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Gate.io Blog The Hong Kong Web3 Carnival is Coming, What Opportunities Should We Focus on?

The Hong Kong Web3 Carnival is Coming, What Opportunities Should We Focus on?

26 March 16:16

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![](https://gimg2.gateimg.com/image/article/1711440622rdzz.jpeg)
##  [TL；DR]
Recently, the Hong Kong Securities and Futures Commission has confirmed its readiness to accept applications for virtual asset spot ETFs, and some institutions have expressed their expectation that there will be clear news about Hong Kong <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs in the first half of the year. Therefore, it is worth looking forward to more progress on spot ETFs at this carnival event.

Some Hong Kong sector projects such as Conflux (CFX), Alchemy Pay (ACH), MANTRA (OM), SelfKey (KEY), <a href="/price/mask-network-mask" target="_blank" class="blog_inner_link">Mask Network</a> (MASK), and Linear Finance (LINA) are worth keeping an eye on.

## Introduction
Since the beginning of last year, the Hong Kong market has become the focus of attention for crypto investors.
The smooth launch of the US spot Bitcoin ETF undoubtedly further ignites public confidence in a more open Hong Kong market. Therefore, the upcoming Hong Kong Web3 Carnival will undoubtedly become an industry event of great concern for the crypto market. Here, we will briefly introduce this activity and potential related projects.

The highly anticipated "2024 Hong Kong Web3 Carnival" will be held from April 6 to April 9 for four consecutive days at the 3FG Hong Kong Convention and Exhibition Center.

This event will focus on the core issues in various fields of Web3 and invite industry leaders and representatives of popular and promising projects from around the world to share and explore cutting-edge technology solutions in Web3, thereby promoting innovation and development in this field.

It is worth mentioning that as an important leader in the industry, Gate.io will also host two of these important conferences and welcome attendees to participate in discussions and exchanges.

One event is the "Liquid 2024 Institutional Digital Asset Summit" held by Gate.io and LTP on April 5 from 09:00 to 16:30 (GMT+8), which will explore the development trajectory and future trends of institutional digital assets.
 ![](https://gimg2.gateimg.com/image/article/17114407491.jpeg)
Source: Public information
 
Another event is the "Future Fusion: AI Meets Blockchain" held by Gate.io and AWS on April 8th from 16:00 to 20:30 (GMT+8), which will focus on exploring the synergy between artificial intelligence and blockchain technology.

Next, we will introduce the projects that may have potential related opportunities to this carnival event in sequence.

## Bitcoin（BTC）
Since the approval of spot Bitcoin ETFs by the US SEC earlier this year, the entire crypto market has experienced a sharp surge, and at the same time, the market has begun to focus on Hong Kong's progress in this field.

As early as the end of 2022, the Southern Dongying Bitcoin Futures ETF and Southern Dongying Ether Futures ETF had already been listed on the Hong Kong Stock Exchange, becoming the first successful Bitcoin and Ether Futures ETFs to be listed in Asia; Samsung Bitcoin Futures Active ETF subsequently went public.

Currently, Hong Kong financial institutions are accelerating the layout of spot ETFs for Bitcoin. For example, on January 26 this year, Jia Shi International applied for a Bitcoin spot ETF to the Hong Kong Securities and Futures Commission.

Previously, the Hong Kong Securities Regulatory Commission also confirmed its readiness to accept applications for virtual asset spot ETFs, and some institutions have expressed their expectation that there will be clear information on the Hong Kong Bitcoin spot ETF in the first half of the year.

We will wait and see if there will be more progress on spot ETFs at this carnival.
## Conflux（CFX）
Conflux Network is a highly scalable decentralized blockchain network aimed at achieving excellent high throughput and fast transaction confirmation.

Its unique consensus algorithm is built on the tree graph, a special directed acyclic graph (DAG) structure, achieving innovation in blockchain technology.

Conflux Network won the Hong Kong Web3 Best Project Award last year, and its token CFX rose from the lowest of $0.0215 to the highest of $0.4876 in the first quarter of last year, indicating its popularity.
![](https://gimg2.gateimg.com/image/article/17114408052.jpeg)
Source: Gate.io
 
Recently, Conflux Network has proposed an innovative solution for EVM-compatible Bitcoin Layer 2 (BTC L2), and the mainnet is expected to be deployed in May.

Conflux will host and co-host one event each at this carnival. It is also worth considering whether the token CFX will perform positively before and after the event.
 
