What are the trends and opportunities in the Web3 market in various Asian countries?

Author: Tiger Research

Summary of Key Points

• The Web3 market in Asia is growing rapidly, mainly due to active regulation and corporate participation. Markets such as South Korea, Japan, and Vietnam are leading this trend.
• The new regulatory frameworks in South Korea, Indonesia, and Thailand have promoted blockchain innovation, encouraging innovation in RWA, DeFi, and digital asset services.
• Emerging markets such as Cambodia bring both opportunities and risks.

1. The Asian Web3 market

Source: Chainalysis

The characteristics of Asia include: 1) young Web3 audience, 2) strong technology adoption, 3) mature regulatory framework, and 4) active participation of enterprises. These factors make Asia a leading force in the global Web3 field. Among the many countries in the region, we emphasize the following key markets:

South Korea: Enterprise level companies are entering the Web3 field, with blockchain game development playing an important role. Large gaming companies are actively preparing for the release of blockchain games, marking a shift in the industry.