The first ChinaJoy Web3 Conference ended successfully, exploring a new era of digital economy

** On July 29th, the first "ChinaJoy Web3 Conference" co-hosted by Hanwei Xinheng, Xinhuo Technology and D 11 Labs, and guided by the China Audiovisual and Digital Publishing Association, came to a successful conclusion at Shanghai Pudong Kerry Hotel. **

With the theme of **"Creating a New Era of Digital Economy", this conference focuses on discussing the future development trend of Web3 technology and digital economy, and reveals the most cutting-edge technology development trends and industry thinking. In addition, the conference focused on how Web3 cutting-edge technologies can promote the development of the digital economy, deeply link the ecological resources inside and outside the Web3 circle, accelerate the implementation of industrial ecology, and help Shanghai build international influence in the new digital economy such as Web3.

Famous Economist Zhu Jiaming, Shunwang Technology Director, Vice President & Hanwei Xinheng Chairman Han Zhihai, Animoca Ventures Fund Manager James Ho, Nano Labs Founder, Hong Kong Cyberport Director Kong Jianping, Ava Labs Vice President of Growth and Strategy Garrison Yang, Yu Jianing, founder and principal of Uweb, Zhao Binghao, dean of the Financial Technology Law Research Institute of China University of Political Science and Law and other guests attended the conference. The conference also invited iPollo Community Ambassador Little Ear Nina as the host of the event.

**Han Zhihai, vice president of Shunwang Technology and chairman of Shanghai Hanwei Xinheng Exhibition Co., Ltd., made an opening speech on behalf of the organizers of the conference.

Han Zhihai said that with the fervent rise of concepts and industries such as metaverse, digital art, and blockchain, more and more experts, scholars, and industry elites have begun to pay attention to Web3.0 innovative technologies, and Web3.0 has gradually moved from concept to reality. ChinaJoy has always been an open discussion platform for major transformational technologies and cutting-edge trending technologies in the digital entertainment industry. As a world-renowned game exhibition rooted in Shanghai, ChinaJoy will continue to follow the policy orientation, aim at the development trend of industry and technology, and boost technological innovation. It is hoped that the successful holding of this Web3 conference can inject new impetus into the development of Shanghai's new digital economy, promote the gathering of outstanding Web3 talents, technology, capital, and industries in Shanghai, and promote the prosperity and healthy development of the local digital entertainment industry.

Han Zhihai, vice president of Shunwang Technology and chairman of Hanwei Xinheng

Professor Zhu Jiaming, a well-known economist and chairman of the Academic and Technical Committee of Hengqin Digital Finance Research Institute delivered a video speech remotely. In his sharing, Professor Zhu said that when ChinaJoy was born 20 years ago, it was the Internet However, hot words such as blockchain, NFT, metaverse, and especially Web3.0 have not yet appeared, and artificial intelligence is still in a historical period expecting major breakthroughs. At that time, people's understanding of the digital entertainment industry, digital entertainment technology and digital entertainment culture was still in a very early historical period. Now that 20 years have passed, the technological foundation, connotation, potential and prospects of the entertainment industry have undergone fundamental changes.

Now big data, AIGC, virtual reality technology, including Metaverse and Web3 will provide important technical foundation and technical support for the entertainment industry and entertainment industry group. Among them, the value Internet and intelligent Internet formed with the support of Web3.0 and AI will create a new ecology of the entertainment industry.

Famous economist Zhu Jiaming

Afterwards, the main agenda of the conference officially began. The conference was divided into four topics: **"Web3 underlying infrastructure construction", "How Web3 technology empowers the digital economy", "Web3 leads the game industry to change the new paradigm" and "Metaverse current situation and future development trend". **

In the discussion session of the conference's first topic "Construction of Web3 Underlying Infrastructure", Kong Jianping, founder of NanoLabs and director of Hong Kong Cyberport, made a speech on the theme of "Metaverse Development Opportunities in the Web3 Era" and proposed Web3 three big law. Assuming that the industrial age is a two-dimensional space and the Internet age is a three-dimensional space, then the Web3 era is a four-dimensional or even higher space. On this basis, **he proposed three laws of Web3: **1. The network value of Web3 is at least as high as that of the Internet The cube of the user is proportional; 2. The total network value of Web3 is the sum of the network values of all layers; 3. All marginal users of Web3 will obtain the corresponding network value.

