Token2049 Chats: Nasdaq and CME also set up shop! Market maker DWF Labs criticized by peers

The annual global blockchain event "Token2049" concluded successfully this weekend amidst the roar of F1 race cars. This year, the exhibition doubled in size compared to previous years, with the 4th and 5th floors of The Venetian being used as exhibition areas. Despite the bear market, many different types of vibrant new projects could be seen. This article will take you through some highlights of the conference from a perspective! What are the differences compared to the past?

Who Occupies the Largest Space at Token2049 This Year?

If last year's Token2049 focused on exchanges, NFTs, and GameFi, this year's event is more diverse, with the presence of RWA, technology service companies, market makers, and chain games other than GameFi, as well as traditional financial institutions.

Following the upheaval at FTX, the landscape of centralized platform ecosystems has also changed. It is well known that many exchanges may have large financial backers behind them or are profitable businesses themselves. Therefore, the main sponsors of blockchain events are often taken up by these entities, buying the largest advertising spaces.

This year, at the intersection of Token2049, OKX occupies the largest space, with escalators plastered with OKX banners. Last year, this advertising space was purchased by Amber Group, who has taken a more low-key approach this year. In addition, the prominent market maker DWF Labs is showcased above the intersection, a sight that is both ironic and a testament to their continuous funding.

Traditional Financial Giants Also Attend Token2049

One of the surprising aspects of this event is the presence of many traditional financial institutions setting up booths. Nasdaq, for example, came to promote its trade surveillance tool, which allows exchanges to monitor user trading behavior to prevent market manipulation, while Nasdaq itself does not have visibility into trading activities.

Nasdaq staff revealed that currently Huobi and Hashkey are using this tool, and exchanges in Taiwan are also discussing potential collaborations.

CME Group, the Chicago Mercantile Exchange, also made an appearance at the event. Their staff mentioned the need to diversify from existing derivative-related businesses, as these have limitations, and took this opportunity to promote their crypto futures products.

Additionally, they expressed their anticipation for more approved crypto ETFs, as it would also drive their business growth.

Breaking Free from Domestic Constraints! Japanese Corporations Venture into Web3

In addition to traditional financial institutions, there was a noticeable increase in the presence of Japanese companies at the event, and they all have significant backgrounds. For example, Sony partnered with the well-known Japanese public chain Astar to set up a booth at a prominent location near the entrance.

A Sony employee mentioned that their current Sony Chain project with Astar is still in its early stages, and it is uncertain whether it will be an L2 solution, and the benefits it can bring to Astar are not yet clear.

Furthermore, Sony has recently established a Web3 technology service company in Singapore, demonstrating their commitment to entering the blockchain industry.

Another notable participant is the Japanese TV station TV Asahi, which promoted two Web3 projects at the event: "Star DAO," which solves travel and local issues through stargazing, and FUZIC, a music platform that helps independent musicians create and monetize their music. These projects are expected to be launched gradually by the end of the year.

A TV Asahi staff member mentioned that they are currently planning to "slowly" experiment in Web3.

Next, we see the Japanese new public chain, Japan Open Chain, which is Ethereum-compatible and includes verification nodes from many well-known Japanese companies such as Sony, Dentsu, and NTT, Japan's largest telecommunications company.

Japan Open Chain revealed that they are currently collaborating with Shikoku Bank, one of the four major banks in Japan, and plan to launch the "first" stablecoin in Japan.

Token2049 Highlights: These Chain Games Are Actually Quite Good!

One unexpected aspect of this event is that chain games have become much more engaging and fun, with richer gameplay.

Qorpo is a game studio from Slovakia that showcased a first-person shooter game similar to Call of Duty and CS:GO called "Citizen Conflict" at the event.

Another studio from South Korea, Flask, primarily demonstrated a mini-game similar to Vampire Survivors called "Golden Guardians."

Through interviews, it was found that these studios currently do not have token issuance plans and are even contemplating whether they need to issue tokens. Instead, they are focusing on designing NFT mechanisms within the games and improving the gameplay.

Additionally, during the Side events, several chain games with good gameplay were observed, including "Bladerite" from The Seeds, a martial arts battle royale game, and "Seraph," which bears a striking resemblance to Diablo.

If you still have hope for chain games, you can try these games yourself, as they are sure not to disappoint!

Furthermore, at the event, a team from Dubai introduced a Watch-to-Earn project called "cheelee," which has a user interface similar to TikTok, where users can earn tokens by watching videos.

However, it was noticed that this was the only "X to Earn" product at the event, indicating a decline in popularity for products designed around concepts like "play-to-earn" or "earn-while-you-play."

What Do Market Makers Think of DWF Labs? And Which Market Maker Should Be Cautious About?

Finally, let's take a look at what stories have been uncovered by market makers. Due to sensitive content, the specific market makers cannot be disclosed.

One market maker at the conference revealed that apart from harming retail investors, DWF Labs' "shearing of leeks" even affected their own employees due to misinformation from the company.

Another market maker shared more insights, having been a former partner of DWF Labs, their employees expressed a very negative experience with DWF Labs and categorized them as one of the worst market makers.

As a benchmark, another well-known market maker in the crypto industry, "Wintermute," was classified as "neither good nor bad." Additionally, when asked if there were other market makers to be wary of, their employees singled out "Gotbit."

Reflecting on the DWF Labs controversy: Over a year of multi-million dollar investments, enigmatic institution DWF Labs' response continues to be questioned

Conclusion of Token2049! Even in a Bear Market, Diverse Offerings Abound

This event was much grander than in previous years, with a diverse range of exhibitors sharing interesting phenomena and industry news from their own perspectives, without a clear central theme.

Although the phrase "Build in a Bear Market" has been overused to the point of becoming a joke, the Token2049 conference truly witnessed many serious and ongoing development teams. It is hoped that when the next bull market arrives, readers will witness the fruits of their labor together.