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DWF Ventures: There are more crypto builders in Taiwan than VCs and crypto institutions|ABS 2024TON Summit

Odaily2024/08/13 09:51
By:Odaily

Original article from DWF Ventures

Compiled by Odaily Planet Daily Golem ( @web3_golem )

The 2024 Asian Blockchain Conference (ABS 2024) and TON Open Summit were held in Taipei. DWF Ventures, an investment institution under DWF Labs, shared some of the participants views from the perspectives of market sentiment, crypto liquidity, VC consensus, TON ecosystem and Taiwans crypto community. Odaily Planet Daily compiled them for readers reference.

Changing market sentiment

  • Narrative changes: Many important narratives in the past three quarters (such as re-staking, parallel EVM, AI, BTC L2, etc.) have gradually lost popularity, especially as the altcoin market has not yet fully recovered.

  • Back to basics: When the market becomes less active, the community tends to take a more conservative approach. People begin to shift their attention from hype and speculation to more fundamental work, such as improving protocol design, building products, and driving real-world adoption and development.

Cryptocurrency Liquidity

  • New Liquidity: The crypto market is hoping that the next big liquidity injection will propel the industry forward, especially after the approval of Bitcoin and Ethereum ETFs failed to bring the expected large infusion of new capital.

  • Altcoin Supply: While overall cryptocurrency liquidity has increased, it has not been able to keep up with the growing altcoin supply.

  • Next Liquidity Catalyst: In the coming months, the key influencing factors that the community will closely watch are the Fed rate cuts and the US election.

VC Consensus

  • VC layout: Most VCs have slowed down their capital investment, but DWF Ventures is still actively looking for high-quality investment opportunities with reasonable valuations.

  • Interest in TON: Many venture capital firms, including those based in the United States, have shown interest in exploring the potential of the TON ecosystem and the projects within it. However, most are still evaluating which verticals and projects are worth investing in.

TON Ecosystem

  • Binance listing: During the Open Summit, Binance listed the TON token, which is a positive for the TON ecosystem.

  • Developer Growth: The number of developers on TON has grown rapidly over the past two quarters, with the most significant growth in the number of Chinese developers. Chinese developers are innovative in user attraction, such as Catizen, which adds daily on-chain check-ins to its game mechanics and uses TikTok-style viral short videos as a marketing tool. At the same time, communities like TONX are also working to expand TONs developer network.

  • About Mini Programs: TON aims to maximize their influence through its Mini Programs and Telegram distribution channels. TON recently announced a strategic partnership with Cocos Engine and Tencent Cloud to leverage their game engines and resources. Meanwhile, Catizen launched Citizen Game Center on TON, providing players with over 200 mini games.

  • Verticals beyond Tap-to-Earn: While TON is known for its Tap-to-Earn games such as Notcoin and Hamster Kombat, other verticals within the ecosystem are also worth observing. These include WeChat-style mini-games, short video streaming, social platforms such as dating platforms, and more.

  • DeFi: DeFi on TON is gradually developing and still has a lot of room for improvement. Its TVL growth and USDT integration will help increase DeFi adoption.

Taiwan Crypto Community

  • Builder-driven: There are more crypto builders in Taiwan than VCs and crypto institutions. Most of them work for ecosystems such as Solana and Sui, aiming to expand the ecosystem’s community in Taiwan.

  • KOL community: KOL culture is particularly popular in Taiwan. Therefore, you can often see KOLs on 𝕏 and Youtube in the community.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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