introduction
Currently, Japan is trying to open a new chapter on the Web3 stage. As a country at the forefront of the world in the field of crypto asset regulation, Japan's efforts are not limited to the improvement of laws and regulations, but also as a bridge connecting new technologies and society, attracting widespread attention at home and abroad. This trend is further accelerating, and Japan's environment around Web3 is also developing rapidly.
As the world explores the possibilities of Web3, what direction is Japan heading towards? What specific regulations have been formulated? 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 Developments of Web3 in Japan in 2024" from three perspectives: "Society and Politics", "Enterprises", and "Individual Users".
This article was written by Web3 accelerator Pacific Meta, a specialist firm that drives Web3 innovation by providing services such as funding, marketing and business development support.
1. Social and political trends
1-1. Ishiba Shigeru's new government
In September 2024, in the Liberal Democratic Party presidential election, Shigeru Ishiba was elected as the new president. Due to the Japanese system, the leader of the ruling party will serve as prime minister in principle. Therefore, Mr. Ishiba, as the president of the current ruling Liberal Democratic Party, will become the new leader of Japan and be responsible for forming a new government. Under the previous Kishida administration, Japan has been committed to promoting the development of Web3, and people expect this trend to accelerate further under the Ishiba administration.
Of particular note is the presence of Councillor Masaaki Taira, head 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, Councillor Taira was appointed Minister of Digital Affairs in the new administration. His appointment to this important position is believed to further enhance his influence and voice in policy decisions.
In Japan, Web3 technology is seen as the key to driving the growth of the new economy, so people have been looking forward to the improvement of relevant regulations and legal systems. With the establishment of the Ishiba administration, the intensity of policy promotion is expected to be further strengthened. In particular, in terms of legal clarification in the Web3 field and measures to enhance international competitiveness, it is expected to usher in accelerated development.
1-2. Changes in regulation and taxation
The "end-of-period market value assessment tax" for corporate entities will no longer apply
As part of the major tax reform in 2024, crypto assets held by legal persons are excluded from the scope of application of the "end-of-period market value assessment tax". Previously, domestic legal persons had to bear the tax risk of unrealized gains simply because they held crypto assets, which led many companies to choose to set up overseas legal persons to conduct business. This policy adjustment has created an environment for domestic Japanese companies to focus on business activities without worrying about the tax burden of unrealized gains.
Japan's improvement of crypto asset regulation began with the revision of the Funds Settlement Act in 2017. Through this law, crypto assets such as Bitcoin were recognized as means of payment and positioned as digital assets different from legal tender. Subsequently, in 2020, ICO (initial coin offering) and STO (security token offering) were included in the regulatory framework of the Financial Instruments and Exchange Act, establishing a foundation for the purpose of protecting investors. In addition, in 2023, Japan introduced relevant regulations for stablecoins (crypto assets pegged to the value of legal tender), allowing the legal system in the Web3 field to develop steadily.
However, in terms of the tax system, no significant progress has been made for many years. In particular, the tax system for companies holding crypto 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 at the end of the year are taxed, namely the "end-of-year market value assessment taxation" system. This system ignores the risk of cryptocurrency price fluctuations and imposes a financial burden on many companies. Therefore, many companies that want to do business in Japan choose to avoid holding crypto assets domestically and instead set up legal entities overseas to operate their businesses.
The tax reform is expected to promote an increase in token issuance and fundraising in Japan, making Japan a more attractive market, especially for startups and new businesses considering entering the 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, income from personal crypto asset transactions is classified as "miscellaneous income" and taxed according to the comprehensive tax system, with the highest tax rate reaching 55%. The heavy tax burden and complicated declaration procedures have become major obstacles for many individual investors.
As the head of the Web3 project team of the ruling Liberal Democratic Party, Councillor Taira pointed out the adverse effects of the current tax system on individual investors at the "WebX2024" meeting in August 2024. He stressed that the tax system for individual investors' crypto asset income should be changed to a 20% separate declaration tax similar to financial income. If this reform is achieved, it will not only reduce the burden on individual investors, but also help to activate the domestic market.
