Major Growth Across All Metrics & Notable Launches:

NEAR is a top protocol for real-world apps with millions of users and is the top L1 by user retention. To this day, the NEAR network has never experienced an outage, even during major updates to the protocol which happen live. Here are some growth highlights (with numbers from Dune and Artemis):

• 40 million monthly active users, up from 7 million this time last year
• 4 million daily active users, up 4x this year
• 8+ million daily transactions, doubled from the start of the year (with average fee at $0.002)
• 4 of the top apps in all of Web3 by monthly active users:
  • KAIKAI: 31.7 million MAU
  • HOT Wallet: 4.2 million MAU
  • SWEAT: 1.6 million MAU
  • Playember: 500k MAU
• $700 million in stablecoins flowed into the NEAR ecosystem, a 20x increase YoY
• New ATH in natively issued stablecoins in May at $760 million, with a 5x increase in DeFi TVL from $88 million to $430 million
• NEAR ecosystem teams raised $146 million in external capital in 2024
• Nightshade 2.0: NEAR now has 6 shards live, a 50% capacity increase over the start of the year (and soon to be 8 shards in Q1). The protocol working group shipped Nightshade 2.0 sharding, marking the biggest protocol upgrade since mainnet launched in 2020 and introducing Stateless Validation.
• Accelerators: the Foundation ran 3 successful accelerator cohorts, 2 for AI and one for Chain Abstraction, whose participating teams raised $50.5 million in funding
• ETH wallet compatibility: NEAR is now fully compatible with MetaMask, Phantom, and other ETH wallets
• Hosted [REDACTED]: our annual flagship conference moved to Bangkok this year, with 1200 attendees, 1600 hackers, and 6300+ transactions on the conference app

NEAR is the Blockchain for AI 

The entire internet is experiencing a paradigm shift towards AI + blockchain, and NEAR is uniquely positioned to lead this AI-first future. We must ensure that AI is truly open source and shared by all rather than controlled by a few mega-powerful corporations. It also must preserve users’ privacy and sovereignty and should be free to use, yet monetizable and sustainable for its builders and developers.

• In May, the NEAR Foundation announced that it would focus on User-Owned AI with co-founder Alex Skidanov leading R&D. 
• At [REDACTED] in November, we launched NEAR AI in Alpha with app.near.ai, a research hub building a 1.4T parameters model in a fully open way, and chat.near.ai, a user-owned AI assistant that can act on the user’s behalf in both Web2 and Web3 by connecting with other AI agents and services.
• The NEAR AI ecosystem now includes more than 50 top AI teams across research, infrastructure, data & storage, models, and applications. 

A key part of the vision for AI is about abstracting specific blockchain elements away from user experiences to improve accessibility and ease of use. Users will interact primarily with agent-driven interfaces across the entire Web; Chain Abstraction enables agents to seamlessly deliver a range of finance, commerce, and degen types of experiences on the user’s behalf. Some highlights from 2024 now making this possible:

• Chain Signatures: enable smart contracts to sign transactions on any blockchain. Live across mainnets for chains using ECDSA, with EdDSA coming soon.
• Intents: a new transaction type on NEAR allowing information, requests, assets, and actions to be exchanged between AI agents, services, and end users. Intents let agents interact with each other and complete actions across Web2 and Web3, which forms the basis for the next generation of the internet. Demo Intents app is here.
• Infinex partnership: Infinex, founded by Synthetix creator Kain Warwick, aims to abstract away UX challenges and complexities at the core of DeFi. Integrating Chain Signatures and NEAR Intents will bring Infinex closer to feature parity with centralized exchanges.

What’s Next?

We will be full speed ahead in January: building an ecosystem for autonomous agents, enabling agentic commerce, developing TEE infra for verifiably private inference, and hosting monetizable models. The momentum is already starting: check out Eliza running multichain swaps on @ai16zdao using NEAR intents. NEAR AI and Frax are teaming up to build truly autonomous agents using NEAR infra. And SWEAT is integrating AI assistant into their wallet UI.

2025 is the year of Blockchain for AI. We believe this focus for NEAR is the best way to ensure the future internet is owned by more than a few companies and supports sovereignty for users. We will make sure everything we do levels up to this mission and helping founders and builders understand why they want and need to be a part of it.

Thanks to everyone in the NEAR community for your work and commitment this year. –Illia

The post 2024 NEAR Year In Review appeared first on NEAR Protocol.

You may recall that [REDACTED] is a global convergence to shape the future of User-Owned AI and Chain Abstraction—a future where technology belongs to the people, not corporations. 

It’s an IRL movement gathering November 9-11 in Bangkok. It’s a worldwide hackathon kicking off September 5. It’s a defining moment to unify the collective working on these technologies to reclaim our sovereignty.

Are you in?

The IRL movement: speakers announced, apply to attend

[REDACTED] is a whole IRL movement: 1,500+ devs, builders, founders, funders, researchers, regulators, and more gathering in person, November 9-11, at the Avani+ Riverside Hotel Bangkok.

