Experience of the Hong Kong Web3 Carnival:

1. Solana ecosystem is dominated by European and American retail investors and institutions, and the main push is various Meme coins. The most seen in Hong Kong Web3 is $PENG. At present, this coin has risen 10X and will fall back, almost losing all the gains

2. Chinese VCs are now chasing the superiority of Bitcoin. In addition to attracting traditional investors to enter BTC, VCs are now beginning to panic FOMO into the BTC ecosystem and start to build various Bitcoin second-layer and programmable UTXO projects.

3. TON ecosystem is dominated by Europeans, with strong FOMO and community-driven colors. The most interesting one is notcoin. A large number of airdrops/click mining/gambling/game projects are emerging on Telegram⬆️

4. DePin and RWA are now the first choice for traditional IT companies to transform into the Web3 track. We have seen projects such as Wifi distributed Mesh network and decentralized charging piles. Currently, they are all focusing on the Southeast Asian market, with Singapore as the main base

5. A large number of newcomers have entered the market. A group of newcomers with high education and high initiative are working hard to develop their dreams in Web3. Local projects in Hong Kong and Singapore are also beginning to appear. However, the general low awareness of newcomers and the general lack of fighting spirit of Hong Kong and Singaporeans are also very obvious.

Entrepreneurs in Shenzhen and Hangzhou can meet and chat at 3 o'clock to make money, but the only motivation for young people in Hong Kong or Singapore to come out at this time is probably to hook up.

6. Hong Kong is still an international business center and a concentration of old money in Greater China. Although it has recently been suppressed by Europe and the United States, it still insists on working hard💪

7. Traditional crypto VCs are rapidly being squeezed by old money and the newly emerging DeFun and community capital. The new generation of VCs is growing through social media, which is very similar to Silicon Valley, and Web3 is developing even faster

8. Airdrops are rapidly becoming a means for project parties to open up the market and capture users. With the development of the bull market, there will be more and more airdrop project parties, and the game between project parties and airdrop studios will become more and more intense.