDI, Web3 division business alliance begins
KDDI has cooperated with Animoca Brands Japan to sell NFTs of the blockchain game "PHANTOM GALAXIES" on KDDI's NFT market platform "αU market" in March 2024. This cooperation strengthens the communication industry's connection with Web3 and builds new business models utilizing NFTs.
2-8. Food industry trends
Suntory: Combining NFT with beer
Image source: used by サントリー, NFTつきビール発売──アバランチブロックチェーンを
Suntory uses Avalanche technology to launch beer with NFT "THE PREMIUM MALT'S Masters Dream [Yamazaki Original Sake Barrel Aging] 2024". The limited-edition beer is matured in barrels from the original whiskey matured at the Yamazaki Distillery, and the bottle is equipped with an NFC (near field communication) tag. After the consumer opens the bottle cap, NFC will sense and generate a unique digital collectible NFT as a proof of consumption. The move is aimed at increasing customer loyalty and giving higher value to the experience of purchasing limited-edition products.
Calbee Food Company: Let " French Brothers " and "Shrimp Crackers" appear in the popular Web3 game!
Image source: Domestic food メーカーfirst test! 「じゃがりこ」と「かっぱえびせん」が人気web3ゲームに appears! September 11, 2024 (Water) NFT
Calbee Foods announces its first partnership with Web3 Gaming as a domestic food manufacturer. The company's popular products "JagaRico" and "Kappa Ebisen" themed NFT props will be gradually launched in three Web3 games "CryptoSpells", "JobTribes" and "HEAL-III". In this way, a new form of fan interaction that integrates virtuality and reality is proposed. In addition, "WEB3 GAME FES", an event that enhances interaction and cooperation, will be carried out using the interoperability between games.
2-9. Watch and apparel industry trends
Casio Computer: Launch of “VIRTUAL G-SHOCK” and collaboration with “STEPN GO”
Image source:X
https://x.com/CASIOJapan/status/1826514893668831469
Casio actively promotes marketing to Web3 users through the virtual space communication project "VIRTUAL G-SHOCK". This project collaborates with Web3 lifestyle application "STEPN GO" to strengthen connections with young users centered on Generation Z. This move demonstrates the potential of Web3 in the watch and apparel industries and has become a model for brand strategy in the digital era.
3. Updates on individual users and individual investors
3-1. Trend in the number of domestic exchange account openings
According to on-chain data estimates, the number of accounts opened on domestic crypto asset exchanges in Japan will continue to grow in 2024.
Portrait: Dune
https://dune.com/gussan_0214/japanesecentrlizedexchangesuserfeature
In the Dune Analytics dashboard, the number of unique wallets received by external wallet addresses of major exchanges (Coincheck, bitbank, bitFlyer) is counted. On-chain data shows that the three exchanges combined for 356,917 unique wallets in January 2024, growing to 408,039 by November 2024.
Extrapolating based on these data, if the number of unique wallets of external wallet addresses is regarded as 20% of the total number of accounts, and assuming that these three exchanges account for 60% of the market share, it can be estimated that the total number of domestic exchange accounts in November 2024 will be approximately 340 Ten thousand.
Similarly, if the total number of accounts in January 2024 is calculated, it will be approximately 2.97 million. Therefore, the number of new accounts in 2024 is expected to reach 426,000. Although it is estimated that there are still two months left in 2024, the growth rate is the same as in previous years. It can be judged that the number of accounts in domestic exchanges is steadily increasing. The number of individual investors holding crypto assets is expected to continue to grow in the future.
3-2. Japanese domestic Web3 projects that will attract much attention in 2024
SNPIT
Picture source:无material でstart められて, 旋だけで家げる! What's the charm of the family's "SNPIT" family?
In 2024, the unique GameFi mode "SNPIT" with a photography theme attracted widespread attention. Players hold camera NFTs within the app, take photos with their smartphones, and receive token rewards through voting. This mechanism cleverly combines social network (SNS) elements to successfully promote the interaction of community communication. At the same time, the use of NFT to provide shooting props has attracted a group of creators and collectors, forming a well-received economic model. "SNPIT", as a representative XX of "mobile application × Web3 game", shows new possibilities.
CoinMusume (Coin Girl)
“Coin Girl” is a blockchain game that personifies cryptocurrencies as idol characters and will be released in December 2024. Players can engage in non-real-time battles through characters, predict the cryptocurrency market based on the points earned, and obtain tokens based on the results. Before the game was released, the project actively carried out marketing activities and cooperated with many Web3 projects such as the game guild company "IGG", the platform that provides virtual worlds "Yay!" and the Japanese yen stable currency "JPYC", which attracted widespread attention.
Briliantcryto
Image Source: Brilliantcryto Formula
In 2024, the GameFi project "Brilliantcrypto" launched in Japan attracted much attention with its theme of mining gems and pyroxene. Players obtain BRIL tokens through mining and use the tokens to purchase NFT props such as pickaxes or gems to improve in-game efficiency and enjoy upgrades. The project conducted an IEO on Coincheck, a large Japanese crypto-asset exchange, which sparked heated discussions among individual investors and became a hot topic among GameFi enthusiasts. "Brilliantcrypto" is one of the representative works in the Japanese GameFi field in 2024.