Some things can only happen IRL, and some are just way better. Like:

• Gaining insights from the teams defining the intersection of AI and Web3
• Upskilling and learning how to develop AI x Web3 products and apps
• Forming deep connections to build the user-owned future together

[REDACTED] will feature a wide range of curated sessions, workshops, and discussions led by the people driving AI x Web3 and Chain Abstraction. We can finally share that this includes:

• Illia Polosukhin (NEAR)
• Curtis Spencer (Electric Capital)
• Anand Iyer (Canonical)
• Maartje Bus (Messari)
• Matt Stephenson (Pantera)
• Calanthia Mei (Masa)
• Evrard-Nil Daillet (Google)

And more to come as we get closer to Bangkok.

Tickets to the [REDACTED] IRL movement are totally free—you just have to apply to attend, either as a participant or as a hacker (about which, see below). Visa letters are available to support visa applications.

For the absolute latest on the movement, join the official [REDACTED] Telegram channel.

[REDACTED] Hackathon Registration Is Live

Registration for the [REDACTED] hackathon is OPEN.

The [REDACTED] hackathon sets top problem-solvers to collaborating on the biggest issues in AI x Web3 and Chain Abstraction. Kicking off September 5, it’s eight weeks remote so teams can go deep, and it culminates at the IRL movement in Bangkok, November 9-11. 

Hackers accepted into the hackathon can expect workshops and tutorials on industry-leading tools, interactive discussion and support from category/ecosystem experts, and, oh yeah, a chance at over $500k+ in bounties and prizes.

There will also be travel scholarships so qualifying hackers can be IRL in Bangkok for the awards ceremony—and to participate in the IRL movement.

Get Involved with [REDACTED]

There are a lot of ways [for partners?] to get involved with [REDACTED], from digital marketing exposure and exclusive access to side events to major visibility at the IRL movement. Find what’s right for you.

The post [REDACTED] Speakers Announced, Hackathon Registration Is Live appeared first on NEAR Protocol.

The week kicked off with NEAR co-founder Illia Polosukhin delivering a keynote at the Open Source AI Summit titled “Why the World Needs User-Owned AI.” Illia presented the case for investing in open-source, User-Owned AI, emphasizing the importance of collaboration in proactively managing risk, improving user safety, and formally verifying code. He stressed that all data used in training AI models must be open-source to ensure transparency, unpack potential biases, and debug issues effectively.

Later in the week, Illia delivered a keynote presentation on the NEAR AI Hub and AI Developer concept. His talk sparked considerable interest, particularly regarding the transformative potential of Developer AI. The audience was captivated by the vision of a system where individuals, regardless of their technical expertise or financial resources, could transform their ideas into fully-fledged, decentralized, and scalable applications simply by interacting with an AI-driven development platform. This lower barrier to entry for app creation promises to accelerate innovation across the blockchain ecosystem and even in Web2.

NEAR’s presence at EthCC extended beyond AI discussions. Altan Tutar, CEO of Nuffle Labs, showcased Nuffle’s pioneering work on data availability, demonstrating how NEAR technology is scaling Ethereum L2s. This presentation highlighted NEAR Protocol’s versatility beyond its L1 capabilities and its potential to defragment Web3.

Alex Shevchenko from Aurora Labs introduced Forwarder, a personal bridge designed for seamless token transfers between centralized exchanges and various chains, addressing the rapid growth of new blockchains in the ecosystem.

A significant highlight of NEAR’s participation was the Chain Abstraction Day Brussels on July 10th. Co-hosted with Agoric Systems, this event marked the culmination of NEAR’s year-long series on interoperability and the future of multi-chain apps and transactions. The day-long program covered different methodologies to achieve chain abstraction to intents, data availability, and infrastructure, including a talk from Illia on what’s next in the NEAR ecosystem’s contributions to Chain Abstraction. A special fireside chat between Agoric’s Dean Tribble and Illia delved into architecting next-gen Web3 apps.

The NEAR AI Tech Showcase on July 11th further demonstrated NEAR’s commitment to innovation. The event featured live demonstrations of AI-powered blockchain applications, giving attendees hands-on experience with the latest developments from the NEAR ecosystem. Underpinning these developments was the NEAR Horizon AI Incubation Program, a strategic initiative designed to kickstart NEAR’s AI ecosystem by collaborating with top-tier Web3 x AI projects.

NEAR’s presence at EthCC 2024 offered the rest of the Web3 ecosystem a tangible vision of a User-Owned AI future with real technologies already taking shape. By championing the transfer of power and ownership to users, NEAR aims to unlock a myriad of benefits: enhanced productivity, improved search results, personalized experiences, and novel economic opportunities, all while maintaining a steadfast commitment to privacy and security. The ecosystem’s overarching goal remained clear: to onboard 1 billion users to a new open internet. NEAR’s unique position at the intersection of blockchain and AI showcased its readiness to address the growing demand for decentralized artificial intelligence, leveraging Web3’s inherent strengths to forge a truly user-owned digital landscape. As the event concluded, it was evident that EthCC 2024 marked a defining moment for NEAR Protocol, highlighting its visionary approach, technological prowess, and unwavering commitment to a decentralized, user-centric future.

