Hong Kong Web3 Summit: Popularity Declines, RWA Becomes the Focus, Chinese Pros Gather Attention

From April 6 to 9, 2025, the Hong Kong Web3 Carnival will be held at the Hong Kong Convention and Exhibition Centre. As an industry event, it brings together nearly 400 global experts, scholars, and industry leaders, with the exhibition area increasing by 50% compared to last year. However, the on-site popularity is noticeably lower than in previous years, with a significant decrease in attendance, and the number of booths has reduced from over 150 last year to less than 100.

The reasons for the decline in popularity are diverse: first, it is currently a period of market downturn, leading to reduced enthusiasm for participation; second, the previous consensus conference diverted some attention; third, the industry as a whole lacks new hotspots and innovations, resulting in decreased participation from ordinary users.

In terms of booths, a certain trading platform's booth is the most popular, becoming the center of foot traffic. In addition, the MEME project GMGN is also quite popular. The theme of Payfi remains a hot topic, with traditional financial institutions making achievements in this field. It is worth noting that the RWA( real-world asset) concept has garnered attention, with relevant institutions actively participating.

Compared to previous years, some once-popular concepts such as DePin and certain public chain projects have seen a noticeable decline in exposure at this conference. Topics related to the Bitcoin ecosystem have also not garnered much attention.

From the perspective of the composition of participants, opinion leaders have become the main force, while venture capital institutions are relatively low-key. Although the main venue lacks popularity, the surrounding activities are still exciting, with major platforms hosting numerous social events.

The most striking aspect of this conference was the collective appearance of Chinese industry pros. In one event, several well-known figures gathered together, sparking widespread discussions in the market. In contrast, the speech by the founder of Ethereum failed to resonate much, reflecting the current market's greater focus on price rather than technology.

Despite the challenges faced by Hong Kong in the development of the Web3 sector, the level of policy support remains strong. Official data shows that the number of fintech companies in Hong Kong continues to grow, covering multiple emerging fields. Regulatory agencies are also actively promoting relevant policies, such as allowing virtual asset ETFs to participate in staking activities.

Overall, this conference reflects the current state of the industry being in a phase of alternating bull and bear markets. Although there is a lack of hotspots, it also provides opportunities for quality projects to stand out. The integration of traditional finance and emerging fields is accelerating, bringing both opportunities and challenges. In the future, Hong Kong, as a hub connecting tradition and innovation, is still expected to play an important role in the development of Web3.