Coinfest Asia, Asia’s immersive Web3 festival, will return to Bali on August 24-25, 2023. Previously, the 2022 edition of Coinfest Asia attracted over 2,000 participants from more than 50 countries, with participants ranging from institutional to retail to regulators.

HotQA X Coinfest Asia 2023 collaboration for a fruitful media partnership

Coinfest Asia 2023 will feature a new theme titled Converge, which aims to converge the Web2 and Web3 industries into Web2.5, which is a transition process between Web2 and Web3. This is also a way for Coinfest Asia to show its support for the Web 2.5 industry and Web3 implementation.

This year, Coinfest Asia will return with insights and a variety of interactive and interesting activities about the Web 2.5 industry, which is transitioning from Web2 to Web3. This event is also a platform for us to contribute to the growth of the Web3 industry, particularly in Asia.

Felita Setiawan, Director of ICN and Coinfest Asia organizer.

Get to know Web 2.5 and The Role in the Industry

The Internet has been around for more than 50 years, with two generations present along the way. Web1 is simply information that is available on the internet. Web2 enables users to interact with web pages, making them more interactive.

Web3 is the next generation, which will take the internet to a higher level than the previous generation, with various innovations ranging from blockchain, crypto, decentralized technology, NFT, Metaverse, and AI.

However, as with any new technology, Web3 is still difficult to implement. Web2.5 required some kind of link to make Web3 acceptable to previous generations of Web users.

Web 2.5 refers to the blockchain industry that exists between Web 2 and Web 3. The idea is that consumers want the benefits of a blockchain-based platform. They did not, however, want the hassle that often comes with blockchain-based systems, so Web 2.5 would make it easier for people to transition from Web2 to Web3 and would cause less trouble if people switched to Web3 entirely.

Several well-known brands began to enter Web3 with Web2.5. Nike, among other things, announced the creation of SWOOSH, a Web3 platform that is currently in beta testing for the creation of online digital communities. Fans can design interactive digital objects such as t-shirts, shoes, and more.

Similarly, Starbucks launched its blockchain-based loyalty program in December. Starbucks Odyssey will offer coffee-themed NFTs as well as a loyalty program that goes beyond free drinks.

Get tickets at special prices, visit the Coinfest Asia site now!

Stay tune with HotQA for more upcoming event exciting news