Interested in learning more about User-Owned AI and the teams building the ecosystem? Check out the NEAR AI Office Hours series.

The post EthCC 2024: User-Owned AI Takes Center Stage appeared first on NEAR Protocol.

The NEAR AI x HZN Incubation Program is part of the NEAR Foundation’s strategic vision to build a User-Owned AI ecosystem that provides alternatives to the corporate-owned, centralized AI monopolizing the landscape today. By putting the power of AI where it belongs—in the hands of users—the goal is to maximize the benefits of AI for people and communities, provide novel economic opportunities, and accelerate creativity and innovation. 

The inaugural NEAR AI x HZN Incubator cohort includes the following teams:

• Mizu is building the first synthetic open data layer aimed at fostering an open, collaborative data ecosystem for AI developers.
  • NEAR and Mizu are developing expansive, open data platforms that support AI research and applications.

• Pond develops foundational crypto models using Graph Neural Networks (GNNs) to analyze on-chain data and predict future behaviors.
  • NEAR and Pond are collaborating on NEAR-native foundational AI models and tools that enhance decentralized applications’ ability to operate at scale.

• Nevermined creates robust payment infrastructure tailored for AI-commerce, facilitating transactional ease for AI developers.
  • NEAR and Hyperbolic are innovating AI agents for applications to streamline and secure payment processes within the AI ecosystem.

• Hyperbolic provides an open-access AI cloud, featuring a GPU marketplace and AI inference services.
  • NEAR and Hyperbolic are working to provide projects with the computational power and hosting AI models necessary for intensive AI tasks.
    
• Ringfence empowers creators and artists to monetize their work while maintaining secure ownership, aiming to be a Web3 version of DALLE-3 that directly benefits creators.
  • NEAR and Ringfence are collaborating on pathways for data monetization, labeling, and indexing of user-generated content.
    
• Exabits supplies GPU compute in a data center environment, providing the essential physical and technical conditions for serious AI training, inference, and fine-tuning.
  • NEAR and Exabits are working to democratize access to high-performance compute resources for the NEAR ecosystem.
    

“We’re thrilled to welcome these six top-tier AI teams to the User-Owned AI ecosystem on NEAR,” says Illia Polosukhin, Co-Founder of NEAR Protocol and CEO of NEAR Foundation. “Spanning data, models, compute, and inference, these projects are innovating in key parts of the emerging AI stack and represent the best of AI x Web3 projects building today.”

The AI incubation program isn’t just about individual project development: it’s about contributing to a larger vision of a collaborative and user-owned AI ecosystem, one in which users and developers have access to pioneering AI solutions that are secure, decentralized, and empowering end users as well as researchers contributing to open source. Each participating team will contribute to the growing NEAR AI x Web3 infrastructure product stack, ensuring that development is shared across the User-Owned AI ecosystem, and fostering a community-driven approach to AI development.

Participants in the NEAR AI x HZN Incubator will receive extensive support over the program’s initial twelve weeks, and in subsequent phases through May 2025. That support includes access to NEAR’s AI expert network, dedicated technical and token launch support, access to compute, and funding opportunities. 

Interested in following along with these exciting teams building the future of AI x Web3? 

1. Join the NEAR Foundation at ETHCC in Brussels, July 11, for the NEAR AI Tech Showcase and hear directly from the founders in the current incubation cohort. RSVP: NEAR AI Tech Showcase.
   
2. Tune in to the weekly NEAR AI Office Hours every Tuesday with NEAR co-founders Illia Polosukhin and Alex Skidanov.

The post NEAR Foundation Launches Incubation Program to Build Infrastructure for User-Owned AI appeared first on NEAR Protocol.

“Autonomous Agent” is the first event in the “{Chain}-of-Thought” series from Edge, which will explore and harness the potential of Web3 and open source AI. Edge is a research and development organization dedicated to democratizing access to open intelligence and advancing the evolution of next-generation web architecture. Hackers can expect hands-on hacking sessions, workshops, and mentorship opportunities with a chance to learn from those at the cutting edge of decentralized AI development. 

The intersection of Artificial Intelligence (AI) and Web3 technology is poised to revolutionize industries, with many Web3 projects now incorporating AI into decentralized applications and developer tools. Ethereum Co-Founder Vitalik Buterin recently shared his observations about the intersection, and NEAR Co-Founder Illia Polosukhin shared how AI fits into the vision for the NEAR ecosystem in a recent post. 

As the risks from centralized AI controlled primarily by major corporations become more apparent, investing in open source, transparent AI development will become increasingly important––along with community building, governance experiments, and advocacy. “{Chain} of Thought” will lead the way in bringing members of the AI and Web3 ecosystems together to advance these initiatives and make concrete progress.