## Alchemy Pay（ACH）
The Singapore payment project Alchemy Pay is committed to building a payment bridge between fiat currencies and mainstream digital currencies. As a payment gateway for digital currencies, it has already undergone an in-depth layout in Hong Kong, showcasing a strong Hong Kong flavor.

Presently, Alchemy Pay officially supports multiple payment methods, such as Apple Pay, Google Pay, Visa, etc., to purchase cryptocurrency, allowing global users to use common currency to purchase crypto assets conveniently.

Alchemy Pay shared with ZD Group the Class 1, Class 4, and Class 9 Hong Kong financial service licenses issued by the CSRC last year, covering the fields of securities trading, securities consulting and asset management. Recently, it has integrated with Alipay Hong Kong to provide payment and purchase NFT functions for users in Hong Kong and Southeast Asia.
 ![](https://gimg2.gateimg.com/image/article/17114408273.jpeg)
Source: Gate.io
 
Alchemy Pay will participate in co-hosting the theme event "Oak Grove Crypto 2024" at this carnival.

ACH was the token in the Hong Kong sector that performed second only to Conflux last year, fully demonstrating the high recognition and expectations of the market for the Alchemy Pay project and its tokens. Recently, the strong rise in coin prices has approached historical highs.
 
## MANTRA（OM）
MANTRA (formerly MANTRA DAO) was established in 2020 and is a vertically integrated and compliant blockchain ecosystem.

MANTRA OMverse includes MANTRA nodes: a blockchain infrastructure as a service business that provides for retail staking, institutional delegation, node management, and white label validator operations; MANTRA Chain: Protocol for regulated assets in the Cosmos ecosystem; And MANTRA Finance: a global regulated DeFi platform.
 ![](https://gimg2.gateimg.com/image/article/17114408564.jpeg)
Source: Gate.io
 
The recent performance of token OM is also impressive.

## SelfKey（KEY）
SelfKey is an identity management platform developed by a Hong Kong team and built on the <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> blockchain. Its core objective is to ensure that individuals and businesses have absolute ownership of their data, documents, and digital assets.

Through SelfKey's technological architecture, user data no longer relies on traditional company or institutional storage but is securely stored in the user's digital wallet, achieving a return of data ownership and control.

SelfKey not only provides advanced technical solutions but also actively builds a popular market platform in the Chinese Mainland.
 ![](https://gimg2.gateimg.com/image/article/17114409635.jpeg)
Source: Gate.io
 
This platform not only provides users with convenient identity management services but also achieves secure storage and efficient utilization of identity information through blockchain technology. This identity information can be applied to diverse scenarios, such as citizen identity recognition and commercial services, providing great convenience for users' daily lives and work.
## Mask Network（MASK）
Mask Network is a social networking application designed to connect Web2 and Web3, enabling users to better utilize the network without centralized ownership.

The important functions of this platform include finance and e-commerce, where users can make payments, trade tokens, borrow and lend, and follow excellent transactions.
 ![](https://gimg2.gateimg.com/image/article/17114409386.jpeg)
Source: Gate.io
 
The price trend of Mask Network (MASK) coins, known as "Little Tencent in the crypto space," is relatively weak, but it is also worth paying attention to.
## Linear Finance（LINA）
Linear Finance was developed by a Hong Kong team in 2020 and is a cross-chain compatible synthetic asset protocol on the <a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a> Chain, allowing users to obtain synthetic risk exposures for various assets, including cryptocurrencies, commodities, and market indices.
 ![](https://gimg2.gateimg.com/image/article/17114409177.jpeg)
Source: Gate.io
 
Linear Finance has recently released version 2.0, which adds a staked currency that supports stablecoin generation, simplifies asset trading and debt creation, and will upgrade cross-chain bridges and expand synthetic asset lists.
## To Sum Up
The Hong Kong Web3 Carnival will gather professionals from various sectors in the blockchain industry to discuss topics related to AI, DePIN, Metaverse, Games, payments, and more. Some related concepts, especially local project tokens in Hong Kong, may be hyped up. Investors should pay attention to timing and avoid the risks brought by FOMO.

Gate.io will also fully assist in the smooth holding of this summit. For more insightful insights on the event, please keep an eye on official and Gate.io-related information in a timely manner.

<div class="blog-details-info">
<div>Author:**SCarl Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

BTC/USDT -1.39%

ETH/USDT -1.04%

GT/USDT + 0.47%

TL；DR

Introduction

Bitcoin（BTC）

Conflux（CFX）

Alchemy Pay（ACH）

MANTRA（OM）

SelfKey（KEY）

Mask Network（MASK）

Linear Finance（LINA）