Yay!
Image source: Yay!, Web3 Functional Overview とエアドロップサイト will be published on August 28th
The social application APP "Yay!" has accelerated the expansion of the Web3 field in 2024 and attracted much attention. This platform with more than 9 million users provides a community space for sharing interests and hobbies. In particular, the "Yay! Staking Campaign" launched in August has become an important step in strengthening the Web3 ecosystem. By staking Ethereum, users can obtain the NFT "Yay! Pal" used in the game and obtain the utility token "EMPL". This mechanism attracted Web2 users to participate and boosted expectations of mass adoption. In addition, decision-making through the governance token "YAY" and cooperation with the liquidity staking protocol "StakeStone" provide diversified rewards, and the new token economic model has become a hot topic.
ikB
FiNANCiE is a platform that allows anyone to issue unique tokens or collectible cards. In January, well-known Japanese Internet celebrity Ikehaya issued its character IP token on the FiNANCiE platform, attracting a large number of domestic Internet celebrities to issue their own corporate tokens or community tokens. What is particularly eye-catching in 2024 is that Internet celebrities in the business field, such as Takafumi Horie and entrepreneurs who participated in the YouTube program "Reiwa Tigers", issued their own tokens on FiNANCiE, which became a hot topic.
3-3. Main media used to obtain personal user information
In 2024, the main media for Japanese individual users to obtain information related to crypto assets has the following characteristics: X (formerly Twitter), which is highly real-time, has become the main platform for many users to obtain news and market dynamics. While YouTube remains one of the popular media, the decline in crypto asset-related channels has resulted in the amount and quality of information not being as good as before.
In addition, users keen on investing are increasingly using Discord and Telegram, and these platforms have become places for discussing in-depth topics and exchanging professional information.
In terms of professional media, CoinPost, CoinDesk Japan, and Cointelegraph Japan are popular for providing high-credibility information related to industry trends, technical interpretations, and regulation. These media become the primary source of information for investors from beginners to advanced and are a vital resource on the crypto asset market.
3-4. Well-known cryptocurrency influencers in Japan
X has 53,000 followers. Served as the chief marketing officer (CMO) of the famous Japanese encryption community " boarding bridge ". He is also the CMO (Chief Memecoin Officer) of CRYPTO TIMES, a well-known Japanese media, and has Japan's top professional knowledge in the field of MEME currency information.
X has 20,000 followers. Share interesting stories about Web3 games through platforms such as X and YouTube . He also founded GAMIES Co., Ltd., a company that supports Web3 game marketing.
X has 88,000 followers. From gaming to DeFi, widely share cryptocurrency-related information. Served as the co-founder of the well-known Japanese encryption community " OtakuLabs ".
X has 20,000 followers. Operates AirdropList, an online media that provides the latest airdrop information on selected virtual currencies (cryptoassets). Research global DeFi projects daily and provide detailed explanations for beginners in a simple and easy-to-understand way.
X has 30,000 followers. Publish airdrop information and latest news on selected cryptocurrencies through X and the media it operates.
X has more than 300,000 followers. He is the founder of ISC, the largest Web3 influencer community in Japan. He once worked as a producer of Web2 mobile games for a large Japanese company and achieved the third-highest sales ranking in Japan. It has attracted much attention by applying its expertise in Web2 to Web3 marketing.
Summary: Challenges and potentials of Japan’s Web3 industry coexist
Looking back at the Japanese Web3 industry in 2024, there are both development highlights and many challenges. Although the improvement of the regulatory system and the emergence of new projects are exciting, the high entry barriers for individual investors and the lack of globally renowned Web3 projects are still stubborn problems that need to be solved.
In particular, the lack of vitality in the crypto asset market and the harsh tax system are considered to be the core factors inhibiting market growth. Compared with South Korea, which has stimulated an active retail market through tax incentives, Japan's lag in tax reform has resulted in the loss of huge opportunities. Tax reform is a key area to enhance global competitiveness, and action needs to be taken as soon as possible.
In addition, enterprises have not yet fully understood the commercial application of blockchain. Although this area is regarded as full of innovation potential, many companies still have no idea how to translate it into commercial value. This has led some companies to be cautious about entering the Web3 field.
Lack of technological competitiveness is also a major challenge. Japan still lacks Web3 projects with international influence on a global scale. To occupy a place in the international market, the industry needs to work together to promote the cultivation and support of developers.
Still, the author believes Japan is full of possibilities. As the regulatory system improves, local revitalization projects and corporate challenges steadily advance, Expo 2025 Osaka will be an excellent opportunity to showcase these results to the world, and a good time for the overall expansion of the Japanese Web3 market.
Pacific Meta will provide support as a bridge between the Japanese market and overseas Web3 companies. We will leverage our expertise to provide one-stop services from capital raising, consulting, business development to marketing. If you are considering expanding into the Japanese market, please feel free to contact us.