In addition to the premier sponsors, the “Autonomous Agent” hackathon is co-sponsored by EigenLayer, Gensyn, and Hyper Oracle, with co-hosting participation from Sentient, Lightspeed, and Symbolic Capital. Benefits of participation include:

• Cutting-Edge Workshops: Engage with industry experts and thought leaders through immersive workshops exploring the latest trends and technologies in AI x Web3.
• Hackathon Challenges: Tackle real-world challenges and showcase your creativity by developing innovative solutions at the forefront of AI and Web3 integration.
• Networking Opportunities: Connect with like-minded individuals, potential collaborators, and industry professionals to expand your network and exchange ideas.
• Prizes and Recognition: Compete for exciting prizes and gain recognition for your contributions to the advancement of AI x Web3 technology.

Join NEAR Foundation, Polygon Labs, and Edge in Denver and be a part of the next great tech revolution. Those interested in attending the Decentralized AI Summit can register here. Researchers, developers, and hackers interested in participating in the hackathon can apply here. 

The post Inaugural AI x Web3 Hackathon and Decentralized AI Summit to Debut at ETH Denver 2024 appeared first on NEAR Protocol.

Throughout the past few years, NEAR has engaged, collaborated, and built with partners who share the vision of a decentralized, user-centric open web. Each partnership is contributing their unique, innovative flair to the ecosystem, with a scalable, user-friendly blockchain helping to propel their efforts.

As NEARCON ‘23 approaches, let’s celebrate and explore how NEAR’s collaborations and partnerships are shaping the future of the open web. By registering for and attending NEARCON ‘23, you’ll be able to meet some of the following founders, entrepreneurs, and innovators below.

And these names are just the tip of the iceberg, so don’t forget to register for NEARCON ‘23 and let’s take part in learning, networking, and building an open web together.

Creating consumer fun and engagement in the open web

An area where NEAR partnerships are thriving is making the blockchain more fun and engaging for the masses. NEAR’s partnership with NFT launchpad Mintbase is a perfect illustration. Mintbase recently celebrated the traditional Indian festival, Raksha Bandhan, by seamlessly transforming photos into NFTs on the NEAR blockchain. 

During Raksha Bandan, sisters tie a good-luck talisman around the wrists of their brothers, a special moment often photographed and cherished by families. With Mintbase’s open web wallet built on NEAR, users could easily create an account without seed phrases and seamlessly upload their photos, transforming them into NFTs in an instant.

Let’s also toast to  GLASS, a one-of-a-kind Web3 platform that empowers alcohol brands to engage directly with consumers. Built on the NEAR blockchain, spirit brands can issue token rewards and other blockchain perks to social drinkers who try new cocktail recipes, socialize with friends, and vote on brand decisions. 

Gaming is also a key entry point into the open web, and NEAR’s partnership with PlayEmber is kicking the door wide open. PlayEmber’s creative gaming studio is fusing AAA quality mobile games on the blockchain, with NEAR providing the backend foundation. Decentralized mobile gaming experiences are now becoming more accessible to a wider audience.

Then there’s Cosmose AI’s KaiKai, a fusion of shopping, retail, and gamification dubbed”Shoppertainment.” Built on NEAR’s Blockchain Operating System (B.O.S), KaiKai offers a captivating brand discovery avenue, with features like Augmented Reality (AR) product interactions, exclusive product drops, and celebrity live streams. 

More than just a shopping app, KaiKai also uses a native cryptocurrency, Kai-Ching. Shoppers earn rewards with the help of Cosmose’s AI-powered personalization, all while transacting on the NEAR blockchain. It’s all about enhancing personalization, user empowerment, and engagements in the retail space with a unique, powerful blockchain twist.

And in a fusion of health and blockchain, Sweatcoin’s partnership with NEAR helps people earn SWEAT tokens with literally every step towards better fitness. With a user base of over 63 million who’ve clocked in more than 19 trillion steps, Sweatcoin and NEAR are incentivizing  healthier lifestyles.

Oleg Fomenko, co-founder of Sweatcoin, believes in the potential of merging health and blockchain, enabling users to “walk into the world of crypto.” This partnership, built on the NEAR blockchain, personifies the next level of open web adoption, encouraging physical wellness via crypto-based rewards.

Financial empowerment and innovation on NEAR

One of the biggest challenges that the open web is addressing is financial empowerment and inclusion. NEAR Foundation’s partnerships in this area are helping bring that vision to life. The Foundation’s collaboration with Proximity Labs is helping talented builders create innovative Web3 financial solutions, with substantial grants and support.

Calimero Network is another example of NEAR’s commitment to financial innovation. Calimero provides what’s called ‘private sharding’ infrastructure, a feature that ensures  data privacy in Web3 finance without sacrificing the power of open-source platforms. With both financial and technical support from NEAR, more business can be safely conducted on the blockchain.

Building the technical foundation for tomorrow’s open web

The ongoing partnership between NEAR Protocol and Octopus Network signifies the ecosystem’s infrastructure strides. Early on, Octopus Network selected NEAR as its “mother-chain” protocol citing speed ability to accommodate a large user base. Octopus Network and NEAR are paving the way for developers aiming to launch tailored applications using their own dedicated blockchains — also known as “Appchains” — making deployment a breeze.

