Title: CrossAngle Releases Comprehensive Report on Indonesia’s Web3 Market
CrossAngle, the operator of the crypto data intelligence platform Xangle, has collaborated with Tiger Research, an Asian Web3 market consulting firm, to release “The Giant of Southeast Asia, Indonesia Web3 Market Report.” This joint report aims to provide a detailed understanding of the unique structure and potential of Indonesia’s Web3 market.
Overview of the Indonesian Web3 Market:
The report covers various key topics including an overview of the Indonesian Web3 market, the country’s Web3 infrastructure ecosystem, cryptocurrency exchanges, and the Indonesian NFT market. According to the report, Indonesia has a vibrant cryptocurrency exchange market with over 30 operational exchanges. This market caters to approximately 10 million crypto customers, which accounts for about 4% of the Indonesian population. The number of crypto investors is comparable to those participating in the traditional stock exchange.
Challenges in the Indonesian NFT Market:
While the cryptocurrency exchange market in Indonesia is thriving, the NFT market is currently facing challenges due to the recent market downturn. Local marketplaces have struggled to gain substantial traction. Additionally, the developer ecosystem in Indonesia is relatively modest, with many unicorns outsourcing development work overseas.
Untapped Potential and Favorable Environment:
Despite the challenges, the research team behind the joint report believes that Indonesia’s Web3 market possesses significant untapped potential. With a population of over 270 million, a young and engaged demographic, and a backdrop of political stability, Indonesia presents a promising landscape for Web3 technologies. The Indonesian government has also shown a favorable stance towards the Web3 industry, introducing incentives to foster its growth and establishing a dedicated committee for the blockchain sector under the Indonesia Financial Services Authority.
On-the-Ground Research for Real-Life Perspectives:
The “Indonesia Web3 Market Analysis” report is the result of a week-long research expedition to Indonesia. The research team conducted in-person interviews with local experts and entrepreneurs, gathering real-life perspectives that enhance the practical value of the report. By incorporating these on-the-ground interactions, the report provides not only precise data but also valuable insights for businesses and investors interested in Indonesia’s Web3 market.
Accessing the Report:
The complete report is available for reference on both Xangle’s website and Tiger Research’s website. Interested parties can access the report to gain a comprehensive understanding of Indonesia’s Web3 market and its potential for growth.
CrossAngle’s collaboration with Tiger Research has resulted in an informative report that sheds light on Indonesia’s Web3 market. Despite challenges in the NFT market and the modest developer ecosystem, Indonesia’s Web3 industry holds significant potential due to its large population, engaged demographic, and supportive government policies. With the release of this report, businesses and investors can gain valuable insights into this promising market.