Top

Japanese Firm Exec Underscores User Experience and Collaboration in Web3

Web3 & Enterprise·May 16, 2023, 6:50 AM

Hiroshi Tsuruoka, the Chief Operating Officer (COO) of UNCHAIN, a Japanese company specializing in Web3 entertainment services, recently underscored the significance of unique experiences and collaboration in the Web3 space. He shared these insights during his conversation with Webmaster Forum, a platform offered by Japanese web content provider Impress Corporation.

UNCHAIN, Tsuruoka’s employer, aims to assist companies in entering the Web3 sphere and developing entertainment services that offer users a secure and enjoyable experience. The company provides comprehensive support, including planning, development, and marketing, tailored specifically for the Web3 environment.

Photo by Shubham’s Web3 on Unsplash

 

Importance of content quality

During the interview, Tsuruoka said that Web3 seems to have lost some of its previous popularity in Japan. Initially, the market experienced rapid growth driven by highly speculative products like NFT artworks and Play to Earn (P2E) games, which attracted participation from many Japanese companies. However, the subsequent downturn of global projects prompted the Japanese blockchain industry to reassess its strategy, recognizing the paramount importance of content quality.

 

Meaningful experiences

According to Tsuruoka, the appeal of blockchain games extends beyond their profit potential, deriving more from the unique, enjoyable experiences they offer. He believes that gamers find it meaningful when they play a pivotal role in expanding the gaming market and giving rise to new gaming cultures. Moreover, the incorporation of NFTs in games allows users to retain ownership of their in-game items even if a company discontinues its service, fostering a deeper emotional connection between users and their virtual possessions.

This emerging trend fosters a culture of creation, where users, operators, and creators come together in a collaborative space to generate secondary creations and new services. Users delight in actively contributing to this ecosystem and helping it grow.

Tsuruoka recognizes that decentralization presents both advantages and challenges. On one hand, it offers individuals greater freedom. However, it also places the full responsibility of data management on the users themselves, in contrast to a centralized environment where the game provider handles data management.

Tsuruoka advises against placing excessive emphasis on speculation and financial gain when discussing Web3. Instead, he encourages companies to prioritize delivering meaningful and valuable experiences to users. Tsuruoka believes that emotional experiences, such as owning a distinctive avatar through digital assets, hold tremendous potential in the Web3 realm.

 

Web2 success first

He asserts that no Web3 project can guarantee success without proving its worth in the Web2 space. Services that proved valuable in Web2 could experience significant growth when combined with Web3 elements.

 

Strong relationships

Tsuruoka highlights the importance of establishing strong relationships between companies and users in the Web3 environment. While platforms like Discord can facilitate these relationships, it is crucial to strategically design user engagement, motivation, and enjoyment before launching a service. Effective community management in the Web3 space requires deep user engagement, which entails ongoing and intensive communication between operators and users.

Tsuruoka emphasized the need to heed user feedback. Regardless of the service type, incorporating user opinions and collaborating with them can result in significant community and project growth, with corresponding increases in asset values. He added that this is not limited to the Web3 domain.