Partnering with a tech infrastructure behemoth like Google Cloud is another way of giving Web3 startups pathways to world-class startup expertise. It’s all part of NEAR’s commitment to making blockchain solutions more accessible, robust, and primed for mainstream adoption.

In collaboration with Urbit, NEAR is also continuing to make the open web more user friendly. Urbit’s vision — shared and supported by the NEAR Foundation — is to improve the frontend experience of open web apps. Urbit allows developers to easily create sleek designs so that tomorrow’s decentralized applications are as seamless as the most popular ones in the App Store.

On another front, NEAR’s collaboration with SailGP is bringing Decentralized Autonomous Organizations (DAOs) to professional sports, creating a bridge between leagues and fans. The introduction of a DAO-owned racing team on the NEAR Protocol gives fans a novel way to engage, interact with, and participate in active decision making along with teams and athletes.

Partnership innovation rolls on at NEARCON

Past, current, and future partnership will take center stage at NEARCON 2023 — now less than a month away. It’ll be four full days of full immersion into the NEAR ecosystem — a place for you to truly step into the open web. Build on the B.O.S and network with thousands of other blockchain enthusiasts. Get the inside scoop on onboarding Web2 companies into Web3 with Google Cloud’s James Tromans, and get the low down on SWEAT with Oleg Fomenko.

From raising a glass to blockchain brand loyalty with GLASS and setting sail towards new DAO horizons with SailGP, each and every NEAR partner is playing its own pivotal role in crafting how tomorrow’s open web experiences will look, feel, and even taste. Better decentralized infrastructure, financial empowerment, and exciting consumer experiences are just the start.

Ready to dive into sessions, hackathons, and more in Lisbon at NEARCON 2023? Go ahead and register now to secure your spot.

The post Built on NEAR: Celebrating Partners and Innovators at NEARCON ’23 appeared first on NEAR Protocol.

The event was spearheaded by the NEAR Vietnam Hub with support from the NEAR Foundation, exemplifying strong commitment and collaboration between local and global ecosystem stakeholders.  ICYMI, here are some of the biggest sessions, announcements, and events from NEAR APAC 2023.

ICYMI, here are some of the biggest sessions, announcements, and events from NEAR APAC 2023.

Web3’s bright investment outlook in Asia-Pacific

One of the most encouraging and optimistic sessions was moderated by NEAR’s Head of Finance, David Norris, focusing on the current and future outlook of blockchain investment and development in the region. David was joined by Web3 venture veterans Riccardo Pagano from Outlier Ventures and Whiplus Wang of IVC crypto.

The trio dove into the current state of blockchain investment in APAC, and how Web3 might just ascend to becoming one of the most invested sectors in the region from a venture and infrastructure perspective. Ricardo in particular emphasized that he’s seeing a shift in perception from investors, with Web3 going from a niche technology to its own broad-based sector.

“Even though we’re technically in a bear market, investment in Web3 sub-sectors like gaming is still strong,” added Whiplus. “Games like Angry Birds and Fruit Ninja were instrumental in onboarding Web2 users onto the smartphone, for example. That’s why investment into blockchain game publishers is increasing — to find that killer game that onboards billions.”

Whiplus also likened successful blockchain startups to a bowl of Pho, with a blend of technical and business elements being integral to a delicious final dish. The panel also touched on technical nuances like ZK rollups and modular blockchains, emphasizing the need to invest in talent and innovation through initiatives like hackathons.

The session encapsulated a forward-looking perspective on Web3’s trajectory. With the bar for founder participation evidently rising, the panel stressed the importance of education in the space. There was unanimous optimism about Southeast Asia’s digital future as potentially outpacing even established tech hubs like Korea and Japan.

NEAR supports B.O.S. and blockchain builders in APAC

Tons of activity also took place in and around the Builder Stage, with the NEAR Foundation and local blockchain organizations teaming up to educate and assist developers, builders, and job seekers in advancing themselves into Web3. Cameron Dennis, CEO of Banyan, led a panel on the stage informing developers on how to upskill from Web2 to Web3.

Local developer advocates from notable projects like the Graph and Khyber network also participated in sessions, workshops, and panels on the Builder Stage designed to upskill local blockchain professionals. There was something for everyone, from a job fair for Web3 newbies to a Greenhouse area connecting founders and projects to VCs for funding.

Exploring everything from dApp architecture to tokenomics, the Builder Stage action was highlighted by an incredible Hackathon, with participants receiving guidance from experts like Oleg Fomenko, founder of SWEAT. On the final night of the festivities, NEAR co-founder Illia Polosukhin presented awards to the winners on stage in front of a packed main hall.

Pagoda takes the main stage to talk user adoption and FastAuth

Alex Chiocchi, the CPO of Pagoda, showcased FastAuth during his session titled “Unlocking the Power of B.O.S: Product Update for Founders & Developers.” FastAuth aims to redefine the user experience for developers and founders, addressing the longstanding challenges of both onboarding and retaining new Web3 users.

