In 2024, Devcon discussed startup financing, the cultural impact of MemeCoin, the value of AI data, and the application of AI robots in negotiations, revealing a key turning point for Web3 from speculation to practicality and infrastructure development.
Author: MV Global
Translation: Blockchain in Plain Language
The 2024 Devcon held in Bangkok presented a vibrant tapestry of discussions, hosting over 900 events over three weeks. Amid the chaos, several key themes emerged: how startups can effectively pitch to venture capitalists, the cultural and financial implications of the MemeCoin narrative, the long-standing debate in the AI field regarding the value of data versus computation, and the rise of AI key opinion leader (KOL) robots as transformative tools in trading. This article synthesizes these insights and reflects on the trajectory of the Web3 industry.
In the bustling center of Bangkok, Devcon 2024 attracted a diverse group of investors, developers, and innovators. Through panel discussions, side events, and informal conversations, the event showcased the vibrancy of the Web3 industry while revealing areas where the ecosystem is still striving to mature.
This in-depth exploration summarizes four key themes our team discovered at Devcon:
The right way to pitch to venture capitalists
MemeCoin narrative: Culture first, product second
The evolving role of AI in blockchain: Data > Models
AI robots in negotiations: The future of deal-making
1. The right way to pitch to venture capitalists
One recurring pain point in the Devcon discussions was the gap between what startups offer and what venture capitalists seek. Gareth Christian-Lim, Strategic Planning Director at MV Global, pointed out that many projects lack clarity in articulating their value propositions.
Venture capitalists' expectations:
Clear value proposition: A concise and compelling reason explaining why their solution is important.
Proven motivation: Evidence of a growing user base or solid partnerships.
Scalable potential: A clear roadmap for growth that can generate returns.
Preparedness for challenges: Founders must anticipate tricky questions regarding regulations, technical feasibility, and scalability.
Key takeaway: Startups must adopt a structured approach—telling a vision story that aligns with market opportunities and providing concrete evidence of execution capability.
2. MemeCoin narrative: Culture first, product second
One of the standout themes this year was the shift in perception regarding MemeCoins. Traditionally viewed as speculative bubbles, MemeCoins are now recognized for their ability to build culture and community—a foundation that can later evolve into functional products.
Narrative flip:
Old model: Build product → Launch token → Attract community.
New model: Build community → Launch MemeCoin → Evolve into a product-driven ecosystem.
The initiative by Litecoin to launch a MemeCoin mascot exemplifies this shift, sparking debates about the future role of MemeCoins in the crypto space. Panel discussions involving Binance, OK, and Gate.io emphasized their increasing willingness to list MemeCoins, citing strong engagement metrics as justification.
Potential insight: MemeCoins reflect a new paradigm where culture precedes technology. They serve as an "entry point" for broader crypto adoption, nurturing initial participation and transitioning into a utility-driven ecosystem.
3. The role of AI in blockchain: Data > Models
AI discussions were another highlight, focusing on the value of viewing data as a key resource. While models like GPT-4 have captured public imagination, Devcon speakers argued that data remains the cornerstone of meaningful AI applications.
Key themes:
Data scarcity: The uniqueness of data sources makes them more valuable than the models processing them.
Role of blockchain: Decentralized systems can democratize data ownership, providing transparent and equitable access.
DeFi applications: Platforms are beginning to use node assets and tokenized data as collateral in decentralized finance, opening new financial avenues.
Impact on Web3: The next frontier lies in combining the transparency of blockchain with the computational power of AI, making data a foundational asset class.
4. AI robots in negotiations: The future of deal-making
AI-driven KOL robots have gradually expanded from simple marketing tasks to complex tasks such as negotiations. This shift has profound implications for how Web3 projects conduct collaborations and financing.
Current application scenarios:
Automated communication expansion: Robots can proactively develop leads and schedule meetings.
Real-time market insights: By analyzing market sentiment, robots can dynamically adjust their pitches.
Negotiation representatives: Some AI robots can even negotiate independently, using data-supported arguments with minimal human intervention.
Challenges faced:
Trust issues: Stakeholders remain skeptical about entrusting critical tasks to AI.
Regulatory uncertainty: The legal framework surrounding AI negotiations is not yet fully defined.
Market fragmentation: A plethora of different AI robots has emerged across various platforms, with new robots launching daily, making it challenging to keep up with updates and select the most effective tools.
The Devcon conference revealed that while full automation may take years, AI robots will play an increasingly important supportive role in the deal-making process of business development.
5. Conclusion: A key turning point for the industry
Devcon 2024 revealed a critical turning point in the development of Web3. Currently, the industry's focus is shifting from speculative narratives to long-term practicality and infrastructure development. However, this journey remains fraught with challenges.
Core conclusions:
1) Venture capitalists (VCs) value clear communication, tangible growth data, and scalable business models.
2) MemeCoins are redefining user acceptance, where cultural influence takes precedence over technology itself.
3) Data has become the new "currency," surpassing the importance of traditional models in AI innovation.
4) AI robots mark a new frontier of efficiency in negotiations.
5) The next wave of market prosperity may stem from the acceleration of adoption rather than mere technological innovation, especially as institutional investment support strengthens.
Article link: https://www.hellobtc.com/kp/du/12/5575.html
Source: https://buildwithmv.medium.com/deep-dive-devcon-2024-capturing-the-pulse-of-web3-evolution-be2ccf97e4da
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