The highly anticipated TOKEN2049 Dubai has wrapped up, leaving the crypto community with the eagerness to keep building. From changing market narratives to launch announcements, the crypto conference provided a glimpse into the future of blockchain and Web3. Dive into details about what was discussed at TOKEN2049, in the recap prepared by DWF Ventures, the team of which participated in the event.
Location Significance
In recent years, Dubai has emerged as a global hub for blockchain innovation, thanks to its crypto-friendly regulations and strategic support from entities like VARA (Virtual Assets Regulatory Authority). With tax-free zones and government-backed initiatives, the region has cultivated a thriving crypto ecosystem, attracting talent and business.
We’re proud to support developments in the region. This includes the renewal of collaboration between DWF Labs and DMCC Crypto Centre, a subsidiary of the Dubai Multi Commodities Centre, which was forged just 2 weeks prior to TOKEN2049. Together, we’ve established a $5 million growth platform for Web3 businesses at the DMCC Crypto Centre, reaffirming our commitment to supporting crypto builders in Dubai.
Market Sentiments: Resilience Amid Uncertainty
Despite recent market pullbacks, the sentiment at TOKEN2049 Dubai remained optimistic. Conversations mirrored the themes observed at the Hong Kong Web3 Festival, focusing on:
- Bitcoin (BTC).
- AI and DePIN.
- Memecoins.
- Layer 1 blockchains (Berachain, Monad, TON).
- Real-World Assets (RWA).
Despite having faced challenges, the growing influence of these narratives are indicators of the crypto community’s resilience and forward-looking outlook.
Conference Turnout
The main event attracted a diverse crowd, including builders, crypto venture capital firms, key opinion leaders, and global institutions.
Major blockchain ecosystems such as NEAR Protocol, Solana, and TON also had a strong presence alongside numerous AI and DePIN projects showcased at booths.
The Rise of Memecoins
Our Managing Partner, Andrei Grachev, delivered a keynote speech on how projects and chains can navigate market narratives. He emphasised the surprising rise of memecoins, which have proven to be more than just speculative assets.
He underscored that memecoins are becoming an important strategy for blockchain networks and projects launching in the year ahead, as they offer an effective way to build communities and drive engagement.
TON’s Major Announcements
One of the most notable moments at the TOKEN2049 crypto conference were announcements made by the team of the TON blockchain, which included the integration with Tether (USDT) as the native stablecoin. They also announced that incentives for the TON ecosystem will be provided to drive further adoption. Lastly, there will also be the monetisation of Telegram stickers and a creator tipping feature using TON.
These developments showcase the collaboration between TON and Telegram, highlighting their ability to leverage a huge user base and create new monetisation avenues.
Side Events and DWF Labs Haus
The side events at TOKEN2049 Dubai were a vibrant showcase of the industry’s energy, creativity and meaningful discussions. Attendees were treated to engaging experiences such as Crypto Fight Week, K-pop performances by Triples, and the unforgettable Hasbulla NFT showcase, ensuring there was something for everyone to enjoy.
DWF Labs, which sponsored the conference, also hosted its own crypto side event DWF Labs Haus, connecting the global community that had a delight to enjoy a stunning view of the Dubai’s skyline while networking.
Amidst the entertainment, Berachain stole the show with a spectacular drone display, announcing its partnership with Google Cloud. This presentation showcased Berachain’s growing influence and was complemented by strong community activation. Events such as sports competitions and the popular Berabaddie gathering also brought like-minded individuals together, bringing meaningful connections in celebration of this dynamic ecosystem. See more here.
Discussion Around RWA
The focus on Real-World Assets (RWA) further showed the event’s forward-looking narrative. RWA-centric discussions and showcases emphasised infrastructure and asset protocols, with on-chain T-Bills gaining significant interest. These digital financial instruments were particularly appealing to both institutional and retail investors, offering a regulated and secure way to earn yield.
Bitcoin Halving in the Spotlight
Finally, the Bitcoin halving on April 19th was a recurring topic of conversations throughout the week of TOKEN2049. This milestone not only marked an important moment in Bitcoin’s monetary policy but also coincided with the launch of the Runes Protocol, “NFT-like” innovations within the Bitcoin ecosystem. The introduction of Runes has spurred increased trading volumes and further demonstrated Bitcoin’s evolving utility beyond its traditional role as a store of value.
Conclusion
The TOKEN2049 crypto conference in Dubai was not just all work and no play, it was also a moment of celebration for our achievements. DWF Labs was honored as the Best Liquidity Provider at the Blockchain Life Awards 2024.
We expect that the narratives around the Bitcoin ecosystem, memecoins, and Layer 1 blockchains will continue to drive the market in the coming months.
There’s no better time to build together. If you want to get support from a crypto venture capital fund, feel free to connect with DWF Ventures.
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