A primary takeaway was how FastAuth’s next release will minimize gas fees when onboarding, thus removing barriers for end-users. The introduction of multiparty compute (MPC) allows proofs from various organizations to be combined, simplifying processes like email recovery. Chiocchi emphasized the potential for users to migrate effortlessly from Web2 logins, hinting at a seamless integration between the two web generations.

Discussing the nuances of retaining users in Web3, Chiocchi stressed that coin incentives alone aren’t sufficient. The “toothbrush test” was highlighted, illustrating that many apps don’t become daily necessities for users. Trust plays a pivotal role, especially with the rise of scams in the decentralized space. 

Side events and after-parties storm the streets of Saigon

NEAR APAC fully embraced the “work hard, play hard” ethos of Vietnam and Asia-Pacific. Even during the event, there were LED dancers, Manga Cosplay, and several massive DJs and party breaks. Not to mention the NEAR APAC Opening Night party at the Intercontinental Hotel, where Illia officially welcomed attendees and kicked things off in an intimate setting.

And in one of the coolest side events in recent NEAR memory, Dap Dap showcased its platform to B.O.S. enthusiasts at the My House meeting venue nestled in one of Saigon’s many cozily-lit alleyways. Dap Dap is the first commercial B.O.S. product and will act as a gateway to hundreds of chains and protocols for users from a single, user-friendly interface.

B.O.S Beats by DAO Records was the grand finale of NEAR APAC, offering a vibrant blend of hip-hop beats from prominent DJs on the decentralized record label. Held at Indika Saigon — and with pizza supplied by Pizza DAO — attendees enjoyed live performances, refreshments, and networking opportunities with the global and APAC NEAR communities. 

NEAR APAC was an incredible Web3 Bánh Mì, layering an eclectic mix of speakers, insights, and events to create something completely unique. The NEAR Foundation would like to thank every cook in the kitchen, especially local partners like the NEAR Vietnam Hub who made sure that the first ever NEAR APAC had the perfect mix of sweet, sour, and spicy.

The post ICYMI: Scootering Through Web3 at NEAR APAC’s Vietnam Showcase  appeared first on NEAR Protocol.

With each session, industry leaders shed light on challenges and the future trajectory of the fast-paced Web3 ecosystem in APAC. From the unique positioning of Web3 gaming in Asia to the potential rise of the next Web3 cycle, the discussions were varied and far-reaching. Let’s dive on into all the Day 2 happenings at NEAR APAC in Vietnam!

APAC experts discuss the next big trends in Web3

Let’s begin the Day Two recap with a standout panel diving into the next big Web3 trends. Experts agreed that it won’t just be about technological progress, but also the transformative ways that blockchain will weave into daily life. Asset tokenization, generative AI integration, and the proliferation of decentralized creator economies were some top trends on the table.

“Generative AI and asset tokenization are revolutionizing Web3 ecosystems, especially in growing economies like India,” said Sudeep Choudhari, head of blockchain at the India National Payments Corporation. “As integration across borders accelerates, we’ll also challenge traditional FX rates, anticipating a future with minimal cross-border payment costs.”

Hanna Tantoco, APAC Marketing Director at Blockdaemon, piggybacked on the transformative role of generative AI in enhancing blockchain user experiences. She also pointed out the rising prominence of gaming in Asia, particularly on NEAR. Additionally, she highlighted Singapore’s burgeoning creator economy, powered largely by NFTs, as another future trend.

How brands can futureproof themselves with blockchain

Another morning highlight was a panel discussion about how brands and enterprises can harness the potential of Web3 to adapt and thrive. Key points revolved around democratizing user data control, countering data monopolization by tech giants, tokenizing assets, and challenges in linking the physical and digital worlds.

“Enterprises often face challenges with hiring experts who may quickly move on to other projects,” observed Oleg Fomenko, founder of SWEAT. “While consultancies can provide insights, the real breakthrough comes when you start building and experimenting with MVPs. Though initial attempts might fall short, perseverance can yield surprising results.”

Alex Chiocchi, CPO of Pagoda, added that Web3 streamlines verification, challenging traditional ad networks. By using an open blockchain system, excessive fees are prevented, promoting shared value with users. This shift allows benefits like self-custody and reputation while redistributing margins back to the people.

Among the key takeaways from the session was that businesses harnessing blockchain’s capabilities can anticipate a transformative impact on the global economy, especially with asset tokenization’s projected growth through 2030. As brands navigate challenges like ensuring digital authenticity and early adoption, having a targeted strategy is crucial.

Web3 gaming: Asia’s landscape and blockchain utilization

The Asian gaming landscape is buzzing with the rise of Web3 development, promising an unprecedented era of innovation and user empowerment. Central to discussions at the “Web3 Gaming: Asia Landscape” session was the gaming community’s appetite for asset and data ownership, often prioritizing this over the complexities of Web3 itself.

