Foresight 2023: Bitget Wallet Announces 10M User Milestone, Emphasizes Importance of UX
Jointly organized by Web3 News Media Outlet Foresight News and Foresight Ventures, a crypto investment firm, Foresight 2023 took place on 10 April 2023 at Grand Hyatt, Hong Kong, and saw the gathering of various prominent figures in the Web3 community as they shared more about their projects and their views on the future of Web3.
With around 3,000 registered event participants and 12 million online attendees, Foresight 2023 featured exciting booths from Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)), Shardeum, Bitget, and boasted an impressive lineup of 9 on-site panel discussions.
Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)), one of the world's top leading non-custodial wallet solutions and key sponsor of Foresight 2023, hosted a panel discussion titled "Discovering the Next Frontier in Permissionless Blockchains". Moderated by Darren Woo, Director of Content at Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)), the headline discussion featured a star-studded panel that included Alex Pack, VC Parner of Hack, Yves La Rose, CEO of EOS Network Foundation, Diego Vidaurre, CEO of The Beacon, Tomi Fyrqvist, CFO & Co-Founder of Phaver, Greg Hammer, Director of Shardeum Ecosystem and Fundraising, and Juanna, Development Manager of Gitcoin Ecosystem.
"One of the trends that we're seeing is that gaming is becoming the entry point of a lot of new users," Yves says.
"Having a seamless onboarding process, and making their first experience as seamless as possible is important. Within the GameFi space, the gamer doesn't care about what layer 1 is in the background. What he cares about is a good end-to-end process and for it to be made simple and straightforward, and we're seeing more layer 1s prioritize that."
Echoing his sentiments, Diego also had this to share on his endeavours in building up The Beacon, one of the top game projects on Arbitrum: "Creativity, having a good team, and possessing a strong sense of what players actually need, is what is required to build a good game," he says.
"We're noticing a great shift in the realm of blockchain games where game developers are starting to put games first and blockchain technology second . Which is therefore why we are noticing a great deal of game-first projects, which is always a great opportunity for end-users, but it also sets a remarkable precedent for other developers within the space as well."
"For now, the gaming aspect of GameFi projects still needs work," Yves agrees. "But it was crucial for the pioneers to come in and set the foundations and building blocks for Web2 developers to come in to Web3 en masse. We are already starting to see new developers coming in with the templates to better understand how to leverage blockchain technology, but that's because they've seen how past projects have done it."
Indeed, inward funding for GameFi increased by 83% in 2022 as compared to 2023, jumping from $2.9B to a staggering $5.4B.
Opportunities for Growth
Generating popularity in blockchain usage, however, is certainly also contingent on building up reliable and good use cases, as Alex tells us.
"Stablecoins, for instance, are important because they bring massive use cases to a lot of different users around the world, and we want to capitalize on that," he says firmly. "We want to bring more assets online and provide users with the ability to actually utilize their funds on Web3 and on blockchain and materialize them in the real world."
At the event, Darren also shared that Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) has recently achieved its 10 million global user milestone, and is currently also pushing for more blockchains to be added on to its suite of over 90 supported mainnets, and in doing so, also prime its attention towards building up a good UX for all users. Envisioning itself to be the ultimate gateway for all Web3 users, Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) aims to provide everything that a user may potentially need to easily access the Web3 space in all its entirety, including an integrated swap feature, OTC function, DApp browser, launchpad, and NFT marketplace.
The push towards greater usage of blockchain also perhaps cements itself upon the failures of centralized institutions that were observed in recent times, Greg posits.
"The greatest opportunity right now is generating more demand on Web3 and via applying better real world use cases. The key thing here is to try and make decentralization as accessible as possible, because the countries that need it the most are also the same countries that arguably struggle with affording decentralization. With that, the greatest opportunity for business developers right now, is to solve this natural problem - and not just what is cool or trending at present."
Tomi, who believes that social and gaming are the two sectors that hold promise currently, stating that "I am bullish on both these fronts, because that's where the most amount of time we spend online is at. All the building blocks are being laid out, and having a verifiable value being attached to the achievements and assets held by gamers is great."
On opportunities, the panel also discussed how Hong Kong itself could be a viable and promising avenue towards growing the greater Web3 ecosystem.
"It is great that Hong Kong is being so receptive to crypto regulations, and this really bodes well for local communities and organizations," Juanna explains to the panel. "We hosted a Greater China ecosystem fundraising round roughly 6 months ago, and we plan to continue hosting future rounds just like this. Additionally, we also want to implement diversity inclusion bonuses, because we want our communities to self-identify ther demographics and help them amplify that, so we are looking at perhaps implementing a Hong Kong or Greater China bonus in the future as well."
"Hong Kong has been a melting pot for crypto usage and for crypto organizations for the longest time, and I think Hong Kong is probably one of the most important cities for crypto right now," Yves says in agreement.
Analyzing historical trends, Diego also argues that his team has noticed a great influx of users pouring into his project from the Asian market, stating that "even though our marketing was mostly done in towards Western audiences, by sheer word of mouth, we've seen how an impressive 40% of our current market now lies within Hong Kong itself, as we realized that we need to focus our attention here."
"We've had great opportunities with Foresight and Bitget Wallet (Previously Bitget Wallet (Previously BitKeep))," Tomi adds. "I myself perform most of my swaps on Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)), and we have also noticed that Hong Kong is an excellent place for crypto and for growing the greater Web3 ecosystem as a whole."
Closing up the panel, Greg shares with us that Shardeum has been offered different opportunities to work with various investment firms in Hong Kong, and that Shardeum is also looking to set up a team within the region.
"One of the greatest analogies that I have is to always fish where the fish are swimming," he tells us. "And Hong Kong presents itself as just that place to do so."
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