As the discussion on tax reform progresses, the government and the Financial Services Agency are paying close attention to their movements. According to multiple reports, the discussion is progressing steadily. If the tax reform for individual investors is eventually implemented, it is expected to expand the domestic retail investor base and drive the overall growth of the crypto asset market.
The Financial Services Agency’s Change of Regulatory Attitude
Previously, the Financial Services Agency had strictly regulated 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 in the scope of the Financial Instruments and Exchange Act. This move suggests that crypto assets may be redefined as "financial products" by law. If this classification is achieved, it may bring about the following important changes:
Accelerate tax reform
Treating crypto assets as financial products may promote further improvement of the tax system, thereby reducing the tax burden faced by individual investors and businesses.
Discussion on the introduction of Bitcoin ETF
The reclassification will pave the way for financial products involving crypto assets, making the launch of Bitcoin ETFs 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 the relaxation of regulations on the use of in-game tokens, aiming to provide a more friendly environment for game companies to flexibly use tokens. These policy changes may promote the growth of crypto-asset-related businesses and help Japan's Web3 industry gain a greater advantage in international competition.
1-3. Expansion of business opportunities brought about by the new legal system
Allowing the establishment of DAOs, limited liability companies
On April 22, 2024, Japan officially allowed the establishment of DAOs (decentralized autonomous organizations) in the form of limited liability companies (LLCs). This legal amendment enables DAOs to obtain formal legal person status in Japan, operate as contractual entities, and own assets such as real estate. 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 blockchain industry at home and abroad.
In the process of establishing a limited liability company, The DAO faced many legal challenges, the two most important of which were "the handling of employee rights tokens" and "the obligation to disclose employee information." Regarding "the handling of employee rights tokens," this system revision will identify some of the tokens issued by The DAO as "non-profit distribution tokens" or "tokens held by executive employees" and treat them as Class II securities under the Financial Instruments and Exchange Act. Regarding "the obligation to disclose employee information," the new system allows The 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.
Cabinet approves legal amendments to allow LPS to invest in crypto assets
In February 2024, the Ministry of Economy, Trade and Industry of Japan passed a legal amendment allowing limited liability partnerships (LPS) to hold crypto assets. This amendment enables LPS, which traditionally mainly invests in traditional financial products such as stocks and bonds, to invest in and hold crypto assets.
Previously, Japan’s LPS was unable to invest in crypto assets, causing domestic Web3 projects to rely 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 review in Congress. If it is passed smoothly, it is expected that domestic venture capital will officially start investing in tokens from 2025.
1-4. Local public bodies’ practices in Web3 applications: 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 - Precedents Emerge
Tokyo is promoting local regional revitalization using Web3 technologies.
In the "Hometown Tax Return Gift NFT Project" jointly launched by Mitaka City and FC Tokyo, a new form of donation was created by using limited edition NFT digital art in collaboration with FC Tokyo as hometown tax return gifts. Sports fans and local residents can enjoy the fun of NFT while supporting Mitaka City.
On the other hand, the "Qingdao DAO Project" is committed to DAO-ing Qingdao, an outlying island of Tokyo, emphasizing the opinions and participation of residents, 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, in order to protect tourism resources, a token-based crowdfunding method is adopted. Funds are raised by issuing tokens to open old folk house restaurants and hotels. In this way, people who care about regional revitalization can participate in the form of financial support.
These practical cases clearly demonstrate that Web3 brings new value to local society.
Osaka: World Expo helps 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 a diverse experience for the Expo venues and related facilities and realize a cashless Osaka World Expo.
Based on this platform, a digital stamp collection NFT activity around restaurants around the Expo venues was launched in April 2024. Users can collect digital stamps from restaurants they have visited and enjoy the fun of stamp collection.
In addition, the Osaka City Museum Organization also plans to launch an NFT-based digital stamp collection event in November 2024 to welcome the World Expo, using digital technology to enhance the experience of visiting museums.
At the same time, Habikino City in Osaka Prefecture 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 World Expo, Osaka Prefecture is actively utilizing Web3 technology to achieve further development of local revitalization and digital society.
