DFG’s TEAMZ Web3/AI Summit 2024 Recap & Insights: Japan’s crypto market is set to blossom
Author: James Wo, Founder & CEO, Digital Finance Group
DFG is thrilled to have co-hosted TEAMZ Web3/AI Summit 2024 together with our affiliated entity Jsquare, portfolio company Astar Network, and other partners. This marks our second time at the TEAMZ Summit. Our belief in the Japanese crypto market for the next 3–5 years has always been strong, and our participation in this year’s TEAMZ summit validated our confidence.
The TEAMZ Web3/AI Summit 2024 took place in Toranomon, Tokyo, with a spotlight on the merging of Web3 and AI technologies. The summit hosted over 500 industry speakers, welcomed more than 200 blockchain/Web3 companies, and featured a vibrant community of over 600 team members and staff to delve into discussions surrounding the fusion of blockchain and AI. Key topics encompassed decentralized AI infrastructure, AI-powered data interoperability, and the impact of AI on bolstering public goods within the Web3 framework. Furthermore, considerable attention was directed towards exploring how AI could propel the uptake of Web3 technologies across diverse industries, establishing this summit as a pivotal platform for investigating forthcoming technological synergies.
Key Highlights
Stablecoin
In 2024, Japan’s stablecoin market is poised for significant expansion, driven by strategic partnerships and legislative advancements. Binance, in collaboration with Mitsubishi UFJ Trust and Banking Corporation (MUTB), aims to introduce stablecoins tied to major currencies, including the Japanese yen, by the end of 2024. This initiative is part of a broader push to encourage the widespread adoption of Web3 technologies in Japan.
Japan’s recently implemented regulatory framework permits only licensed entities to issue stablecoins, to ensure stability and dependability in the financial system. This regulatory landscape has spurred companies like Orix Corp. to explore the introduction of stablecoin tokens, expected to offer advantages such as faster money transfers and more efficient settlements.
These developments highlight Japan’s proactive stance in regulating and promoting the utilization of stablecoins within its financial sector, establishing a notable precedent in the global stablecoin market.
Investment Funds Regulation
In 2024, Japan introduced new regulations for investment firms and venture capital (VC) related to compliance. The country’s cabinet approved a bill allowing investment funds and VC firms to invest in cryptocurrencies, which represents a significant milestone in the inclusion of digital assets in traditional investment portfolios. This decision by the Japanese government paves the way for venture capital firms to participate more actively in the growing crypto and blockchain industries.
These regulatory changes are part of Japan’s larger strategy to modernize its financial services sector by adopting cutting-edge technologies. They also indicate a growing acknowledgment of the transformative potential of digital assets in reshaping investment practices. These advancements are anticipated to draw more institutional investors into the cryptocurrency realm, potentially boosting funding for blockchain ventures in Japan.
For venture capital firms, this shift necessitates navigating through new compliance frameworks that involve managing risks linked to digital asset investments while seizing opportunities within a supportive legal framework. This strategic adaptation aligns with global trends where an increasing number of countries are formalizing their stance on cryptocurrencies and blockchain technology in the venture capital domain.
NFTs & IP
In Japan, NFTs and related intellectual property (IP) are experiencing significant growth and integration across sectors like collectibles, sports, and blockchain gaming. Companies and individuals are actively exploring the creation and trading of digital assets based on IP through NFTs, leveraging the unique capabilities of blockchain technology.
Numerous Japanese companies have delved into NFT-related ventures, developing platforms and applications that expand the use of NFTs beyond art and entertainment. These applications now encompass copyright management, content creation, and distribution, empowering creators and IP holders to provide distinctive digital goods and services directly to consumers while safeguarding and monetizing their IP rights effectively.
With advancing technology and evolving markets, NFTs are poised to play a more substantial role in Japan’s IP landscape, promising fresh revenue streams and creative avenues for creators and enhanced digital experiences for consumers. The ongoing progress signals a positive trend toward deeper integration of NFTs in the Japanese digital economy, striking a balance between technological innovation and IP protection.
DFG at TEAMZ
WEB3 IN BLOOM
The WEB3 IN BLOOM event was the official side event co-hosted by DFG, Jsquare, and Astar Network. Our team dedicated months of effort to it and we were thrilled to organize an evening of networking for our 300 guests amid beautiful flower arrangements, allowing them to enjoy exquisite food, fine wine, and soak in Tokyo’s mesmerizing night view. A big thank you to our co-hosts, partners, and everyone who joined to make it an unforgettable event!
TEAMZ Main Event
We were excited to co-host the TEAMZ WEB3/AI SUMMIT 2024 with Jsquare, Astar Network, and other partners. Throughout the two-day event, I participated in two panels, discussing VC investment trends and crypto asset forecasts for 2025, and also gave the opening remarks at the red carpet gala.
Not only did we engage with numerous individuals at our DFG booth and distribute our swag, but we also connected with our esteemed portfolio companies at the DFG & Jsquare family booth! It was a fantastic opportunity to unite our portfolio family and highlight their presence in Japan.
See you next time, TEAMZ & Japan!
Overall, the TEAMZ Web3/AI Summit 2024 showcased a broad range of global companies and provided a platform for critical discussions about future technology integration, making significant strides toward mass adoption of crypto and AI technologies.
Our dedication to empowering the blockchain & web3 ecosystem remains strong, and we are optimistic about the Japanese crypto market in the next 3–5 years. This year, we’ll deploy more capital and engage in more regional events to support Japan’s crypto ecosystem.
About DFG
Digital Finance Group (DFG) is a global blockchain and cryptocurrency investment firm founded in 2015 with assets under management of over $1 billion through a wide range of sectors within the blockchain ecosystem such as Web 3.0, CeFi, DeFi, NFTs, and the Polkadot ecosystem.
Investments include Circle, Ledger, Coinlist, FV Bank, Astar, ChainSafe, and over 150 more. DFG intends to create value, through analytical research, based on the most impactful and promising global blockchain and Web 3.0 projects that will bring a paradigm shift to the world.
DFG Website: https://dfg.group
DFG Twitter: @DFG__Official
DFG LinkedIn: DFG
