At the beginning of the new year, ScalingX launched the 2023 annual summary report as scheduled, providing strong confirmation of our commitment to promoting the development and growth of blockchain applications. In 2023, we rose to the challenge with the industry, resulting in a wealth of collaborations and key developments in the Web3 space, marking significant progress in a volatile industry.
Our growth is more than just numbers or metrics; it’s real impact. As we look back at the past twelve months, we invite you to dig deeper into the highlights along the way.
In 2023, ScalingX has left a strong mark in 11 cities around the world, including Singapore, Hong Kong, Seoul, Istanbul, etc. We actively participate in 65 impressive events throughout the year, both online and offline, thus establishing a truly global influence. As a sponsor and speaker at local Web3 events, we frequently serve as the organizer or co-organizer, taking on the role of various side events, meetups, backstage parties, workshops, Twitter Spaces, etc. We are committed to lowering the entry barriers for the world's most outstanding developers and entrepreneurs, because we firmly believe that by bringing together the industry's top talents into one community, we can greatly accelerate the progress of today's blockchain technology.
One of the most notable events we hosted in 2023 was the "Beyond Scaling" Afterparty at SKAI restaurant at Swissotel The Stamford in Singapore, which was held during Token2049 and F1 Week. The event attracted more than 400 attendees and we were fortunate to welcome industry luminaries from Outlier Ventures, DWF Labs, Skybridge Capital, Hack VC and Worldcoin for an insightful panel discussion. It was more than just a fun party, it was a meaningful moment of networking, leading to the establishment of new strategic partnerships and fostering the spirit of collaboration to build a diverse and vibrant ecosystem.
In addition, ScalingX successfully held its first virtual hackathon event on the Buidlbox platform, "The Hunt For X", which set an important milestone for the company. The event lasted for three weeks from April 12 to May 10 and focused on exploring various aspects of zero-knowledge proof (ZKP) technology in the Web3 ecosystem. Participants actively contributed to the progress of blockchain privacy enhancement by demonstrating their skills.
The hackathon involved challenges in decentralized finance (DeFi) and identity management, with a prize pool of up to $40,500. Experts from industry leaders such as ConsenSys, Coinbase, and p0x Labs served as mentors and judges, and conducted a wonderful and in-depth evaluation of 77 projects submitted by 203 participants from around the world.
The successful hackathon featured 15 exceptional projects on Demo Day. Representatives from venture capital firms LongHash Ventures, OP Crypto, and Sharding Capital, as well as media agencies PANews and Coinlive, attended, making it a vibrant hub for Web3 collaboration and innovation.
In addition to physical events, ScalingX also actively hosts Twitter threads to promote community growth and expand the brand's global influence. In 2023, we hosted a total of 22 vibrant Twitter threads, inviting 40 industry experts from our network, such as Marouen Zelleg of Polygon, Brian Fu of zkLend, Ryan Ang of Greythorn Asset Management, and others to share their insights. These spaces have become central hubs for interaction, attracting more than 25,000 participants. At the same time, we also participated in 8 threads hosted by well-known projects, such as Blockchain Academy and PANews. These discussions benefit from the rich experience of industry luminaries, delve into cutting-edge topics, and create a vibrant environment for the Web3 community. ScalingX has always adhered to our commitment to shaping the Web3 narrative, providing a knowledge sharing platform, inspiring insights, and driving the community to new technological frontiers.
In September 2023, ScalingX announced the launch of a new program, the ‘Transcend Beyond’ Global Accelerator Alliance, at the ‘Beyond Scaling’ Afterparty event. This program aims to build a solid network that connects potential Web3 startups, regional incubators, and our vast global accelerator network. We firmly believe that while startups’ networks and community development often thrive in their geographic origins, to go beyond local boundaries, exposure to unfamiliar environments is required. This exposure includes participating in well-known global events, obtaining public relations opportunities, receiving support from accelerators outside the region, and gaining rich insights from various experts and mentors.