2. Company News
2-1. Financial Industry Trends
Sony Bank: Launching multiple Web3 technology application initiatives
In 2024, Sony Bank announced a series of initiatives based on Web3 technology, clarifying the 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 options. In addition, Sony Bank has also begun a pilot issuance of stablecoins 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 the Web3 entertainment application "Sony Bank CONNECT". 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 the display of NFTs in the 3D gallery "Rooms", further enhancing the entertainment experience.
These initiatives fully leverage the Sony Group's strengths in the entertainment sector while exploring the potential of Web3. Sony Bank is committed to going beyond traditional financial services through Web3 technology, creating an integrated "finance × entertainment" complex industry for individual users, and demonstrating a new service and value vision.
2-2. Dynamics of the gaming industry
Sony: Officially entering Web3, attracting attention at home and abroad
The Layer 2 blockchain "Soneium" launched by "Sony Block Solutions Labs", a joint venture between Sony Group and Startale, has attracted much attention in the Japanese Web3 industry as a whole. The company was established in September 2023 and combined the technical strengths 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 centered on rights protection and benefit sharing. This release has led to the active development of related projects. In August 2024, YGG Japan announced the launch of "YAIBA", a game-specific Layer 3 chain connected to Soneium, to support the construction of the environment required for Web3 game development.
Square Enix: Partnership with SuiPlay
At the Korea Blockchain Week held in September 2024, Sui developer Mysten Labs surprisingly announced that its portable Web3 gaming platform "SuiPlay" has reached a cooperation with Square Enix, a large Japanese game development company. SuiPlay uses simple and highly scalable blockchain technology to provide a platform that easily integrates traditional game development with Web3. Although the specific content of the cooperation has not yet been made public, this move shows the potential of Web3 in the traditional game market and has attracted the attention of the entire industry.
double jump.tokyo: A new game in the "Three Kingdoms War" series developed using SEGA IP
double jump.tokyo announced at the Tokyo Game Show 2024 that a new blockchain game licensed by Sega, Battle of Three Kingdoms, is officially under development. Based on Sega's popular game "Battle of Three Kingdoms", this game uses NFT technology to bring players a brand new gaming experience.
2-3. Dynamics of the real estate industry
NOT A HOTEL: Raising 5.5 billion yen to expand business
In the real estate industry, the innovative company "NOT A HOTEL" that uses NFT has attracted widespread attention. The company's core business model is shared villas. Users can buy 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 new locations at home and abroad, especially in tourist destinations and resorts, to attract foreign investors and tourists to purchase.
In addition, in October of the same year, the company launched its own token "NAC" through IEO. NAC holders can use tokens to book and rent accommodation, 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 location selection and operation policies. NAC is regarded as an important cornerstone to support the user-participatory ecosystem.
2-4. Dynamics of the transportation industry
Toyota Blockchain Lab: Exploring Tokenization of Car Usage Rights through “Smart Accounts”
In 2024, Toyota Blockchain Lab (TBL) announced a vision: to tokenize car-related rights and manage them through "smart accounts" to link various car services.
This smart account is different from a traditional account. It is a "mobile-oriented account (MOA)" based on 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 unlock and perform other operations through smartphone applications. In this way, users can freely assign permissions for different operations. For example, full operation permissions can be granted, or permissions can be set to only unlock and lock the trunk, with an expiration date. In addition, this digital way of managing car usage rights is expected to promote the realization of 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. The 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 has started a pilot test in cooperation with Toyota Motor. The pilot test mainly involves collecting and analyzing the driving data of the vehicle, screening out safe drivers, and issuing non-transferable NFTs, namely "Soul Bound Tokens (SBT)", to those drivers who are certified as safe drivers. This is the first time that the transportation industry has tried to use blockchain technology to permanently record the certification of safe driving. In the future, it is also planned to build a more economical mechanism for related transportation services based on these certifications. This move is expected to promote safe driving and promote the development of a transportation society.
2-5. Power Industry Dynamics
Tokyo Electric Power Grid: Launching a trial of a mobile game application for photographing power infrastructure
Tokyo Electric Power Grid, in collaboration with Greenway Grid Global and Digital Entertainment Asset, has launched a trial of a game application called "PicTrée". Through the application, users can take pictures of utility poles and power infrastructure and compete against each other. This not only provides entertainment for users, but is also expected to improve regional infrastructure maintenance and early detection of equipment anomalies through games, creating value for society.
