Would like to share some insight we got recently during the Taiwan business trip 🙌
Recap📝for Taiwanese Web3 Market
🧑🤝🧑User/KOL Feedback
✅To achieve mass adoption, localization is necessary (Language/Employees).
✅Taiwanese users are very cautious about investing large amounts of money and need more time to build trust. (Trust is always first)
✅Since the regime change in Taiwan, KOLs are sensitive about how regulatory bodies will respond to crypto.
✅They are also considering ways to promote to individuals who have received basic education on AML in stocks/crypto.
🛜Project Feedback
✅Projects with high aware in Taiwan:
Zeus, Scallop, Orderly, Sui, BAYC, and memes
✅For rapid expansion from a CEX perspective, localization is necessary (language, staff, etc.)
✅In Taiwan, people in their 30s, 40s, and 50s are more adept at trading rather than those in their 20s.
(Most rich individuals have made their money through TradFi like futures/options trading or gambling + stocks.)
✅ Rumor🙃 is there "Local exchanges operating with CEX licenses in Taiwan are all connected with gangsters"
✅The
#Web3 industry in Taiwan is very small, and almost everyone knows each other through one connection. => crucial to take care of reputation
✅From a regulatory perspective, it is best to promote the product in an education-friendly manner.
✅Since Web3 things in
#HongKong/
#China are just starting to enter Taiwanese market, now is the best time to establish a foothold
✅They care more about whether the platform is "trustworthy," "famous," and "easy to use." than just "rewards."👷
#FYI #NFA #taiwan #web3 #industry #recap