lolo's Japan #Webx2024 Conference Guide
1. From many questions to many expectations
- The Japanese Crypto market has always been judged as closed and conservative, with strict regulations and slow efficiency. However, government officials from the Prime Minister have expressed their support for various Web3 conferences. This contrast and division always makes me very curious and want to know the future development direction.
- Sony Chain—Soneium, which Sony has been planning for more than a year, was finally officially announced two weeks ago . Combining Astar's many years of operating experience and technology, and backed by Sony's rich IP resources, there is a lot of room for imagination . But the possible pain point is that if the final "Sony Web3 Ecological World" is still a "selective application of blockchain technology as a marketing gimmick, and the core is still a traditional approach from top to bottom" and cannot achieve more innovative breakthroughs, it may even hit the creativity of the Japanese crypto industry. (I'm really curious about how many interesting answers Sota can write on this highly anticipated answer sheet in the future)
2. Different cultural soils produce different logics of behavior
- For example, many Chinese people view the "failed uprising" against the old Japanese public chain Astar, but for local Japanese people, its publicity is successful: Sota's proximity to politicians and various publicity have made $ASTR the most recognized local token among the people; a friend asked the bus driver if he knew Astar, and the driver directly replied that he was the holder. Regardless of the outside comments, the information communication bridge from the project end to the user end has been built, which is a good start.
- Comparing Japan with other mature crypto markets from a global perspective is a harsh criticism. Public opinion is a sharp sword, and the overall crypto market is still turbulent. Instead of making mistakes by messing around, Japan should not create too many disruptive things that have never been seen before, and be a conventional bystander and recorder.
3.Japanese projects in the Chinese market? Not yet.
- It is not difficult to see from the types of projects in the past two years that IP-oriented content is still the main focus of Japanese project parties, and the corresponding NFT and GameFi projects have always been the characteristics of the Japanese crypto industry. Even though Japanese IP culture is popular all over the world, the growth environment and cultural background are still invisible barriers . Instead of spending a lot of time/money to educate overseas people, it is better to make the domestic ecology good and refined first. To a certain extent, it is also a continuation of the consistent craftsman spirit, with confidence and love for their own IP, and carefully crafting high-quality content, and not wanting them to rashly go overseas and become a wave of products without being ready .
- Although the content seems to be less rich and lacks vitality, for the current market, hot money is not in the crypto. Even the liquidity in the market is scarce, so what is the point of increasing production efficiency? It is not cost-effective to do this now.
- The Web3 field is updating and iterating at a very fast speed. DApps that can accelerate the expansion of the circle also rely most on infra built on a good technical foundation. However, there is a shortage of excellent IT talents in China, and technical barriers have led to a limited ceiling for innovation.
4. Side events, building deep connections between people
- Compared to watching the host read the script at the main venue, the side events of the vertical community make the connection between people more real. This year, the Tokyo Tower event of Gate was very fancy, and the location of Zen & the art of Monad X Backpack was also very memorable (Zen means full of Namaste).
- Members of the local Japanese crypto community and DAO organizations brought their rigorous work responsibilities into the chilling Web3 atmosphere. This remix combination allowed people to see small flames of firm belief burning in foreign countries, even when people around them were generally impetuous due to the cold market, and they were passed on to different people little by little during the activities.
*I found that when I was in a community I liked, I felt energetic and happy from the bottom of my heart. Armani is really energetic (highlight again: @BlockBeatsAsia is also a media service brand that Backpack has deeply cooperated with)
Inheriting the genes of a media person, I always want to ask people of different roles in the field about their views on the Japanese crypto market. Almost most people would say "Emmm" and frown when answering. At first, I was also curious, why some people directly choose to give up exploration under the heavy fences, while others still come here to open up wasteland and cultivate.
From what I have felt over the past few days, it seems that the people of this tiny country were among the first to embrace cryptocurrency. However, due to the early hacker attacks, government regulation intervened early on. Since then, in order to comply with numerous compliance regulations, project owners have had a very low risk appetite, and their conservative mentality has led to a slightly closed behavioral paradigm.
However, as a new round of upward cycle in the crypto market is about to come, and more and more capital is turning its attention to Japan's blockchain industry, be more patient, the future is still worth looking forward to. All the best equipment and resources are quietly being prepared in the trough, waiting for a gunshot from the future.
PS: (The 5s earthquake experience on the night of landing was amazing. My favorite merch items are the green $MEW and the Solana hat. Sol eco rules the world!) I am very grateful to my internet friends who finally met me in person for giving me all kinds of help and introductions. The kind interaction between people is indeed a good medicine to maintain mobility.
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