2-6. Environmental Industry Trends
Klima DAO Japan: Launching Carbon Credit Trading for the ReFi Project in Japan
In 2024, Klima DAO established the Japanese legal entity "KlimaDAO Japan" and worked to develop 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 opportunities for participation in greenhouse gas emission reduction.
On November 19, the company launched the "KlimaDAO JAPAN MARKET" trial, using the Polygon blockchain to tokenize J-Credit to improve the liquidity and transparency of transactions. Several companies, including Mizuho Financial Group and Optage, participated in the trial, which is expected to be open to the public in spring 2025. These initiatives are aimed at solving problems in Japan's carbon credit market and contributing to addressing climate change, and have received widespread attention.
2-7. Communications Industry Trends
NTT Docomo: Launches Web3-compatible wallet
NTT Docomo launched the Web3-compatible wallet "scramberry WALLET" through its Web3-promoting subsidiary "NTT Digital" established in 2022. Users can easily register using only their phone number, and the wallet data is stored in the cloud with a backup function 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: Collaboration with Animoca Brands
KDDI has partnered with Animoca Brands Japan to sell NFTs for the blockchain game PHANTOM GALAXIES on KDDI's NFT market platform "αU market" in March 2024. This collaboration strengthens the connection between the communications industry and Web3 and builds a new business model that utilizes NFTs.
2-8. Food Industry Trends
Suntory: Combining NFT with beer
Suntory used Avalanche technology to launch a beer with NFT, "THE PREMIUM MALT'S Masters Dream〈Yamazaki Original Barrel Aged〉2024". This limited edition beer is aged in barrels used to mature whiskey at the Yamazaki Distillery, and the bottle is equipped with an NFC (Near Field Communication) tag. When consumers open the bottle cap, NFC will sense and generate a unique digital collectible NFT as proof of consumption. This move aims to increase customer loyalty and give higher value to the experience of purchasing limited products.
Calbee Foods: Let "French Fry Brothers" and "Shrimp Fries (かっぱえびせん)" appear in popular Web3 games!
Calbee Foods announced that it will cooperate with Web3 games for the first time 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 virtual and reality is proposed. In addition, the interoperability between games will be used to carry out the "WEB3 GAME FES" event to enhance interaction and cooperation.
2-9. Watch and clothing industry trends
CASIO COMPUTER: Launches "VIRTUAL G-SHOCK" and collaborates with "STEPN GO"
Casio is actively promoting its marketing to Web3 users through the virtual space communication project "VIRTUAL G-SHOCK". The project cooperates with the Web3 lifestyle application "STEPN GO" to strengthen the connection with young users centered on Generation Z. This move demonstrates the potential of Web3 in the watch and apparel industry and has become a model of brand strategy in the digital age.
3. Individual users and individual investors
3-1. Trends 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.
On 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 in January 2024, these three exchanges had a total of 356,917 unique wallets, which increased to 408,039 by November 2024.
Based on these data, if the number of unique wallets with external wallet addresses is considered to be 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 3.4 million.
Similarly, if we calculate the total number of accounts in January 2024, it is about 2.97 million. Therefore, the number of new accounts in 2024 is expected to reach 426,000. Although there are still two months left in 2024, the growth rate is the same as in previous years, which shows that the number of accounts in domestic exchanges is steadily increasing. It is expected that the number of individual investors holding crypto assets will continue to grow in the future.
3-2. Japanese Web3 projects attracting much attention in 2024
SNPIT
In 2024, the unique GameFi model "SNPIT" with photography as the theme attracted widespread attention. Players hold camera NFTs in the app, take photos with smartphones, and receive token rewards by voting. This mechanism cleverly combines social network (SNS) elements and successfully promotes the interaction of community communication. At the same time, the use of NFTs to provide shooting props has attracted creators and collectors, forming a highly acclaimed economic model. "SNPIT" is a representative XX of "mobile application × Web3 game", showing new possibilities.
CoinMusume
"Coin Girl" is a blockchain game that personifies cryptocurrency as an idol character and was released in December 2024. Players can use characters to fight in non-real time, predict the market of cryptocurrency with the points obtained, and obtain tokens based on the results. Before the release of the game, the project actively carried out marketing activities and cooperated with many Web3 projects such as the game guild "IGG", the platform that provides a virtual world "Yay!", and "JPYC" that provides Japanese yen stablecoins, which attracted widespread attention.