More to Read
View All
Web3 & Enterprise·

Feb 23, 2026

SBI enters tokenized bond market with XRP incentives amid crypto market slump

Japanese financial conglomerate SBI Holdings has announced plans to issue security token (ST) bonds targeted at individual investors, marking the firm’s first foray into this bond format. The instruments will be issued and managed on the “ibet for Fin” blockchain platform led by BOOSTRY, bypassing the conventional management system operated by the Japan Securities Depository Center (JASDEC). Trading is scheduled to commence on March 25 via the proprietary trading system (PTS) operated by the Osaka Digital Exchange. As an incentive, Japanese investors—both individuals and corporations—who acquire the ST bonds will receive XRP tokens corresponding to their subscription amounts. These benefits will be offered to Japanese bondholders whose subscriptions are confirmed by SBI Holdings and who hold an account with SBI VC Trade, where they must complete the necessary procedures by noon on May 11.Photo by Kanchanara on UnsplashBitcoin lendingIn a parallel move within the Japanese digital asset sector, Remixpoint, a publicly listed energy management firm, has begun lending its 1,411 Bitcoin holdings through SBI Digital Finance. Positioning Bitcoin as a strategic asset to bolster its financial base, Remixpoint aims to generate yield from the cryptocurrency rather than relying solely on capital appreciation. The lending program is set to launch on Feb. 24, with interest rates determined by market conditions and loan terms. Despite these corporate initiatives to expand into digital assets, the broader market continues to face significant headwinds. Asian investors remain wary amid the current downturn, and expectations for a near-term recovery remain subdued. Bearish mood dominatesA weekly survey of South Korean investors conducted by CoinNess and Cratos last week showed that bearish sentiment remained entrenched. Only 15.5% of respondents said they expected Bitcoin to rally this week—down from 18.3% in the prior survey—while 52.8% anticipated a decline or steep drop. The share forecasting sideways consolidation rose to 31.7%. Sentiment indicators further reflect this caution, with 57.4% of respondents describing the market mood as “fearful” or “extremely fearful,” compared with just 14.2% expressing optimism. Regarding potential support levels, the largest group of respondents (33.6%) projects that Bitcoin could retest the $50,000 range, while 21.2% anticipate a drop below that threshold. According to CoinMarketCap, XRP is trading at $1.33, down 6.47% over the past 24 hours. Since July, the token has declined 62.54% from $3.55. Bitcoin is trading near $65,070.83, down 4.29% over the same period. It remains 48.21% below its all-time high of $126,198.07, recorded in October. 

news
Policy & Regulation·

Dec 16, 2023

Digital asset insurer funds Middle East expansion

Digital asset insurer funds Middle East expansionOneDegree, a Hong Kong-based InsurTech startup is expanding its area of engagement to the Middle East, funded through an undisclosed investment from Dubai Insurance.Fresh funding round to finance growthThe seven-year-old startup announced on Friday that it has secured further funding, solidifying its commitment to Middle East expansion while building upon the success of OneDegree’s $55 million Series B round in June. Total funds raised are believed to be in the region of $100 million.The Series B round was required to expand its digital assets insurance portfolio. Similarly, the partnership with Dubai Insurance is aimed at facilitating OneDegree’s expansion into the digital asset insurance sector within the United Arab Emirates (UAE) and the Gulf region. The startup firm will now proceed to establish a new entity in Dubai and hire staff locally to take on new business in the region.Among its notable investors are Alibaba Entrepreneurs Fund (AEF) Greater Bay Area Fund, Sun Hung Kai & Co and Cathay Venture, the venture capital arm of Taiwanese billionaire Tsai Hong-tu’s Cathay Financial Holdings. OneDegree’s CEO, Alvin Kwock, has stated that the company is on track to achieve profitability by the second half of 2024.Photo by Roman Logov on UnsplashMinisterial interestIt’s understood that the UAE’s economy minister, Abdulla bin Touq Al Marri, had outlined his interest in OneDegree bringing its service offering to the UAE when he met with representatives from the company at the Belt and Road Summit in Hong Kong in September.Given that OneDegree is planning to service the digital assets sector in the UAE, the move aligns with Dubai’s new crypto regulatory framework implemented earlier this year, which mandates insurance coverage for licensees engaged in crypto-related businesses to safeguard users’ funds. Major players in the crypto industry, such as Binance, Crypto.com and OKX, have already established a presence in Dubai.Only digital asset insurer in AsiaIn a video interview from Dubai on Friday with Forbes, Alvin Kwock emphasized OneDegree’s unique position as the first and only licensed insurer in Asia capable of providing digital asset insurance.Kwock revealed that approximately half of the world’s top 20 crypto exchanges have approached OneDegree for its digital asset insurance, with some of them already being clients. The startup has extended its services to around 30 companies, including Cactus Custody, the custodian unit of Singapore’s Matrixport; Rakkar Digital, backed by Thailand’s Siam Commercial Bank; and Hashkey, one of Hong Kong’s licensed crypto exchanges.In July it penned a deal with blockchain infrastructure firm Blockdaemon. Meanwhile, it has been underwriting digital assets for crypto custodian METACO since November 2022.Anticipating substantial growth, Kwock expects the number of OneDegree’s digital asset insurance customers to surpass 100 by the end of 2024. He foresees this segment constituting about half of the company’s total business in the coming year, up from the current level of 30%. Kwock underscored the evolving dynamics in the crypto market, emphasizing the increasing importance of risk management and the essential role of insurance in the digital asset industry.OneDegree’s expansion into the UAE aligns with the nation’s crypto-friendly policies, actively attracting firms to leverage its supportive regulatory environment. Indirectly, it also serves the Hong Kong government’s strategy to deepen business ties with the Middle East.

