Nexticorn Collaborates with Tokocrypto to Network Potential Web3 Innovators

Ahead of the NXC Indonesia Summit 2022, the committee in collaboration with Tokocrypto held the “NXC Web3 Startup Competition”. This competition aims to capture the 10 best local Web3 projects to be given the opportunity to appear at the Summit event in Bali.

Based on data from DappRadar, the trading volume of the world NFT market in 2021 skyrocketed to $23 billion, indicating a 592% increase in new users making transactions.

The total investment of VCs, celebrities, and brands in the blockchain industry has even reached $27 billion. In Indonesia alone, from January to June 2021 it was recorded that more than 6.5 million people made cryptocurrency transactions with a total of $25 billion.

The same period in the previous year the value was only $4.4 billion, which means a significant increase of up to 470%. Currently, Indonesians can legally own and trade around 229 types of crypto assets.

Edward Ismawan Chamdani as Chief Summit Officer at the NXC International Summit 2022 revealed that all data shows that the growth of the Web3 industry in Indonesia is extraordinary.

“Through Nexticorn and NXC International Summit 2022, we believe that Web3 will become the foundation or launchpad for new unicorns from Indonesia. And this is in line with our mission to encourage the acceleration of the Indonesian technology industry which will give birth to new unicorns.”

Event Focus NXC International Summit 2022

One of the focuses of the NXC International Summit 2022 event itself is a deeper discussion and understanding of the potential of Web3 technology and its derivatives.

There is a special area called the Experience Area, dedicated for participants to experience firsthand with Web3 technology. In addition, Nexticorn will also invite globally renowned Web3 activists including market leaders to participate in this activity.

At the Founders Meetup & Kickoff event which was held virtual last Wednesday (18/5), Nexticorn Foundation Chairman Rudiantara explained that the topic of web3 became interesting to follow. This is seen by the increasing number of opportunities and potential for startups to start developing and implementing these technologies into their products.

“Web3 is a promising new phase. The potential of Web3 in Indonesia is currently up and rising. Tokocrypto is very optimistic about the potential of Web3 to expand people’s access to all kinds of better opportunities, from the economy, health to education,” said Pang Xue Kai, Co-Founder & CEO of Tokocrypto.

This strategic collaboration is in line with Tokocrypto’s vision to continue to be a builder and leader in the crypto, blockchain and Web3 ecosystem in the country, while at the same time bringing Indonesia to be a barometer in the global arena.

Criteria and Categories

The NXC Web3 Startup Competition is not only intended for startups or companies, but also for development teams or anyone working on commercial business products or services that use decentralized concepts or blockchain technology.

Several criteria that must be considered are 1) the core team must be dominated by Indonesian citizens; 2) The project has been running for at least 3 months; and 3) Have and can show traction/usage data.

This Web3 competition is divided into 4 categories, namely: DAO – Distributed Autonomous Organizations; NFT – Non-fungible Tokens (with utilities or smart contracts); dApps – Decentralized Applications; and Blockchain – Open Ledger with Blockchain.

Registration takes place from 24 May-12 June 2022. Followed by a judging session by Edward Ismawan Chamdani as Chief Summit Officer of NXC International Summit 2022 and Tigran Adiwirya as VP of TokoLabs Tokocrypto, which lasts for 3 days until June 15, 2022. The ten winners will be announced on June 18, 2022.

For technology activists who have started working on the Web3 project and want to further develop this latest innovation, register now. Further information regarding the competition and registration is available on the Nexticorn and NXC Web3 Startup Competition websites.