The third Web3 Innovation Summit, co-hosted by LongHash Ventures, Yield Guild Games (YGG), and Kakarot, concluded successfully at the National Art Museum of Singapore on September 17, 2024. The one-day event brought together top experts in the industry to share knowledge and promote cooperation and innovation in the Web3 field.

The summit was held at the same time as TOKEN2049, where Vitalik Buterin further elaborated his views on Ethereum in the keynote speech and proposed three key transformations for future development. He said, 'Obviously, there are many other transformations, but I want to specifically follow three: the first is the Layer 2 expansion transformation, the second is the Wallet security transformation, and the third is the privacy transformation.' Vitalik reviewed, 'In 2022, people assumed that Ethereum was only Layer 1, and Layer 2 was only occasionally used, but since then we have seen tremendous progress.'

During the summit, Gabby Dizon also delivered a speech, introducing YGG's "future work plan", which is a project that trains artificial intelligence algorithms through gamification, aiming to bridge the gap between Web3 and artificial intelligence. The entire event was filled with enthusiastic participation from the audience, with exciting discussions taking place in various groups, and participants could also visit the booths set up by YGG and Kakarot.

LongHash Ventures founding partner Emma Cui said of the event, "Today's vitality and enthusiasm highlight the transformative potential of Web3 technology. The quality of the discussion and level of participation exceeded our expectations."

One of the highlights of the summit is the 'Spicy Takes' panel discussion, which encourages speakers to express their opinions boldly. If speakers shy away from controversial viewpoints, they will be given chili peppers to prompt more lively and candid discussions. Shi Khai Wei, partner at LongHash Ventures, emphasized the importance of this approach in his closing speech, stating, 'Spicy takes encourage us to bravely confront each other, helping us bring forth the best ideas.'

One of the controversial panel discussions explored the ultimate outcome of L2 expansion and posed a provocative question: 'Is L2 parasitic to Ethereum?' Eli Ben-Sasson, CEO and co-founder of Starknet, offered a nuanced perspective, stating, 'It's possible, but not all parasites kill the host. In fact, sometimes they make the host stronger.' Sandeep Nailwal, co-founder of Polygon, also candidly reflected, 'I wish I could go back and align less with Ethereum and follow the user experience more.'

Another highlight comes from Gabby Dizon, who introduced YGG's "future work plan" in the group discussion on the encryption incentive system. He compared the collaboration of game guilds with Web3, stating, "Encryption technology has turned life into a massive MMORPG (Massively Multiplayer Online Role-Playing Game). Life has always been like this, except now you can track your scores, achievements, and missions. Everyone is playing their own role-playing game, except here you only have one life, this is hardcore mode.

The summit also features thought-provoking audience questions, on-site interviews with organizers and partners, and debates on integration and the modular blockchain structure. Speakers have expressed different views on the future of blockchain architecture.

The organizers would like to thank all participants for creating an open and critical dialogue. The planning for the 2025 summit is already underway, and more groundbreaking discussions are expected. For more information and future updates, please visit:

About LongHash Ventures:

LongHash Ventures was founded in 2018 and focuses on promoting the development of the Web3 ecosystem. Our venture fund invests in early-stage Web3 protocols, while the LongHashX accelerator works with ecosystems and protocols to accelerate the growth of early-stage founders.

About Yield Guild Games:

Yield Guild Games (YGG) is a Web3 guild protocol that helps players and gaming guilds find their communities, explore games, and progress together. As a guild network focused on Web3 games, YGG provides a fair support system that enables its members to become strong players in both gaming and life. YGG enables guilds to scale and gain opportunities based on their expertise through its on-chain organized infrastructure. Through YGG's mission programs such as Super Tasks and Guild Advancement Program (GAP), YGG members can benefit from an achievement-based reputation system and build their on-chain identity.

YGG originated from the Philippines and has expanded to a global network, with regional guilds and partnerships with over 100 Web3 games and infrastructure projects, serving the growing community of gamers and blockchain enthusiasts.

About Kakarot:

Kakarot is an EVM-compatible ZK-Rollup, leveraging Cairo to drive innovation on the ETH network. Due to its architecture, Kakarot is the only zkEVM Rollup that can keep up with or even advance ETH network protocol upgrades. Kakarot zkEVM relies on the Starknet stack (CairoVM + StarknetOS runtime).

About Web3 Innovation Summit:

The Web3 Innovation Summit is held concurrently with Token2049 in Singapore, bringing together thought leaders in various fields such as Cross-Chain Interaction, scalability, modularity, zero-knowledge, re-delegation, gaming, social, and the intersection of Web3 and artificial intelligence. The summit lasts for one day and aims to inspire people's vision for the future of Web3.