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.

That’s because the region has some of the highest adoption rates of Web3 technologies anywhere in the world. In Japan, more than five million people currently own cryptocurrency, the South Korean government became the first to directly invest in the metaverse, and   almost 70% of people in Southeast Asia alone have used at least one metaverse-related tech in the last year.

One of the leaders in the region is Vietnam. In recent years, international investors have flooded into Vietnam and established funds specialising in blockchain – with capital inflows into non-fungible token (NFT) assets rising from 37 million USD to 4.8 billion USD in 2021. 

It’s why the NEAR Foundation is one of the leading investors in Asia, thanks to its partnerships with the likes of Alibaba Cloud, and why it’s hosting its first major conference in Vietnam.

Taking place September 8-12 NEAR APAC will bring together more than 100 global blockchain leaders to discuss blockchain’s unlimited future through the latest blockchain technology updates, development trends, and how blockchain ecosystems drive Web3 mass adoption. 

Vietnam on the rise 

Vietnam has all the ingredients to become a Web3 super power. The country has 

more than 400,000 skilled software engineers, produces 50,000 IT graduates annually, and has an IT labour force more than a million strong. 

The nation’s software engineers rank at an impressive 8th place globally in terms of capability — 95% of which have bachelor’s degrees or higher in IT. It’s unsurprising then to hear that Vietnam now has 3,800 blockchain-related projects, 200 venture capital funds, and 100 project incubation funds to support the country’s startups. 

Vietnam’s tech landscape is now full of startups and innovation hubs fostering creativity in Web3. Local incubators and accelerators provide mentorship, resources, and networking opportunities for Web3 entrepreneurs. 

That growth also has government support. In 2021, Vietnamese Prime Minister Pham Minh Chinh greenlit the country’s “e-government” development strategy designed to create regulatory clarity for Web3 projects. Last year, the country launched its first official blockchain association, which is helping blockchain builders and business owners become a bigger part of the regulatory conversation.  

Its chairman, Hoang Van Huay, has shared the Vietnam Blockchain Association’s commitment to “providing consultation on building legal framework, regulations, and standards in developing services and products on blockchain”. This commitment is part of a broader mission to accelerate the growth of blockchain technology in Vietnam.

It’s no wonder then that Vietnam ranks first in the Global Cryptocurrency Adoption Index released by Chainalysis, up from 10th place the year before. 
Vietnam is on the rise, and the NEAR Foundation is here to support it. Join us at NEAR APAC on 8-12 September 2023 in Ho Chi Minh City.

The post How Vietnam Became a Web3 Powerhouse  appeared first on NEAR Protocol.