09 Sep 2024 Josphat Kariuki
Coinfest Asia 2024 Surpasses Records, Aims Higher For 2025
Coinfest Asia 2024 was successfully held in Nuanu City, Bali, on August 22-23, 2024. As the largest crypto and Web3 festival in Asia, the event attracted over 6,000 participants from various countries, marking a pivotal moment for the Web3 industry in the region.
Kasan, Head of the Commodity Futures Trading Regulatory Agency (BAPPEBTI), underscored the significance of Coinfest Asia as a leading platform for crypto asset industry stakeholders to exchange knowledge, collaborate, and foster innovation.
"Coinfest Asia serves as a crucial platform for industry players to share insights, collaborate, and explore innovations in blockchain and Web3 technologies, all of which are vital to strengthening the national crypto asset sector," Kasan stated.
Now in its third edition, Coinfest Asia has experienced impressive growth, with a 50% increase in annual participants—from 2,000 attendees in its inaugural year in 2022 to 4,000 in 2023, and surpassing 6,000 in 2024.
According to Felita Setiawan, the notable growth this year was driven by the increasingly favorable conditions within the Web3 and crypto industries.
“This year, the market conditions are significantly more positive, and participant engagement has been markedly higher. We introduced more interactive panel sessions, enabling direct interaction between attendees and speakers. Additionally, the event was designed to be more immersive, incorporating activities tailored to various audiences, including gamers and developers,” remarked Felita Setiawan.
With the theme "Where Innovation Meets Adoption," Coinfest Asia 2024 successfully brought together over 150 global experts in crypto and Web3, hosted 100 panel discussions, 100 side events, and facilitated the formation of more than 25,000 meaningful connections, fostering business opportunities and innovation.
The event also provided a unique opportunity for global Web3 companies to assess Indonesia's potential within the global Web3 landscape. Companies such as Internet Computer, Manta, and Pendle expressed admiration for the enthusiasm and rapid growth of Indonesia’s Web3 ecosystem.
Dominic Williams, Founder & Chief Scientist at DFINITY Foundation (Internet Computer), commented, "The caliber of Indonesian developers is among the highest globally—this was an unexpected discovery. We are extremely optimistic about Indonesia."
Victor Ji, Co-Founder of Manta, shared his perspective: "I am very optimistic about the community here. They are deeply invested in the user experience and the products they build."
Anthony, Head of Growth at Pendle, echoed this sentiment, adding, "The growth of Web3 in Indonesia is clearly evident, reflected by the vibrant energy I witnessed at Coinfest."
Coinfest Asia Goals and Vision for the 2025
2025 is anticipated to be a transformative year for the crypto industry, particularly in Indonesia. Beginning in January 2025, the Financial Services Authority (OJK) will assume regulatory oversight of the crypto industry from BAPPEBTI, a shift expected to foster a more conducive and stable environment for the crypto and Web3 sectors.
As the adoption of blockchain and crypto technology continues to accelerate globally, Coinfest Asia 2025 will return with a focus on addressing critical industry challenges, including advancements in Real World Assets (RWA), Digital Identity, AI in blockchain, and navigating increasingly complex regulatory landscapes. Additionally, Coinfest Asia 2025 will serve as a stage for significant announcements from leading crypto projects, poised to drive substantial industry developments.
Felita Setiawan remarked, “Coinfest Asia 2025 aims not only to double this year’s participation but also to elevate the event to new heights. We intend to introduce enhanced interactive experiences, welcome more global industry leaders, and expand networking opportunities to accommodate the growing demand for and relevance of Web3 technologies in Asia.”
About Coinfest Asia
Coinfest Asia is the largest global festival dedicated to crypto and Web3, uniting industry leaders, innovators, and communities to engage, learn, and collaborate on shaping the future of Web3 technologies. Held annually in Bali, Coinfest Asia continues to serve as the premier platform for expanding the industry's reach and strengthening its ecosystem within the region.
Coinfest Asia 2024 was proudly supported by over 60 sponsors, including Polkadot, Mandala Chain, Coinstore, OKEx Wallet, CoinTech2u, CFX, Aptos, Haqq, Google Cloud, Ripple, Indodax, Tokocrypto, Pintu, Triv, Cloudmile, MEEET, Staynex, W3GG, BRI Bank, Bitget, and many more.
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