Forging unbreakable blockchain bonds: NFTStudio24 and Asia Web3 Alliance Japan

As technology continues to redefine industries across the globe, the platforms that unite and support international blockchain ventures are growing more important by the day. MarketsandMarkets projects that the global blockchain market will surge from $20.1 billion in 2024 to an impressive $248.9 billion by 2029, boasting an extraordinary Compound Annual Growth Rate (CAGR) of 65.5%. This explosive growth is set in motion by advancements in cloud solutions, AI, and machine learning, which collectively boost scalability, cost-efficiency, and security.

In the midst of these technological breakthroughs, we’re delighted to feature our latest interview with Hinza Asif, CEO of NFTStudio24 and Asia Web3 Alliance Japan, who shares her visionary outlook on the future of content creation, tech, and media in the Web3 space.

What inspired you to start NFTStudio24 and how do you envision it shaping the future of content creation and consumption?

“I have always been interested in doing something unusual and yearned for innovation. As the world went crazy for crypto, Web3 & blockchain, I also developed an interest. With a background in media, particularly in digital marketing, and keen interest in technology, I thought to myself, let’s integrate media and blockchain.

In 2021, I created NFTStudio24 – Japan-based decentralized digital media built on the ICP blockchain. The purpose behind creating decentralized digital media is to empower journalists through content tokenization. Moreover, as part of the media industry, it’s important for me to be vocal about revolutionizing the media industry. Hence, as a President of the Web3 journalist community at The Foreign Correspondents’ Club of Japan, I most recently hosted an event to “Support Online Media With Web3 & AI.” The event pictures and videos will be released soon on NFTStudio24.com’s official platforms.

In essence, I’m deeply committed to making Web3 accessible to the world, so from the platform of NFTStudio24, I look forward to providing guidance and media support to startups, established projects, and individuals looking to make their way in this dynamic space. I consider it a huge achievement to stand as a trendsetter in Japan as the foreign businesswoman to establish a decentralized media platform.”

What do you find is the most exciting part about being the CEO of one of the best  Japanese decentralized media platforms out there?

“Media platforms expose you to different roles, industries, innovators, and entrepreneurs. As CEO of the Japan based decentralized media platform, I enjoy meeting Web3 innovators, witnessing new Web3 projects launch every now and then. Most importantly, it’s active collaborations and networking with corporate as well as the government sector that excites me.

As you may know Japan is actively participating in adapting Web3 trends and the government is slowly moving towards making amendments in law as well to foster Web3 industry and its interaction in all spheres of the Japanese community. I feel privileged and excited to be part of this revolution and the Japanese Web3 entrepreneurial community.”

What prompted you to take the lead at Asia Web3 Alliance Japan? Can you share more about its mission and role in fostering collaboration within the Asian Web3 ecosystem?

“The reason for building Asia Web3 Alliance Japan is to empower and support International companies in Japan and globally, particularly in the blockchain space. Japan has specific regulations, and often, International entrepreneurs struggle to reach decision-makers. By establishing the Asia Web3 Alliance Japan, with a board of International members, the platform aims to provide a channel for international companies to share their feedback, request reviews, and have a stronger connection with government and financial services agencies in Japan. AWAJ’s core purpose is to create bridges between Asia’s flourishing Web3 ecosystem and Japan, fostering collaboration and innovation.”

Could you tell us about the key events NFTStudio24 and Asia Web3 Alliance Japan have lined up for the rest of the year? What impact do you hope these events will have on the Web3 community, both in Asia and globally?

“NFTStudio24 has most recently hosted an event for the Federal Correspondents’ Club of Japan on “Supporting Online Media with Web3 & AI.” A press conference with industry experts from huge names in the Web3 industry such as Astar Foundation, gumi Inc., and more was held at the Foreign Correspondents’ Club of Japan on July 19, 2024.

Asia Web3 Alliance Japan’s Investor Hub, which is supported by NFTStudio24 is a platform for Web3 investors and startups. To provide more exposure and networking opportunities, I am also organizing a VC / CVCs event at Forbes US platform. This event will take place on 10th October of this year. For more details, you shall stay connected with us.

