By James Wo, Founder and CEO of DFG
In a few short years, conferences and expos have brought the blockchain community beyond the screen by gathering the industry’s most prominent innovators and thought leaders under one roof. A few big-tent crypto events have become calendar mainstays for product unveilings and unparalleled industry networking. And non-crypto conferences in the financial and consumer-tech sectors have also added blockchain and Web3 tracks to their agendas in recent years.
Attending, sponsoring, or speaking at a landmark convention grants real-world legitimacy for founders and their projects that no follower count can replicate. In that sense, the blockchain industry is no different from any other industry that convenes over large conferences and expos.
But some blockchain events have also become better known for their partying and gaudiness than being centers for a flourishing industry to highlight its very best projects. And when events become more superficial instead of reflecting the industry’s innovation, developments, and large-scale impact, it’s time to re-evaluate these conferences’ reputations.
The event challenge
Events need to move tickets to be successful— there’s really no way around that. And doing so usually hinges on scoring big names as speakers and deep-pocketed sponsors that attract the ideal audience.
But solely emphasizing grade-A companies shrinks the spotlight for other projects, and can soften the impacts of industry events as an open forum to showcase the latest and greatest in a field. For investors that attend large events to select sectors or projects to support, shutting out smaller projects can make an entire industry look more homogenous than it truly is.
Blockchain events are no exception to this, and the chances for smaller projects to network with VCs and investors that attend events severely diminish when this happens. Calls for papers and speaking slots often get dominated by large donors, or only by projects that speak to a specific trend. That kind of environment isn’t conducive to fostering a broad and open discussion on new blockchain paths and developments that might not necessarily align with what’s trending at that specific moment.
Ultimately, that leads to potentially revolutionary projects and builders finding themselves excluded from a vital part of the blockchain ecosystem. Whether from not having the funds to attend and sponsor the event or being shut out of speaking opportunities, the levels of access aren’t equal.
Looking at the sidelines
Smart founders can, of course, tailor their messaging to capture attention and make themselves relevant to an event’s agenda. But if they’re being overlooked before even getting a foot in the door, their chances of success will come to a screeching halt.
If blockchain builders want to truly find the future of crypto, Web3, and everything in between, it’s time to go beyond the flashy keynote speakers and main stage lineups.
When events focus on a very specific subset of the industry or prioritize afterparties, they end up losing the original intent of not only what an industry event is for—but blockchain as a whole. Blockchain and crypto are founded on decentralization and disruption, and ignoring that for the sake of grabbing headlines sends the wrong message to both blockchain builders and potential investors.
Instead, event organizers and even large-scale event donors should aim to build more inclusive and sophisticated conferences. It would show that the industry is ready to mature, and even help boost shrinking attendance numbers for certain events. There can and should still be an element of fun, but creating space for smaller projects looking to connect with investors and wider audiences must become a priority.
Industry events are the place where builders that might otherwise go unnoticed can stake their claim. But that can only happen if organizers and investors care to look at the sidelines. In a year where crypto and blockchain are looking to move out of crisis mode, revisiting the role that events play in the industry will prove to be worthwhile to help land on solid ground.
About the Author:
James Wo is an experienced entrepreneur and investor in the digital assets space who founded DFG in 2015, where he oversees $1 billion worth of digital assets. He is an early investor in companies like LedgerX, Coinlist, Circle, and 3iQ. James is also an early investor in and supporter of the Polkadot and Kusama networks. He contributes substantially to the ecosystem through capital allocation, donations, and actively supports the Parachain Auctions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.