TEAMZ 2024 Summit Review: Japan's crypto market is poised for vigorous growth.

The 2024 TEAMZ Web3/AI Summit will be held in Tokyo's Toranomon, focusing on the integration of Web3 and AI technologies. This summit gathers over 500 industry speakers and more than 200 blockchain/Web3 companies, with over 600 team members and staff forming a vibrant community to engage in in-depth discussions on the fusion of blockchain and AI. Key topics include decentralized AI infrastructure, AI-driven data interoperability, and the impact of AI on public goods within the Web3 framework. Moreover, attendees are keenly interested in how AI can drive the application of Web3 technology across various industries, making this summit an important platform for exploring the synergistic effects of future technologies.

Main Highlights

stablecoin market

The Japanese stablecoin market is expected to see significant expansion in 2024, thanks to the establishment of strategic partnerships and legislative advancements. A trading platform has reached a collaboration with Mitsubishi UFJ Trust Bank (MUTB), planning to launch stablecoins pegged to major currencies such as the yen by the end of 2024. This move is part of Japan's efforts to promote the widespread application of Web3 technology.

The latest regulatory framework implemented in Japan stipulates that only licensed entities can issue stablecoins to ensure the stability and reliability of the financial system. This regulatory environment has prompted companies like Orix Corp. to begin exploring the introduction of stablecoin tokens, which are expected to bring advantages such as faster fund transfers and more efficient settlements.

These developments highlight Japan's positive attitude towards regulating and promoting the use of stablecoins in the financial sector, setting an important benchmark for the global stablecoin market.

New regulations for investment funds

In 2024, Japan introduced new compliance regulations for investment firms and venture capital (VC). The Japanese Cabinet approved a bill that allows investment funds and venture capital firms to invest in encryption currencies, marking an important milestone in integrating digital assets into traditional investment portfolios. This decision paves the way for venture capital to engage more actively in the rapidly evolving crypto market and blockchain industry.

These regulatory changes are part of Japan's broader strategy to modernize its financial services industry by adopting cutting-edge technology. They reflect a growing recognition of the transformative potential of digital assets in reshaping investment practices. These advancements are expected to attract more institutional investors into the crypto market, potentially increasing financing opportunities for Japanese blockchain companies.

For venture capital, this transition requires adapting to new compliance frameworks while managing the risks of digital asset investments and seizing opportunities within supportive legal frameworks. This strategic adjustment is in line with global trends, as more and more countries are clarifying their positions on encryption and blockchain technology in the venture capital space.

NFT and intellectual property

In Japan, NFTs and related intellectual property (IP) are experiencing significant growth and integration in areas such as collectibles, sports, and blockchain gaming. Businesses and individuals are actively exploring the creation and trading of IP-based digital assets through NFTs, fully leveraging the unique advantages of blockchain technology.

Many Japanese companies have deeply researched NFT-related businesses, developing platforms and applications that expand the use of NFTs beyond art and entertainment. These applications now cover copyright management, content creation, and distribution, allowing creators and IP holders to directly offer unique digital products and services to consumers, while effectively protecting and monetizing their intellectual property.

With technological advancements and market developments, NFTs are expected to play a more significant role in the Japanese IP sector, providing creators with new sources of income and creative avenues, while offering consumers a richer digital experience. The current progress marks that NFTs are gradually integrating into the Japanese digital economy, striking a balance between technological innovation and intellectual property protection.

Highlights of the Summit Activities

WEB3 IN BLOOM

WEB3 IN BLOOM is a meticulously planned social gala that attracted over 300 guests. The event took place in a beautiful floral art setting, allowing guests to enjoy exquisite food and fine wine while appreciating the enchanting night view of Tokyo. This event provided a relaxed platform for industry professionals to communicate and enhance their connections.

main venue event

During the two-day main venue event, relevant individuals participated in two panel discussions, discussing the venture capital trends for 2025 and the predictions for crypto assets, and delivered opening speeches at the red carpet gala. During the conference, numerous visitors engaged in discussions at the booths and also met with representatives from partner companies, highlighting the vibrancy of the Japanese crypto market.

Looking to the Future

The 2024 TEAMZ Web3/AI Summit showcased the innovative achievements of numerous global companies, providing an important platform for discussing the integration of future technologies and making significant progress in promoting the widespread adoption of encryption and AI technologies.

Industry insiders remain committed to empowering the blockchain and web3 ecosystem and hold an optimistic view of the Japanese crypto market for the next 3-5 years. This year, more funds are expected to be invested, and more regional activities will be involved to support the development of Japan's crypto ecosystem. With the continuous improvement of the regulatory environment and ongoing technological innovations, Japan is expected to occupy a more important position in the global cryptocurrency and blockchain field.