news
Policy & Regulation·

Mar 01, 2024

Hong Kong broadens e-CNY testing with focus on cross-border payments

Having made significant strides in undertaking testing of the digital yuan in recent times, Hong Kong is expanding its e-CNY pilot testing while at the same time crafting its own central bank digital currency (CBDC), dubbed the e-HKD.Photo by Simon Zhu on UnsplashIntegrating e-CNY with FPSDuring a recent budget speech Hong Kong’s Financial Secretary Paul Chan unveiled plans to empower Hong Kong residents to bolster their digital yuan wallets through the local “Faster Payment System” (FPS), marking another move forward in bolstering cross-border payment efficiency.FPS is a real-time payment settlement system which enables the user to complete payments across banks through the use of recipient mobile phone numbers and email addresses. The move dovetails with the Hong Kong Monetary Authority's (HKMA) successful completion of the inaugural phase of its e-HKD pilot, propelling it into the second phase. The e-HKD pilot is focusing on retail applications such as programmable payments, offline transactions and tokenized deposits. At the same time as the e-CNY garners momentum, the HKMA is progressing the e-HKD in terms of unlocking the full potential of CBDCs in everyday financial transactions. This consists of the exploration of retail applications in the initial phase, coupled with the transition towards more intricate functionalities in the subsequent phase, underscoring Hong Kong's intent towards driving ever greater CBDC innovation within the Chinese autonomous territory. Streamlining transactionsThe integration of the e-CNY with Hong Kong's FPS promises to streamline transactions and elevate the fluidity of cross-border payments between Hong Kong and mainland China. This initiative follows on from an announcement back in September of last year to expand the e-CNY pilot program in Hong Kong. Financial Secretary Paul Chan aims to forge a bridge between mainland China and international markets, potentially setting a global precedent for CBDC interoperability and utilization. Furthermore, Hong Kong's issuance of the world's premier multi-currency tokenized bond, followed by a subsequent batch of tokenized green bonds, signifies the city's leadership in fusing digital finance with sustainable investment strategies, drawing significant interest from global institutional investors. mBridge initiativeThe collaborative efforts of the HKMA with the Bank for International Settlements and other central banks on the mBridge CBDC project further demonstrate Hong Kong's proactive stance in shaping the trajectory of international finance. Last month, authorities in China outlined yet another initiative that is designed to bring about cross-border use of the e-CNY with Hong Kong. The mBridge initiative, a multi-CBDC platform to support cross-border payments is being harnessed to bring about greater trade using digital currency across various jurisdictions. The project involves the central banks of China, Hong Kong, the United Arab Emirates (UAE) and Thailand. This concerted endeavor, coupled with Hong Kong’s array of digital currency ventures, positions the city at the forefront of CBDC innovation. All of this development comes as China has established new milestones recently, with the completion of an international oil deal using the digital yuan together with similar deals involving gold and iron ore. 

news
Loading