Full Japan Web3 Report
First-hand insights into Japanese Web3 Market macro trends, Startup fundraising, Enterprise strategy, and Сonsumer adoption
Series Introduction
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Key Insights
Regulations
Japan recognizes its overregulation on Web3 and the current legislation is trending more favorable. Prime Minister Kishida administration is incentivizing for Web3 innovations by reforming taxes, forming industry-led body council, enforcing stablecoin regulations and proactively publishing Web3 whitepapers to show its commitment.
Venture Investments
The majority of investments come from corporate venture capital groups (CVCs) or are enterprise-led. With recent regulation reforms, VCs will be able to invest into token rounds.
Project Fundraising
Both startups and enterprise Web3 subsidiaries are fundraising. Enterprises often raise token-only rounds though current regulation limits publicly traded companies from holding tokens on their balance sheets. Therefore investors are posing questions on the enterprise’s token value accrual.
Key Industry Players
Startups and enterprises that have raised a token round are increasingly prioritizing a global audience. This strategy is aimed at securing listings on international centralized exchanges (CEXs) to expedite local exchange listings.
Enterprises have high-interest in entering Web3 with varying strategies such as investing externally, incubating new products and building infrastructure to leverage their existing user base.
Local startups have an advantage to onboard domestic enterprises due to the alignment in business dynamics and established trust.
Consumer Adoption
Japan has low crypto adoption rates due to consumers' preference for cash, high taxation, and a lack of trust in foreign companies that do not thoroughly localize. As a result, many local companies have recalibrated their go-to-market strategies to focus on countries with higher consumer adoption of digital assets.
Special mention: Collaborating Partners
Many thanks to our collaborators for providing the intelligence for the Japan report. Each of you have been instrumental in guiding us and by extension our audience through evaluating the Japan Web3 ecosystem.
Shota Iwasaki, Japan
CEO, Pacific Meta
Tomohiro Miyasaka, Japan
CFO & Co-founder, Arriba Studios
Andy Anh
Investment Manager, Planetarium
Dominic Jang, UAE
CBDO, Vice President of Maplestory Universe, ex Head of BD at Oasys
Rumi Kono, Japan
Head of Alliance, DMM.com
Kaz Okamoto, US
Founding Partner, Nonagon Capital
Hirokazu Kimizuka, Japan
COO, BOBG PTE. LTD
You can access the full report in PDF format via this link.
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