Why Japanese Students Are Getting into Web3 | Blockchain Hackathon for Students 2023 Report
2024.07.22
Writer
Pacific Meta participated as sponsors in the “Blockchain Hackathon for Students 2023,” organized by the Web3 student community from the University of Tokyo, Hongo web3 Valley, which took place from December 9th (Saturday) to December 16th (Saturday), 2023.
What is the Blockchain Hackathon for Students 2023
“Blockchain Hackathon for Students 2023” is a blockchain hackathon event with a vision to provide a gateway for young individuals to create the future of Japan in the Web3 domain, organized by Hongo Web3 Valley, originating from the University of Tokyo.
Featuring prestigious speakers and judges, this hackathon is organized by students for students. While some participants may have limited experience in blockchain development, the aim is to enable exceptionally talented students to gain experience in developing from 0 to 1 in the blockchain field, thereby contributing to the future development of the Web3 domain.
Why we became “Global Partner” to this hackathon
Hongo Web3 Valley is home to many young individuals, primarily University of Tokyo students, who are shaping the future of Web3. Pacific Meta is led by CEO Shota Iwasaki and consists of 14 University of Tokyo alumni and current students, some of whom are also members of Hongo Web3 Valley.
Pacific Meta, building upon the relationship between University of Tokyo alumni and the university itself, has assumed the role of Global Partner for this hackathon. Starting with this collaboration, we aim to activate and expand the community of student Web3 forerunners and hackathon events, making them some of the best in the world, in cooperation with Pacific Meta.
Moreover, leveraging Pacific Meta’s global connections, we will promote hackathons organized by Hongo Web3 Valley to the world and bridge the gap between top global projects and Japan’s premier student Web3 community.
For more details on the background of our appointment as Global Partner, please refer to the following press release.
Final Day of the Hackathon
Pacific Meta joined the hackathon on December 16th, the final day of the event.
After two days of learning on DAY1 and DAY2, followed by five days of development, the pitch for the products developed under the theme “Blockchain x Sustainability” by all nine teams was held at Crypto Base in Shibuya.
After rigorous evaluation, the final award results were as follows:
1st place
“Building a fair and transparent database using anonymous voting using zero-knowledge proofs” by team Taketora
2nd place
“Dynamically priced NFT marketplace” by team dpmarket
3rd place
“Realization of a sustainable data collection platform using a joint consortium type blockchain by multiple research institutions” by team Skytrx
The winning teams were awarded a total prize money of 550,000 yen (equivalent of 3,830 USD). Furthermore, for the team that contributed the most to the event by sharing information in the online workspace during the development period, Starbucks gift cards were presented as a Community Engagement Award.
Connecting with Students at the After Event
Pacific Meta presented on stage, providing the attending students with an explanation of the company’s vision, business activities, organization, and internship opportunities before the networking event.
During the actual networking event, we had the opportunity to interact and exchange information with students who showed a strong interest in Web3, including those from the University of Tokyo.
Through the presentations and the subsequent networking event, we were able to feel the passion of talented young individuals who are likely to bring a new wave to the future of the Web3 industry. We are confident that the future of Japan’s Web3 sector will become even brighter.
Interviewing Students from Hongo web3 Valley
Thanks to this event, we had the pleasure of interviewing Mr. Ryoto Ogawa, founder of Hongo web3 Valley and first representative, as well as Mrs. Hikaru Tokunaga, second deputy representative.
Through this interview we were able to gain a better understanding into why Japanese students are into Web3 now, with many insights into the reality of student Web3 communities in Japan.
Here are the highlights
- Support from the government is strong
Because the government is promoting Web3 in the context of startups, it is gaining a lot of attention among talented students who are interested in startups, or have an entrepreneurial mindset. - Better regulations
Compared to other countries, with the Japanese government’s support, regulations have been put into place for a safer Web3 experience leading to a positive impression of Web3 in general. This makes it an approachable field for students without having to worry about the risk. - Approachability
Web3 is an approachable field for students where many young people are taking initiative and are able to reach higher ups with enough motivation and willingness to meet them. - Financial incentive
The financial incentive of trading in Web3 is also an aspect of Web3 that makes it approachable to students. Even with low cost investments, there are some experiences of success and that has led to motivation for students. - Intrigued by trends
Many students in Japan became familiar with/gained interest in Web3 after the boom of NFTs in 2022. - Social application
Students of Hongo web3 Valley are also interested in the possibility of social application of their work in the next few years, by collaborating with companies and organizations that are also in the Web3 space.
For the full interview, check the link below
https://docs.google.com/document/d/12x6Q2bqgXHhfarCHXNTH9YogsUUJnldJBqr-sqBFjAs/edit?usp=sharing
About Hongo Web3 Valley
Founded in June 2022 by three students from the University of Tokyo’s Faculty of Engineering, Hongo Web3 Valley boasts approximately 130 members and places significant emphasis on blockchain technology. Their mission is to become the foremost Web3 group capable of creating and developing businesses. They actively participate in Web3-related seminars and events, collaborate with industry experts, and share Web3 knowledge within their community. Notably, they have also made their presence felt on the international stage, participating in events like Ethereum Devcon and achieving recognition in blockchain hackathons.
About Pacific Meta
Pacific Meta is a dynamic company specializing in strategic consulting and marketing support for both domestic and international businesses and projects in the Web3 domain. With a globally connected team, Pacific Meta leverages primary information and networks from around the world to provide comprehensive support. Their core focus areas include crafting marketing strategies, managing and nurturing communities, and facilitating expansion into overseas markets.
Company Information
- Location: 305, THE CASK GOTANDA, 2–5–2 Higashigotanda, Shinagawa-ku, Tokyo, Japan CEO: Shota Iwasaki
- Established: August 10, 2022
- Business Activities: Web3 Marketing and Overseas Expansion Support
- Capital: 150 million JPY (including reserve capital)
- Company URL: https://pacific-meta.co.jp/
- Contact: https://pacific-meta.co.jp/contact/
We Welcome Inquiries from Companies Interested in Web3 Business Development
We are eagerly awaiting inquiries from companies interested in business development utilizing Web3. Feel free to contact us even if you have not yet determined specific details. Through discussions, we can provide proposals regarding the potential of Web3 utilization.
Contact Information
- Company Name: Pacific Meta Inc.
- E-Mail: info@pacific-meta.co.jp
- Contact Us: https://pacific-meta.co.jp/contact/