Reuniting in Singapore: A Quick Overview of Key Insights from TOKEN2049

This year’s TOKEN2049 was bustling with activity, and Singapore once again became the holy land of Web3.

A year ago, the East-West rivalry between Singapore and Hong Kong was still in full swing, but a year later, the competition between the two has gradually quieted down. With the licensing regime coming to an end, the favorable policies of Hong Kong seem unable to shake Singapore’s position as a western bridgehead. It is precisely because of the reduction of controversial topics that Singapore has been relatively low-key over the past year. The development of Web3 in the region remains somewhat elusive, circulated through word of mouth.

In terms of data, Singapore’s influence remains outstanding. TOKEN2049, held locally, has undoubtedly become one of the most prestigious and largest conferences in the industry. Compared to previous years, the scale of the event expanded with an increase in venue size and attendees. More than 20,000 participants from over 150 countries and 7,000 companies attended, setting a new attendance record, bringing this grand event to a perfect conclusion.

Vitalik Buterin, Co-founder of Ethereum

People often say that crypto is still in its early stages, and we are still building infrastructure. Indeed, we often discuss how long it took for something like the internet to materialize since Bitcoin’s launch. The real challenge we face today is that the crypto field is no longer in its early stages.

Ethereum as a project has been around for over 10 years, and in the 15 years since Bitcoin’s birth, we’ve seen things like ChatGPT emerge from non-existence to suddenly rise and change public perception of artificial intelligence.

I believe we are no longer in the early stages of crypto, but we are in a special phase. Ethereum’s main goal for the next decade is to achieve mainstream adoption while maintaining open-source and decentralized values.

Full speech: https://www.tuoluo.cn/article/detail-10116119.html

Qiao Wang, Investor at Pump.fun

In the crypto space, I don’t think gamification is necessary for creating and succeeding with a consumer application. Fundamentally, user engagement is what’s important. High retention rates come from solving a true core need for the consumer. Gamification can be fun and effectively improves retention, but it’s not a sustainable solution. If your product has flaws, people won't use it. Even if they do due to certain incentives, they’ll leave right after. I don’t think any amount of gamification can change that.

However, in highly saturated markets, especially in sectors where products are heavily homogeneous, gamification is most evident. In such cases, companies need artificial means to maintain customer loyalty and retention due to the low switching costs between products.

This article is from Foresightnews:

https://foresightnews.pro/article/detail/68592

Best regards,

AIC Team

2024/9/30