Kong Jianping, Founder of NanoLabs and Director of Hong Kong Cyberport

Garrison Yang, Vice President of Growth and Strategy of AvaLabs, conducted an in-depth discussion on the construction of the underlying infrastructure of Web3 from the perspective of games. He shared in the keynote speech of "Web2.01, the Next Step of Game Innovation": The growth rate of Web3 game users is not as fast as everyone expected, and there are still relatively large resistances to customer acquisition, such as the use of decentralized tools, high costs, and poor game playability, which have dissuaded many Web2 games. user.

On this basis, Garrison put forward the concept of "Web2.01": Developers maximize the use of Web3 and blockchain technology while minimizing the impact on the user's game experience, and realize the Web2 game experience with Web3 technology. "At the moment we should focus more on improving the Web2 experience, and not do things that players are not ready for. The market has told us that Web2 games are far ahead of Web3 game experience, and Web3 technology should improve these good experiences instead of replace it," Garrison said.

Garrison Yang, Vice President of Growth and Strategy, AvaLabs

In June this year, AvaLabs launched the Avalanche Arcad 3 project, dedicated to helping Web2 game companies explore Web3. Arcad 3 will help Web2 game companies with blockchain technology, marketing and development models.

In the session of "How Web3 Technology Empowers the Digital Economy", Yuan Yuming, CEO of Firelink Technology, said in the [Opportunities and Challenges: Web3 Empowers the Development Prospects of the Digital Economy] roundtable discussion that this year's AIGC and AI industry The popularity has brought new development opportunities to blockchain and Web3. The data required by AIGC and virtual AI models can be used to build a platform through blockchain and Web3 technology. The entire process of data transfer can be tracked and confirmed on the chain. In this way, on the one hand, it can ensure that the rights and interests in the process are confirmed, and fully stimulate everyone's enthusiasm. On the other hand, it can also avoid various violations and other behaviors, so from this perspective, the blockchain has a great underlying support for the entire AI industry and even the digital economy industry.

Yuan Yuming, Chief Executive Officer of Huolian Technology

Elven founder and CEO Guo Junxiu said in the discussion that the blockchain can push the digitalization of finance to a new level, and can achieve a new level of financial digitalization that is completely real-time and truly integrated with business and finance. Because all data in the blockchain is on the chain, and it is not only a business contract, but also a financial performance. All transactions and contract behaviors are uploaded to the chain to form a very good basis for data governance. Business and finance can truly realize the integration of signing and contract performance from the moment of Day 1 transaction, which has achieved a very good foundation for the integration of business and finance.

Junxiu Guo, Founder and CEO, Elven

In the third session of the conference**“Web3 Leads the New Paradigm of Game Industry Transformation”, James Ho**, head of Animoca Ventures Fund, delivered a keynote speech on the theme of “The Past and Future of Web3 Games”. James Ho mainly introduced the current investment strategy of Animoca Ventures. In order to accelerate the large-scale application of Web3, Animoca Ventures is currently more inclined to invest in innovative open infrastructure projects and content applications. The investment strategy has shifted from trading markets to content creation. James Ho said, "True digital ownership is in a more equal Internet. We make this Internet more open, bring more creative behaviors in, and unlock more economic opportunities. We hope that when Web3 is realized When the number of players reaches 1 billion, we are still at the forefront."

James Ho, Head of AnimocaVentures Fund

Doublejump.tokyo Co., Ltd. Asia Chief Strategy Officer Chen Haiteng gave a speech on the theme of "Business Opportunities and Challenges of the Japanese Web3 Game Industry" in this session. He shared: the current situation of the Japanese Web3 game market is led by large Japanese game companies, Enterprises with well-known IPs are gradually entering or indicating that they intend to enter this market. The popularity of the Web3 game market and the sustainable atmosphere formed by the market are heating up. Japanese companies and the government are focusing on creating a healthy market for Web3, and now is the best time to enter the market.

Haiteng Chen, Chief Strategy Officer, Asia, Doublejump.tokyo Co., Ltd.

