Original article from DWF Ventures

Compiled by | Odaily Planet Daily Golem (@web3_golem)

The 2024 Asian Blockchain Conference (ABS 2024) and the 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 Taiwan's 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 large injection of liquidity will drive the industry forward, especially after the approval of Bitcoin and Ethereum ETFs failed to bring the expected large injection 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 and reasonably valued investment opportunities.

  • 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: In the past two quarters, the number of developers on TON has grown rapidly, with the most significant growth in the number of developers in China. Chinese developers are innovative in terms of user appeal, such as Catizen incorporating daily on-chain check-ins into game mechanics and using TikTok-style viral short videos as marketing tools. At the same time, communities like TONX are also working hard to expand TON’s 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 worth watching. 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 in the community and on Youtube.