The Korean Blockchain Week 2024 (KBW2024) is being spearheaded by Factblock and Hashed, two major organizations in the highly innovative South Korean market. A market that has somehow managed to remain isolated from the international blockchain industry. Both companies are rather well known in the internal market but make barely any headlines in the international news, which — luckily — doesn’t prevent them from hosting one of the must-visit crypto events of the year.

The funding for KBW primarily comes from a combination of corporate sponsorships and investments from blockchain firms and institutional partners, both domestic and international, who are interested in bridging the Korean and international markets, thus expanding their reach or making profitable investments.

Factblock: Help in Building and Promoting

Factblock was founded by Seonik Jeon in 2018 with a mission to bridge the gap between global blockchain enterprises and the Korean market.  The organization has become a broad-based ecosystem builder, offering advisory and event organization services, PR and media support, and community-building activities.

Simply put, Factblock promotes its customers, connects them with stakeholders and investors, helps startups expand their presence in the country and abroad, and uses KBW as its personal advertising stand. In 2024, Factblock is also launching Fablo, a Web3 community hub that might become an online substitute for KBW in terms of engaging 'guests' in Web3 projects, preferably guided by Factblock... and sponsored by Hashed.

Hashed: Help in Financing

Hashed, led by Simon Seo-Joon Kim, is one of Asia’s largest venture capital firms. It specializes in blockchain and cryptocurrency investments and builds a community of founders and investors through various initiatives and events. Founded in 2017, it reportedly manages around $700 million in assets globally. Based in Seoul and Silicon Valley, Hashed is now looking to expand its presence to the United Arab Emirates.

The firm has made several investments in notable international crypto projects, including Web3 game Axie Infinity, perpetual trading platform dYdX, one of NFT leaders Yuga Labs, Aptos L1, and Near protocol. One of the latest investments was in B3.fun, a gaming platform built by former Coinbase alumni. The company also invests in local projects, helping them to expand abroad.

"For the Korean startup, the mission to expand their business to abroad is quite mandatory because the biggest problem of Korea is our population is decreasing. But I believe that the talent-wise, the Korean entrepreneur is one of the best in the world, so we have to expand our business to abroad,” - told Kim in an interview.

Although the Korean domestic market has a positive stance on crypto, its peculiarities and limited size prevent crypto startups from developing, eventually pushing them to seek paths to the international market. Combining community-building expertise and strategic investments, Factblock and Hashed give companies a great opportunity to enhance their visibility and gain attention from the worldwide community through KBW and other initiatives. Both companies are minding their own interests, of course, attracting new customers and promoting the existing ones within the event.

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