After attending Korea Blockchain Week, it’s evident that Japan and Korea’s mobile giants are pioneering in Web3 gaming,” said Luke Xie, founder of gaming VC fund Press Start Capital. “As opposed to Web3 games like Axie, creating AAA games takes much longer. Given the rapid pace of crypto, former mobile developers align better with this fast-paced dynamic.”

Ishank Gupta, co-founder of Kratos Studios in India, emphasized that gamers prioritize asset and data ownership over backend Web3 tech. He predicted that blockchain games should bring benefits that gamers care about with a focus on ease of usability. For instance, leading studios in India are integrating well-known IP into Web3 games while ensuring they remain engaging.

“We’re witnessing a new golden age of gaming driven by indie studios,” added Xie. “Small teams, empowered by AI, are crafting games that punch above their weight. We believe that on-chain gaming, while difficult to execute at present, is the future. It’s all about selecting the right chain based on tech, community, and support. NEAR excels at all of the above.”

The panel agreed that the Web3 gaming industry in APAC and beyond is undergoing a transformative phase, with blockchain offering gamers more control over assets and data. As developers continue to build, the focus will be on seamless onboarding, speed, and user-centric experiences. Blockchains should be subtly integrated without disrupting the gaming experience.

Bringing Web3 together with Multichain: a call for collaboration 

Today’s blockchain landscape consists of independent Layer 1’s vying for supremacy, bringing up the core question of interoperability. With users often navigating several ecosystems, creating cross-chain experiences becomes paramount. This star-studded panel explored new frameworks to address hurdles and challenges in the current siloed multi-chain user experience.

“Web3’s ethos is modularity, similar to Lego blocks,” explained NEAR CEO Marike Flament. “While we prioritize access and user growth, interoperability challenges persist. But trust and unified solutions drive adoption, not a fractured approach. It’s essential that technology seamlessly serves the end user.”

Cameron Dennis, CEO of Banyan, added that key management is a critical issue. He pointed out ways to simplify these processes with tools like FastAuth. Dennis added that addressing the noticeable gap in cross-chain liquidity should be a focus. He believes that a true multichain future that drives adoption will solve key and wallet management for a better UX.

“Reflecting on a decade in this space, the competitive landscape has shifted,” mused Mary Beth Buchanan from the Cardano Foundation who is also an advisor to NEAR, “Earlier, exchanges hesitated to collaborate, fearing a loss of advantage. Today, there’s a collective push to learn from one another, ensuring technology works seamlessly for the end user.”

Cameron believes that reinforcing the current ecosystem is paramount before extending cross-chain efforts, even though creating a decentralized internet remains a resource-intensive endeavor.

Marieke stressed the importance of open-source technology in attracting top talent. Drawing inspiration from Web2’s approach to 5G standardization, she suggested that Layer 1 leaders could unite in an ‘L20’ alliance to champion unified standards, fostering a unified vision for the industry’s future.

And that’s a wrap for the official Day 2 sessions at NEAR APAC. From gaming and brand adoption to multi-chain standards and collaboration, it was clear that this first-of-its-kind regional event was a rousing success for developers and the NEAR community alike. Sunday in Saigon rolls on with more side events and after-parties, so stay tuned for the full ICYMI tomorrow.

The post NEAR APAC Day 2 Recap: Asia Gaming Trends, Interoperability, and Web3 for Brands appeared first on NEAR Protocol.

The day was charged with excitement, drawing over 8,000 attendees from various corners of the APAC region and beyond. With Web3 thought leaders, innovators, and enthusiasts converging in Vietnam, Day One of NEAR APAC kicked off with a slew of riveting discussions, industry insights, and speculations on the future of the Open Web with a focus on APAC.

From discussions around regional growth and investment potential to how AI and blockchain will transform the future of work, here’s everything that went down at an incredible start to NEAR APAC.

Setting the stage for NEAR APAC with Vietnam in focus

The event kicked off with a focus on southeast Asia, with NEAR’s Vietnam country director Riley Tran welcoming attendees and providing context as to Asia’s critical role in the overarching development and expansion of Web3. Tran was followed by two NEAR luminaries, CEO Marieke Flament and co-founder Illia Polosukhin.

“Asia’s young demographics and rapid digital growth, especially in Vietnam, position it as a leader in crypto and blockchain growth,” Riley explained. “With over 100 million new internet users in just three years, Asia’s momentum in Web3 is accelerating”

Marieke added that the overall NEAR ecosystem remains strong with over 29M active wallets and 650K daily active accounts. She added that a collaborative approach to building tomorrow’s Open Web is critical for tackling significant societal and digital challenges.

“Today’s Web 2.0 is closed and siloed, with the prevailing digital culture being a toxic dialectic,” Marieke expressed. “But the value loop of an Open Web holds immense promise. We’re already seeing how projects like KaiKai, SWEAT, and PlayEmber can move the needle in the right direction.”

Echoing Mariek’s sentiment, Illia emphasized that it’s not necessarily about championing a specific blockchain, but about creating a common layer and interface for the Open Web. This is precisely what the Blockchain Operating System (B.O.S.) is in the process of achieving.

