On September 16th, the "FAT Awards 2024" annual ceremony was grandly opened at the Conrad Hotel in Singapore.

"FAT" is a list and summit brand founded by Odaily Planet Daily in 2020, aiming to commend the leaders and innovators of the Web3 and cryptocurrency industry, and focus on the value paradigm and consensus moment. In 2024, as the cryptocurrency industry is rapidly changing and the narrative becomes mainstream and recognized by the world, with fresh narratives emerging and a flourishing ecosystem, Odaily Planet Daily once again initiated the FAT list selection and held an offline ceremony.

At the event, Cooper, co-founder of Movement Labs, and Will, marketing director of Movement Labs, held a fireside chat on the theme "Empowering the Future of Web3: Movement Labs' Next-Generation Blockchain Infrastructure."

The following is a record of the conversation, compiled and summarized by Odaily Planet Daily, enjoy~

WILL: Can you give us a brief introduction to Movement Labs?

COOPER: In the next few years, many Layer1 and Layer2 solutions will enter the market. If you are Layer 1, it will be difficult to launch when the market is bad. Movement Labs is faster and more secure, similar to Rust, and we can run directly on Ethereum, making it more convenient to use the Move language. All applications built on our platform can access any address-compatible blockchain without making any sacrifices.

W: With the total transactions of Layer2 already exceeding 200 million, does Movement Labs still have opportunities?

COOPER: By entering the market through Ethereum, we don't need to reinvent the wheel. ETH is the fastest way to deliver goods and services, and the other end of Web3 is decentralized. The future of tokens is not about how much we can hoard, but about the opportunity to reward developers, KOLs, and community members. The contribution of community members is crucial to the success of the chain or application. We need to identify how to recognize the contributions of people other than developers to the network and design programs to measure this contribution. In the previous market, due to the ecological division, from builders to all stakeholders, no one received rewards from the network, and when the network or market became difficult, they had no reason to persist. Therefore, giving back to the community is the most important part.

W: What achievements did the global hackathon "Battle of Olympus" hosted by Movement Labs achieve?

COOPER: It is being held around the world and led by our ecosystem. We held many developer and community activities during the Korea Blockchain Week and Singapore Token2049, some of which were even jointly completed by multiple teams in our ecosystem, and this energy comes from the community spirit. At the same time, in such competitions, applications have many different ways to gain recognition from us and share our large community. Our thousands of users are now totaling 320,000 and 200,000 on Discord and Twitter, respectively. There are tens of thousands of active users and transactions on the chain, allowing everyone's data to be available on the network. Now we are creating an experience that users love to enjoy interacting on the chain. We hope this is a similar experience in the community, where specific tasks completed on the network provide special roles, which also provide very good data points, and those who receive rewards are active users. This collaboration allows applications to build on each other, benefit from community funds and seed funding, and benefit from their communities. It is a very symbiotic relationship.

W: Besides pursuing dreams, finding funding is also important for teams entering this industry. But VC is undergoing changes. How do you view the current venture capital environment?

COOPER: Although there is no bull market, there is a good market, just like the market in December last year. There is no reason for the current market to follow the previous rules. It is expected that the market sentiment will slow down by 2025, and a future bull market may not be necessary. Investments are starting to slow down, so many teams need to be prepared to raise funds at lower valuations than expected, which is the current situation.

W: What is the biggest challenge for you personally?

COOPER: Introducing a new programming language into Web3. My co-founder Rushi and I dropped out of school to build the product, and we constantly talk to investors and build the community. This experience is not something most people have. Therefore, we want to create a system that recognizes people's contributions, regardless of where they come from. This is the most interesting thing, because we must truly stand out, whether in terms of applications or teams, this is a standard. Only in this way can we compete with other blockchains.

W: How should users participate in building?

COOPER: If you want to contribute to the new ecosystem, there is definitely a place for you here. If you like memes, there are opportunities for you in Movement Labs and applications. If you are a service provider, there is also a place for you here. If you want to make a career, there are many opportunities here. You can use this brand-new platform to create anything you want, and the community will empower you.

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