Just wrapped up three crypto events that painted a pretty clear picture of where we're at right now. Here's what I saw on the ground.
Web3 Builders' Summit: Speed is Everything
The pace is absolutely wild. Teams are going from idea to beta in two weeks flat. Not two months, not six weeks โ two weeks.
This isn't just startup hustle anymore; it's survival mode in the most competitive product landscape crypto has ever seen.
Key observations:
- Everyone's racing to ship, but also racing to find actual product-market fit
- Funding pressure is real โ next wave could dry up fast
- The days of raising on whitepapers are long gone
- Now it's all about traction, users, and real metrics
SuperVietnam in Danang: The Quiet Revolution
Danang caught me off guard. While everyone's been watching Thailand and Singapore, Vietnam has been quietly building serious blockchain infrastructure.
The numbers don't lie:
- Da Nang jumped 130 places in the 2025 Global Start-up Ecosystem Index
- That's not gradual progress โ that's rocket ship trajectory
- Tran Huyen Dinh (Chairman, Fintech Application Committee, Vietnam Blockchain Association) highlighted this as proof of strong digital economy strategies
The infrastructure play is smart:
- Da Nang Hi-Tech Park offers extended tax breaks
- Equipment import exemptions for high-tech investment
- Nguyen Thi Anh Thi (Vice Chairwoman, Da Nang People's Committee) outlined their strategy: tax exemptions, infrastructure support, controlled trials for new technologies
- They're basically building regulatory sandboxes before calling them that
What struck me most was the pragmatic approach. Vietnamese institutions aren't trying to reinvent the wheel; they're looking at what worked in other markets and adapting it locally.
The conversations I overheard between government officials and builders felt refreshingly productive, not adversarial.
This feels like the early Singapore playbook all over again.
Solana Summit APAC: Pivots and Realizations
The Solana event revealed something interesting about market maturity. Teams that started building DeFi protocols are quietly pivoting to enterprise solutions.
The numbers back this up: Coinbase reports that 60% of Fortune 500 companies are working on blockchain projects. That's not crypto Twitter hype โ that's boardroom reality.
Major shifts I noticed:
- Uniswap's move into custom enterprise tools isn't an outlier โ it's a trend
- VCs are burnt out on usual narratives: RWA, DePIN, AI crypto, gaming, memes
- Everyone's heard these pitches a thousand times
- But the enterprise pivot makes sense when you see the Fortune 500 adoption numbers
But here's the thing: the actual projects in these spaces are still getting built and funded.
Teams still pushing forward despite narrative fatigue:
- Inferix GPU
- Botanika
- Datagram Network
The consumer app experiments on new chains like Berachain and Sonic are where the real energy is. These aren't trying to be the next billion-dollar protocol; they're just trying to be useful.
The OG Comeback Tour
The OG projects are raising again:
- Rise Chain
- Orochi Network
- Names that felt dormant are suddenly back in fundraising mode
This isn't coincidence. There's institutional memory and battle-tested teams behind these projects that new VCs are starting to appreciate again.
Experience matters more than it has in years.
Key Takeaways
- Execution over everything: The idea phase is dead. Ship fast, iterate faster, or get left behind. Two-week cycles from concept to beta aren't ambitious anymore โ they're table stakes
- Geography matters again: Vietnam is positioning itself as the next major crypto hub while everyone's distracted elsewhere. The regulatory sandbox approach in Da Nang could become the blueprint everyone copies
- Narrative fatigue is real but selective: VCs may be tired of hearing about DePIN and RWA, but they're still funding the best teams in these spaces. Finding the right story at the right moment matters as much as the product itself
- Enterprise is the new DeFi: B2B solutions are quietly becoming the most sustainable business models in crypto. Fortune 500 adoption numbers don't lie โ this is where the real money is moving
- OG teams are back: Experience and proven execution are premium assets in this market. Battle-tested founders who survived previous cycles are getting premium valuations again
- Connections beat content: The main stage talks are impressive, but the real deals happen in hallway conversations. Everyone's hunting for that next connection or partnership that keeps their project alive
- Speed isn't just about building: It's about reading market signals, pivoting when narratives shift, and staying ahead of trend cycles. The teams that survive are the ones that can adapt faster than the market moves
What's Next
Globally:
- More enterprise pivots across the board
- Geographical diversification of crypto hubs
- Continued focus on real utility over token mechanics
- Markets with practical crypto regulation will capture next wave of institutional adoption
In Vietnam:
- Watch for major exchange launches
- More government partnerships incoming
- Vietnam potentially becoming the Southeast Asian crypto gateway that everyone expected Thailand to be
- Da Nang's regulatory sandbox approach could become the regional model
The hype cycle is dead. The build cycle is just getting started.