So far, the alliance program has 16 accelerator network partners, covering venture capital, accelerators and media organizations. Some of the well-known partners include Outlier Venture, ConsenSys, Sharding Capital, Blockchain Academy, LongHash Ventures, etc.
Throughout the year, we have invested in 10 highly anticipated Web3 projects with a smart strategy, focusing on the development of zero-knowledge technology. Here are our top 10 projects, presented in no particular order, each of which demonstrates excellent quality:
Portal Gate: A decentralized, non-custodial privacy solution powered by zk-compliance oracles that aims to protect user privacy and anonymize capital flows.
zkSig: An electronic signature and document management platform designed to connect on-chain activity with off-chain execution.
Radius: A trustless shared ordering layer designed to power the next generation of interoperable, modular blockchains.
Truffles: An international payment platform that provides a range of tools to connect commercial companies to enable fast international payments and innovative NFT invoicing.
Verifier: A cybersecurity layer to protect the health data of migrants worldwide.
Gameta: A diverse NFT gaming ecosystem at the forefront of leading the transition of billions of users to Web3, building and establishing a metaverse where users can truly feel at home and have ownership.
BeWater: An open innovation platform for creators, helping to build a better future together.
Syndr: Trade options, perpetual swaps, and futures on the world’s first cross-margin decentralized derivatives exchange powered by application-specific L3 Rollup technology.
DataHive: An AI platform that provides infrastructure for a fair and efficient personal information economy.
vSelf: A Web3 identity platform for growth driving and community engagement.
In addition to financial investment, ScalingX is actively engaged in discussions with Hong Kong’s legislature, advocating for the need for clear regulations and cooperation frameworks in the evolving Web3 space. At the same time, we have solidified our pioneering position as the operator of the Worldcoin Orb in Singapore, playing a vital role in nurturing the growth of the Worldcoin (WLD) ecosystem.
ScalingX successfully achieved various year-end targets and achieved additional milestones, highlighted by the success of Transcend Beyond and significant investments in promising startups.
With a firm belief in the vast potential of zero-knowledge (ZK) technology, ScalingX sees it as an engine to drive the reform of Web3 infrastructure. Looking ahead, the focus is gradually expanding to include emerging narratives such as the BRC20 ecosystem, Layer 2 solutions, and decentralized finance (DeFi). In this Web3 era full of opportunities and challenges, ScalingX insists on contributing to the continued evolution of the blockchain field.
— Chichi Hong, Co-founder of ScalingX
For more details on ScalingX’s 2023 annual report, please visit the official website.
As we reflect on 2023, we are grateful to our dedicated team, our valued partners, and the ScalingX community for their continued support. Throughout the past year, your unwavering support and spirit of collaboration have been the backbone of our progress. As we begin 2024, our momentum is at an all-time high, driving us to achieve new milestones and solidifying our commitment in this dynamic space.
We will unveil a new strategy designed to accelerate our growth and consolidate our presence in key regions including Hong Kong, Singapore, San Francisco, while exploring potential expansion into Dubai and European territories such as Spain.
We look forward to even greater achievements in this new year, and we are ready to break new ground and expand our horizons. Thank you to everyone who has been with us over the past year and thank you for being a part of this unforgettable journey. Let us enter 2024 with new energy and a shared vision to create another year of excellence and success together. I wish you all a happy new year, and let us soar to new heights and achieve extraordinary achievements together!
About ScalingX
ScalingX is a global accelerator based in Singapore, Hong Kong, and San Francisco, dedicated to the development of Web3 and blockchain technology, with a focus on zero-knowledge proof (ZKP) technology. Our goal is to advance the adoption of blockchain technology around the world through investment. We support early-stage Web3 startups through talent recruitment, network building, fundraising, project incubation, public relations and brand building, community building, etc. We are fully committed to building a more scalable, transparent, secure, and decentralized future network.
