Been traveling to Singapore for the last two years, and if there’s one thing I’ve learned, it’s that Token2049 is like the crypto industry's own F1 Grand Prix—just with fewer cars, but way more tokens.
This year, the annual crypto conference week was not only about serious blockchain talk but also ran right into the adrenaline-fueled backdrop of the Singapore Grand Prix. And believe me, that combination creates quite the buzz.
Token2049 isn't just a conference anymore; it’s a full-blown crypto carnival stretching beyond two days into a week-long ecosystem takeover. Think of it as the Super Bowl of crypto where even the side events have side events! Last year, there were around 300+ side events.
This year? Over 500! And who says crypto folks don't know how to party?
Key Takeaways from the Madness:
Conference Overload: It wasn’t just Token2049 dominating the agenda. In between grabbing coffee and contemplating blockchain’s next move, you could also squeeze in a few extra conferences like RWA Summit, Chain Fusion Day, and the Bitcoin Summit. My personal favorite? Trying to navigate all these events without passing out from information overload!
No More Whitepapers!: Want funding? You better show up with something more than just a fancy PDF. The number one question at every meeting: “Do you have a live product? Is it on Testnet?” If you’ve still got only a whitepaper in 2024, you might want to consider another career. It's refreshing though—finally, we’re talking real products, real users, and (fingers crossed) real money!
Grants and Hackathons Are Alive, But Tough: Grants and hackathons are still a thing, but the bar’s high, as it should be. If you’re a developer hoping for easy money, welcome to 2024—it's time to earn it!
Builders Galore (Mostly from SE Asia): Developers are flooding in from Southeast Asia like never before. DeFi, DePIN, RWA—you name it, they’re building it. These guys are quietly revolutionizing the space, one protocol at a time.
F1 Meets Crypto: And what’s a conference in Singapore without some F1? Every year, Token2049 ropes in an F1 driver to chat crypto. Last year, it was Daniel Ricciardo; this year, the unstoppable Max Verstappen! Crypto and F1… what’s next? Tokenized pit stops? As a Redbull and Maxie fan, they did not have the final laugh as they were 1st runners up on the race day!
Rule No. 1: Build Anything Consumer-Friendly and Entertaining!: The message was clear—if you want to get ahead in 2024, your product needs to be fun, engaging, and simple enough for anyone to use. Projects that focus on entertainment and consumer-friendliness are standing out in a space that’s typically bogged down by complexity.
We’re in the Midst of an Infrastructure Bubble: Everyone’s still talking infrastructure, but it feels like we’ve reached saturation. The next frontier? Applications. Infrastructure might be essential, but without killer apps, we’re just building without direction.
Solana Is Only Getting Stronger: Once dismissed, Solana is proving it’s here to stay. With massive partnerships and a growing ecosystem, Solana’s ascent shows no signs of stopping. Developers, users, and investors are all piling in.
TON Ecosystem—Hyped but Still Waiting for the Right Entry: Everyone’s buzzing about TON (The Open Network), especially after Telegram’s recent push. But there’s still a sense of hesitation. While the potential is undeniable, many are waiting for that perfect moment to jump in.
RWA Needs Retail Adoption and Traction First to Go Mainstream: Real-World Assets (RWA) are making headlines, but the general consensus is that it needs the backing of retail users to really go mainstream. Institutional interest is growing, but until we see everyday consumers involved, RWA will remain niche.
The Future of Memes and NFTs Looks Bright: The era of memes and NFTs isn’t over; in fact, it’s just getting started. Whether it’s tokenizing digital culture or creating viral moments, NFTs are poised for a strong comeback. Projects that can combine meme culture with utility are especially well-positioned.
Bitcoin Season Is Still Here: While many are focusing on new projects and trends, Bitcoin remains at the core of the conversation. A robust community and increasing institutional involvement suggest that Bitcoin’s influence is only growing. From Bitcoin Layer 2 solutions to applications that bridge DeFi and BTC, it’s clear the original crypto isn’t going anywhere.
Even KOLs (Key Opinion Leaders) Are Fundraising: It’s not just startups raising capital—crypto influencers and thought leaders are diving into the investment game. Whether they’re launching their own funds or backing emerging projects, KOLs are more involved in shaping the future of Web3 than ever before.
The Asian Crypto Scene: Bullish Vibes All Around
One of the biggest shifts this year? Asia’s solidifying its place as the it region for crypto. While the U.S. wrestles with regulations, Asia is charging ahead like a bull in a DeFi shop. Hong Kong, Singapore, and Dubai are leading the charge with crypto-friendly environments. South Korea, Japan, and Vietnam? They’re developing some of the strongest communities and trading ecosystems. Honestly, if you’re not building in Asia, you might want to rethink your strategy.
VCs Changing the Game
VCs have gone from chasing infrastructure to targeting Dapps like there’s no tomorrow. The infra wave might be hitting a saturation point, but hey, there’s no shortage of Dapp excitement. If you’ve got something to show in gaming, DeFi, or social apps, the spotlight’s on you.
Adoption Is Coming (For Real This Time)
Layer 2s are growing like crazy, but the real challenge? Getting users and liquidity. With the likes of Telegram teaming up with TON Blockchain to launch a self-custodial wallet, onboarding 800 million users could become a reality soon. Mass adoption is no longer a distant dream—it's here, just maybe not as evenly distributed as we’d like.
Solana's Breakpoint – The Afterparty (But Not Really)
After Token2049, Singapore turned into Solana Breakpoint Land. It was a different crowd, full of hardcore Solana enthusiasts. These guys weren't just talking the talk; they were walking the blockchain walk. Franklin Templeton and Solana teamed up, and even Societe Generale's Euro-pegged stablecoin made its debut on Solana. Let’s not forget rumors of a possible Citi Bank partnership—now that could be a game-changer.
Fun Fact: Builders Are Bullish Again!
Builders are back, baby! The crypto winter might’ve slowed things down, but now, with talks of Bitcoin Layer 2s and decentralized AI, the space is heating up once more.
And Vitalik Buterin? He dropped a Grammy-worthy mic moment, proclaiming that “ZK is the End Game!” Yep, Zero-Knowledge proofs are the future. You heard it here first (well, second if you were there).
And For Us at Foundership...
It’s been an amazing week for us at Foundership. XDC Demo Day by Foundership was amazing. We had 9 fantastic startups pitch to a room full of VC's, Market Makers, Ecosystem folks and community.
We’ve been swamped with meetings, chatting with everyone from startups to VCs to ecosystem partners. The recognition we’re getting? Crazy!
Its unbelievable to think that just a couple of years ago, we were new to the scene, and now we’re making waves with our portfolio companies!
We are just getting started!
In a Nutshell:
Real-World Asset Tokenization is hot. BlackRock, Goldman Sachs, and others are backing this, so expect to see commodities like oil and gold tokenized soon.
DePIN is reshaping industries. Who knew we’d be decentralizing physical infrastructure like servers and wireless networks?
Stablecoins continue to be crypto’s killer app. Expect them to grow stronger, despite the turbulence.
TradFi Meets Web3: Big names like JP Morgan and Goldman Sachs are pushing blockchain adoption through ETFs and tokenization.
Token2049 2024 wasn’t just about showcasing the next big thing—it was about solidifying the blockchain revolution in the mainstream. So whether you’re building, investing, or just along for the ride, there’s no doubt: the next bull run is going to be wild. And I, for one, can't wait!
Cheers to the builders, the hustlers, and the believers in this space—we’re just getting started!