As a digital media and alliance, we continuously host several events in Japan. There are several events lined up for this and upcoming year, the dates and details will be released at appropriate time.”

How do you see Web3 and blockchain technology playing a part in the media industry in the coming years? How important is collaboration with regulatory bodies for the future of Web3 and blockchain technologies?

“Web3 and blockchain technology will gradually revolutionize the media industry in several ways in the coming years. One of the most significant impacts will be on content distribution and ownership. Blockchain built digital media are the platforms where creators can directly interact with consumers, by removing intermediaries like publishers or streaming services.

NFTStudio24’s existence is laid on the exact same concept. The decentralized media could empower creators with more control over their work and potentially lead to fairer revenue models through smart contracts that automate payments based on usage or popularity.

Moreover, blockchain’s transparency can help cater to issues like fake news and misinformation. By recording the original content on a blockchain, consumers can verify the authenticity and trustworthiness of information they consume, which is crucial in today’s media landscape.

As for collaboration with Japanese regulatory bodies, it is vital for the future of Web3 and blockchain technologies. Japan has been proactive and carefully creating rules and regulations that support Web3 growth. These rules will provide protection to users as well as businesses and investors. Most importantly, it will encourage responsible development and adoption of blockchain technology.

It is now apparent that Web3 and blockchain technology have the potential to transform how media is created, distributed, and consumed. I am planning a few interviews and podcasts with government officials from Tokyo, Kyoto, and Fukoko for Web3 development and opportunities. Collaboration with these governments will help us in shaping a regulatory environment that promotes innovation while protecting consumer interests.”

What are some of the biggest regulatory challenges you see for Web3 and blockchain technologies in Asia?

“I think the Asian region has great potential for Web3 and blockchain development. The developments in past 6 to 8 months in Asian countries such as Bhutan’s investment of $500 million in mining facilities, Singapore’s 75% investors planning to allocate their investments to digital assets during this year, Harvest Fund Management and VSFG have also announced to soon submit applications for a spot bitcoin ETF in Hong Kong, and Japan is also making huge progress in Web3 adoption.

As far as regulatory challenges are concerned for Web3 and blockchain, Asian countries, especially the Japanese government, are making progress. Japan and Asia’s regulatory system is evolving. Asian countries are adopting various strategies to address regulatory challenges associated with Web3 technologies, reflecting their unique economic, cultural, and technological landscapes.

However, there are challenges that need attention to ensure continuous progress in Japan. Regulatory ambiguity remains a significant issue, with unclear guidelines surrounding various aspects of Web3 technologies. For instance, there are no definitive regulations regarding Decentralized Autonomous Organizations (DAOs) and the classification of crypto assets. Taxation issues also pose a substantial obstacle, as unresolved tax-related concerns hinder investment in Web3 projects. Additionally, cybersecurity and compliance risks are growing alongside the Web3 industry. Ensuring compliance with anti-money laundering (AML) regulations is challenging due to the decentralized nature of Web3, necessitating effective regulatory measures that do not stifle innovation. Furthermore, language barriers and cultural differences complicate the regulatory landscape in Asia. Each country defines its Web3 regulations based on its culture, and language preferences can hinder clear communication, even with AI tools and human interpreters. These challenges must be addressed to foster the growth of the Web3 sector in Japan.

Morten Rongaard is one of the most reliable and informative persons with a history of working for prestigious companies to create digital assets. His finance knowledge is commendable and I believe having him onboard for Investor Hub is one of the best decisions. Why? Because his entrepreneurial journey and experience can help Web3 investors and startups to understand the purpose of having a platform where they can grow their network of investors and find the appropriate match.”

Thank you, Hinza, for sharing your invaluable insights with us! To not miss out on the latest developments and events shaping Web3, be sure to follow of NFTStudio24.com and ASIA WEB3 ALLIANCE JAPAN.