“Looking forward, tech isn’t the only focus,” said Illia. “It’s about blending scalable solutions with user-centric experiences, with the B.O.S. becoming the essential entry point into Web3 for both users and developers.”

Asia’s role in mainstream adoption and regulatory hurdles

The push for mainstream blockchain adoption in APAC was also in focus on Day One, with NEAR Foundation CMO Jack Collier leading a panel discussion on current adoption challenges and how APAC can potentially lead the way in overcoming them.

“I’m extremely bullish on gaming as a key part of mass adoption,” opined Don Pham, Google Cloud’s regional Web3 specialist. “Vietnam is the birthplace of Axie Infinity, which is just the beginning of blockchain gaming’s potential. Use cases like loyalty, gaming, and music NFTs combined with better UX will likely be the path forward.”

The discussion dove deeper into the importance of user experience in the adoption of blockchain. Marieke reiterated that while technology forms the backbone, the real test will be simplifying the user journey, which can significantly hasten adoption across the APAC region as well as globally.

Regulation was also in focus with a panel about blockchain policies and APAC’s vision for governments and associations. Mary Beth Buchanan, a board member of the Cardano Foundation, drove home the need for regulatory clarity while discussing regional frameworks in countries like Hong Kong.

“The biggest challenge is not necessarily regulation, but lack of clarity,” observed Buchanan. “If regulations are unclear that will cause investors not to want to invest in the space. Builders become hesitant to build and users aren’t going to know what the rules are. Regulators need to recognize that clarity is what everyone wants.”

Spotlight on Artificial Intelligence during the afternoon sessions

Day One of NEAR APAC dedicated a significant chunk of its schedule to exploring the intricate interplay between AI and blockchain, particularly their role in APAC’s future technology and Web3 landscape. Illia took the stage just after the lunch break to discuss the Convergence of AI and Web3, diving deep into AI-empowered DAO and the future of AI-assisted work.

“While technologies like ChatGPT have found product market fit, much of AI is still siloed and doesn’t empower open source communities and projects,” Illia posited. “Web3 can operate in the middle, with AI models incorporating all participants and data sources. DAOs, for example, can be co-piloted by AI to achieve goals and KPIs faster and more efficiently.”

In the following panel discussion entitled “The Roles of Blockchains in an AI World,” Illia was joined by several AI and blockchain experts from the APAC region. One of the more distinguished panel members was Dr. Nguyen An Khuong, a lecturer and blockchain researcher from Ho Chi Minh University of Technology, who provided an academic perspective. 

“We have a lot of research endeavors in Vietnam around ensuring AI’s ethical applications using blockchain,” commented Dr. Nguyen. “We’re looking at how transparency and accountability in AI decisions can be drastically improved with blockchain technology. Combining a neutral AI with a blockchain’s public ledger could enhance the ecosystem and foster wider adoption.”

Illia drove home that the potential “Skynet” scenario of AI taking over the world is mostly a projection of what humans might do if they were given supercomputing powers. In reality, developments like the B.O.S. and NEAR Tasks will aid humans in success and productivity, with AI agents acting as middlemen for assistance, sourcing, and even creativity.

Day One of the first-ever NEAR APAC was a rousing success, with these highlights just being the tip of the iceberg. The crowd was treated to bánh mì’s and Manga cosplay during lunch, B.O.S. building and gaming workshops on the Builder Stage, and an awe-inspiring NFT gallery from APAC creators.

As the sun sets in Saigon, the NEAR Foundation couldn’t be more appreciative of the Vietnamese crypto community. The momentum rolls on tomorrow with Day Two, so stay tuned for more updates and insights around emerging APAC trends in Web3, how blockchain gaming is taking off in Asia-Pacific, and local DeFi developments. 

If Day One was any indication, the NEAR community’s growth, presence, and development in APAC will only continue accelerating through 2023 and beyond!

The post NEAR APAC Day One: Scaling Local Adoption, Regional Regulation, and AI in Web3 appeared first on NEAR Protocol.

For us at the Foundation, hearing directly from builders provides invaluable insight into the state of the ecosystem and how we can best continue to support the people and projects that make it what it is. What we have heard so far is that while financial support is important as the NDC fully ramps up, every project has a unique set of needs that requires a holistic approach to provide the right support, and that simply re-starting a grants program is not the right solution. To make sure that we get as many perspectives from across the ecosystem, we will be leaving the form open for one more week (until September 4th) to give anyone who needs support a chance to have their voice heard.

Once the form is closed and we have had a chance to review all of the inputs, we will then begin setting out a broader plan — in alignment with the NDC — to ensure projects get the support they need as we continue moving forward on the path to decentralization. The moment we have the full insights from these conversations, which should be within the next few weeks, we will share them in a follow-up blog post along with a clear plan on how we will be moving forward. 

We are excited to have so much interest from builders, and look forward to creating a plan that can help keep grassroots projects engaged and building.

You can sign up for a time to speak with the Ecosystem Relations Team here.  

The post Update on the Grassroots Support Initiative appeared first on NEAR Protocol.