Please tell us your thoughts on the outlook for the Web 3.0 field in 2025.
Kensuke Amo (hereinafter, Amo): First of all, I am focusing on DePIN (Decentralized Physical Infrastructure Network). Since blockchain is only a means to develop a business related to Web 3.0, I think it will be difficult to proceed unless the project can clearly find a reason to use tokens.
Among them, I have the impression that many DePIN projects use tokens and have clear utility. The Web 3.0 field is an area that is greatly affected by the market cycle of crypto assets, so Animoca Brands Japan plans to proceed with a strategy that takes this into consideration.
There are also various movements being seen in Japan at the moment. One example is "Mini Dapp" by LINE. This is a movement based on the Telegram mini app, which attracted a lot of attention last year, and I think it will continue to attract attention in the future.
I am also paying attention to movements related to regulations in Japan. Currently, discussions are being held regarding intermediary licenses in addition to licenses for crypto asset exchange operators. The brokerage license is likely to be established as early as the second half of this year, which will lead to an increase in new companies entering the market, and this could lead to changes in the industry's power structure.
In addition, there is currently discussion about how cryptocurrencies should be handled in Japan, such as whether they should be regulated under the current Payment Services Act or whether they should be changed to apply the Financial Instruments and Exchange Act. This includes making tokens that have raised funds domestically, such as through IEOs, subject to separate taxation, which may become a reality. We will continue to keep a close eye on these developments.
Mr. Amo, you were appointed Representative Director and CEO in December of last year. What was the background to this personnel change?