The New Generation of Blockchain-Based Community Incubator
After getting into the blockchain space for a while, we have noticed that there are 2 major critical issues in this space;
Firstly, there is an exceptionally high failure rate of blockchain projects
And second, how do we validate the credibility of this projects?
Based on a study conducted in 2017, 92% of the 26,000 blockchain projects introduced in 2016 failed! That means that if you were to invest your money in all these ICOs, your chances of success is only 8%! I bet roulette or blackjack has better odds than that.
I’ve also noticed that there are very good projects led by very good teams, and yet they fail. Why?
Of course, there are many elements and factors that contribute to a successful blockchain project. However, we noticed that one key element that contributed to the failure of good blockchain projects is the lack of real fundamentals or ‘tokenomics’ as there’s a mismatch between the planned utility of the issued tokens and it’s application in its projects with real-world usage parameters.
With no global recognized gold standards for accurate and credible information disclosure practices for blockchain projects, we have built a team called Wemerge Ventures to create an ecosystem that combines the best of blockchain and business into a single Decentralized Autonomous Community to support start-ups or early-stage blockchain-related projects to assist them to execute their blockchain implementations and token issues through our global community of beta testers to make up it’s initial user base as well as validation for real-world application.
Wemerge aims to create a community to ensure that the best blockchain projects have lasting power to make tangible progress and all our community members will be able to focus our efforts in the best projects with strong tokenomics.
Due to the nature of blockchain, we have set up organizations and partnerships all around the globe which at the moment includes the United States, China, India, Lithuania, Australia, Singapore, and Malaysia.
Yours truly, Jonathan Quek, was honored to be appointed as the Venture Partner for Wemerge Ventures for South East Asia region. With this, my team and I was involved with the launch of Wemerge in Kuala Lumpur on 10th March.
As Malaysia is a very young community in the blockchain world, we were wondering if we could pull off an event with only 2 weeks timeline.
Little did we realize, after posting on Facebook, there was an avalanche of inquiries about our event and we got a full house 500 pax event!
This was the first ever public launch of Wemerge as we announced the Managing Partners, Venture Partners and Advisors who are currently involved with Wemerge Ventures.
As the venture partner for South East Asia region, I’ll be working closely with other venture partners in China, India and the United States to source and approve blockchain projects, lead the incubator and accelerator programs, and host education programs to propagate the blockchain community in this region. This marks one interesting milestone in my career and I’m truly excited to take on this new challenge.
Being an educator and investor for most of my career days, I’m passionate about this mission to accelerate the adoption of this amazing technology for real-world application with the power of our blockchain-based community incubator.
During this event, I also had the opportunity to communicate with our partners from China who have given me their in-depth insights into blockchain applications in China.
It’s going to be an exciting journey ahead and I look forward to meeting the global partners soon in our next launch in New Delhi, India!