Briliantcryto
In 2024, Japan launched the GameFi project "Briliantcrypto", which attracted much attention with the 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 the fun of upgrading. 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. "Briliantcrypto" is one of the representative works in the Japanese GameFi field in 2024.
Yay!
The social application APP "Yay!" has accelerated the expansion of the Web3 field in 2024 and has attracted much attention. This platform, which has more than 9 million users, provides a community space for sharing interests and hobbies. In particular, the "Yay! Staking Event" launched in August has become an important step in strengthening the Web3 ecosystem. By staking Ethereum, users can obtain NFTs "Yay! Pal" for in-game use and obtain utility tokens "EMPL". This mechanism has attracted the participation of Web2 users and boosted expectations of mass adoption. In addition, decision-making through the governance token "YAY" and cooperation with the liquid staking protocol"StakeStone" provide diverse rewards, and the new token economic model has become a hot topic.
FiNANCiE
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 have the following characteristics: X (formerly Twitter), which has a high real-time performance, has become the main platform for many users to obtain news and market dynamics. Although YouTube is still one of the popular media, the reduction in crypto-related channels has resulted in less information and quality than before.
In addition, users keen on investing are increasingly using Discord and Telegram, which have become places to discuss in-depth topics and exchange professional information.
In terms of professional media, CoinPost, CoinDesk Japan, and Cointelegraph Japan are popular for providing highly credible information on industry trends, technical interpretations, and regulation. These media have become the main source of information for beginners to advanced investors and are important resources for the crypto asset market.
3-4. Famous Cryptocurrency Influencers in Japan
ADMEN
X has 53,000 followers. He is the Chief Marketing Officer (CMO) of the famous Japanese crypto community "boarding bridge". He is also the CMO (Chief Memecoin Officer) of the well-known Japanese media CRYPTO TIMES, and has top expertise in the field of MEME coin information in Japan.
Noroi-chan
X has 20,000 fans. He shares 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.
MA-LUCIAN
X has 88,000 followers. He widely shares information related to cryptocurrencies, from games to DeFi. He is the co-founder of the well-known Japanese crypto community "OtakuLabs".
taka__crypto
X has 20,000 followers. He runs AirdropList, a web media that provides the latest airdrop information of selected virtual currencies (crypto assets). He studies global DeFi projects every day and provides detailed explanations for beginners in an easy-to-understand way.
Bankera Dao
X has 30,000 followers. Airdrop information and the latest news of selected cryptocurrencies are released through X and its operated media.
Ratte
X has more than 300,000 followers. He is the founder of ISC, the largest Web3 influencer community in Japan. He worked as a producer of Web2 mobile games in a large Japanese company and achieved the third-highest sales in Japan. He applied his Web2 expertise to Web3 marketing, which attracted much attention.
Summary: Japan’s Web3 industry faces both challenges and potential
Looking back at the Japanese Web3 industry in 2024, there are both bright spots and challenges. Although the improvement of the regulatory system and the emergence of new projects are exciting, the high entry threshold 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 strict tax system are considered to be the core factor inhibiting market growth. Compared with South Korea, which stimulated the active retail market through tax incentives, Japan's lag in tax reform has led to the loss of huge opportunities. Tax reform is a key area for improving global competitiveness and needs to be taken as soon as possible.
In addition, enterprises have not yet fully understood the commercial application of blockchain. Although this field is considered to be full of innovation potential, many enterprises still do not know how to convert it into commercial value. This has led some enterprises to be cautious about whether to enter the Web3 field.
Insufficient technological competitiveness is also a major challenge. Japan still lacks Web3 projects with international influence worldwide. To gain a foothold in the international market, the industry needs to work together to promote the training and support of developers.
Despite this, the author still believes that Japan is full of possibilities. With the improvement of the regulatory system, local revitalization projects and corporate challenges steadily advancing, the 2025 Osaka World Expo will be a great opportunity to showcase these achievements to the world, and a good time for the overall expansion of the Japanese Web3 market.
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