Doublejump.tokyo is a development company specializing in NFT and blockchain games. It is known as the "Nintendo of the Japanese Web3 industry". Japanese game giants Bandai Namco and Sega are its strategic investors and partners. Also, double jump.tokyo produced Japan's first blockchain game. In June of this year, double jump.tokyo released the preview website of "Battle of the Three Kingdoms - Romance of the Three Kingdoms", a groundbreaking Web3 game developed under the authorization of Sega, which will debut in 2023. double jump.tokyo also participated in the development of Oasys, a Japanese public chain specially designed for game developers.

The last topic of the conference was "Current Status and Future Development Trend of Metaverse". Yu Jianing, the founder and principal of Uweb, took "The True Era of Metaverse: Web3.0 and AIGC Empowering and Changing the Game Industry" as an example in this session. The subject was spoken. Yu Jianing believes that Web3.0 not only builds a human-level financial Internet, but also builds a human-level value Internet, which is an important pillar of the future Metaverse. From the point of view of the iterative upgrading process of the entire Internet, content and creation methods are very key driving factors. Web1 looks at marginal content, Web2 looks at UGC and short videos, and the content production method in the Web3 era is more driven by AI. Different content production methods lead to changes in the content ecology, and changes in the content ecology lead to changes in the relationship between content and people and the value logic of content. Changes have also changed the entire Internet.

Yu Jianing, founder and principal of Uweb

Amazon Cloud Technology Solution Architect Mo Ziyuan delivered a keynote speech on the theme of "Building an Immersive Metaverse Based on Web3" in this session. Mo Ziyuan introduced that the emergence of Metaverse has given many startups the opportunity to break the monopoly of game giants, but they still face great challenges in the face of such companies. They do not have a complete development tool chain like large companies. For example, in the case of data analysis, how to build a complete data analysis system. Amazon Cloud Technology has designed a complete set of game development tools for start-up game developers, not only GameLift fully managed game server backend services, but also open source Open 3D Engine (O 3D E) 3D for game developers in Metaverse. Game engine, which is a modular, open-source, cross-platform 3D engine, can make AAA games and can also be used for 3D movie production.

Mo Ziyuan, Amazon Cloud Technology Solution Architect

In addition, Zhao Binghao, an internationally renowned expert in business law, financial technology and digital law, delivered a keynote speech on the theme of "Cross-border Web3 Project Compliance Guidelines"**. In his speech, he mainly discussed "Web3 Project Compliance Guidelines" and "Legal Risks and Compliance for GameFi Projects". Zhao Binghao believes that the legal structure design of the Web3 project is mainly based on three factors: 1. Financing structure, because most Web3 projects need to be invested by investors, and legal considerations are required in terms of financing; 2. Governance structure, the Web3 project will further Transforming into a DAO organization, how to achieve compliance at the legal level is a question that Web3 3 entrepreneurs have to consider; 3. Responsibility structure, which is related to the governance structure.

When talking about the "legal risks and compliance methods of the GameFi project", Zhao Binghao introduced the current status of the supervision of the GameFi project in countries in East Asia. The development of chemical compliance should pay full attention to the local regulatory system, respect and take targeted compliance measures to achieve long-term development.

Zhao Binghao, an internationally renowned expert in business law, financial technology and digital law

WorldXR Forum Chairman, Sensoryx Commercial Director Salar Shahna gave a speech on the theme of "Connecting the Real World, Empowering the Metaverse". Salar said, “Many people think that VR is dead, but the emergence of blockchain, Metaverse and Web3 has made VR more durable. Virtual assets and blockchain technology can be combined with VR and used in the virtual world. , and can even be consumed in the VR world, the blockchain can better link the real world and the virtual world.”

Finally, Salar mentioned that digital identity is the identity card that users pass in the metaverse world, which can bring people a sense of identity in the virtual world and better improve user experience.

Salar Shahna, Chairman, WorldXR Forum, Commercial Director, Sensoryx

This conference received strong support from strategic partners such as Ava Labs, Amazon Cloud Technology, Animoca Ventures, double jump.tokyo, and Oasys. With the help of all Web3 entrepreneurs, scholars and experts in various fields, the conference ended successfully.

This ChinaJoy Web3 2023 is the first time that ChinaJoy has joined hands with the Web3 industry. The successful holding of the conference represents that the speed of coordinated development of cutting-edge technology and the digital entertainment industry is accelerating, and it also means that Web3 technology empowers the digital economy to move towards the fast lane. A better digital A new era of economics is upon us.