How Web3 Projects Can Enter and Integrate into the Japanese Market 2023
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How Web3 Projects Can Enter and Integrate into the Japanese Market 2023
For projects and professionals seeking to深耕 and grow within the Web3 ecosystem, Japan undoubtedly offers significant appeal.
Navigating Web3 tides with focused insightsAuthor: Meteorite Labs, Aki Network
Japan, a country with a population of 120 million, had grown its local crypto asset accounts to 6.4 million by the end of 2022, according to a report from third-party data platform Statista. Given Japan's clear regulatory framework, strong purchasing power, and high user loyalty, the market holds significant appeal for projects and professionals seeking to establish and grow within the Web3 ecosystem.
A Market of High Loyalty
When analyzing the uniqueness and trends of Japan’s Web3 market, two key factors stand out: a compliant regulatory environment and a uniquely Japanese sense of community belonging. Together, these elements foster a high degree of product loyalty among Japanese crypto users. Once Japanese users commit to a specific cryptocurrency or project, they tend to maintain long-term interest and engagement. Meteorite Labs has personally observed this market trait across numerous past projects and investments. Take StepN as an example—Meteorite Labs was an early investor in StepN and actively supported its operations in Japan. In the project’s early stages, 300 out of the initial 800 community members were from Japan. To this day, Japanese users still account for 20–30% of StepN’s community.
Strong Purchasing Power
According to data from the official website of the CIA, Japan ranks fourth globally in terms of market purchasing power, despite ranking only 11th in population size—indicating a notably high average purchasing power among Japanese consumers. Following Meteorite Labs’ early strategic investment in Fusionist, the project team revealed that Japanese users make up 30% of their entire community.
Private Traffic Operations – Family & Friendship-Based Community Expansion Model
Trust is highly valued in Japanese society. Once trust is established, many Japanese users—and their friends and family—are more likely to adopt a product or service. Because of this emphasis on trust, a common purchasing pattern originates from personal social networks. This includes a viral adoption model emerging within private circles such as families, friend groups, and clubs. When one family member or acquaintance starts using a product or service, others often follow suit.
Years of experience operating in Japan have taught us that consistent, high-frequency offline events and ambassador meetups are crucial for cultivating long-term, stable customer relationships. As a society that values belonging, Japanese people—from university through professional life—actively join various communities and clubs to build connections, share interests, and affirm their identities. For this reason, Meteorite Labs places strong emphasis on offline engagement when helping projects operate in Japan. As an early investor in Mahjong Meta, Meteorite Labs helped the project open a physical mahjong parlor in Shibuya, enabling full integration from Web2 to Web3.
Effective Web3 Market Operations in Japan
At the strategic and market positioning level, it is essential to deeply understand and adapt to the Japanese market. Achieving success in Japan requires profound knowledge of Japanese culture and consumer behavior—including insights into purchasing habits, product selection criteria, and decision-making processes. Additionally, building trust with users is critical, as loyal, long-term product usage is more likely to emerge from trusted relationships.
In terms of product design, user experience and product quality must be prioritized. Japanese users hold extremely high standards for product quality—not only in functionality and usability, but also in stability and security. Moreover, Japanese users show greater preference for products offering localized services, such as Japanese-language interfaces and customer support tailored to Japanese expectations. Delivering high-quality, user-friendly products and services is therefore a key step toward deeper market penetration in Japan.
In marketing and promotion, enhancing interaction and connection with users is vital. Japanese users exhibit high loyalty and prefer deep engagement and relationship-building with brands. This can be achieved through social media, community events, and direct communication. Projects can also leverage tools and solutions to effectively reach influential Japanese KOLs with strong community influence, significantly amplifying brand outreach. Aki Network, incubated and invested in early by Meteorite Labs, empowers Web3 projects to achieve genuine, deep interactions with users. This process not only helps projects better understand user needs and expectations and resolve issues through transparent communication, but also strengthens users’ sense of belonging and brand loyalty.
Leveraging Local Market Resources
Establishing close ties with major enterprises and incubators in Japan is highly significant for Web3 projects. Such partnerships can aid in fundraising and provide access to unique local resources.
Partnering with well-known Japanese companies: brings substantial advantages. It enhances credibility and trust while providing access to the partner’s existing customer base and distribution channels. Joint marketing initiatives and cross-industry collaborations can expand a project’s visibility and impact.
Collaborating with local incubators and accelerators: offers valuable support and resources to Web3 projects. These organizations typically provide mentorship, networking opportunities, funding, and infrastructure to help startups grow. By participating in their programs, projects can tap into their networks and gain insights and guidance from seasoned professionals.
Engaging local communities and KOLs: can greatly boost a project’s visibility and user adoption. Actively participating in community events, meetups, and conferences helps build connections with like-minded individuals and potential users. Collaborating with influencers who have strong followings in Japan can promote the project and expand its user base.
Customization for the Japanese market: is crucial—products or services should be tailored to meet the specific needs and preferences of Japanese users. This includes offering localized content, Japanese-language user interfaces, and features aligned with Japanese cultural norms and consumer behaviors. Focusing on user experience and ensuring high product quality helps build trust and loyalty among Japanese users.
About Meteorite Labs:
Meteorite Labs is a cryptocurrency fund deeply engaged in the Web3 industry, with extensive experience and broad network connections in Asia, particularly in Japan. Our multidisciplinary team brings together expertise in investment, marketing, mathematics, data analysis, art, gaming, and law.
Through in-depth research, investigation, and data analysis, we invest in venture capital and liquid opportunities within the blockchain space. We actively evaluate blockchain projects and ecosystems, focusing on those that bring positive values into the Web3-driven economy and experiences, and bridge the gaps between them.
Our goal is to support innovative and high-potential projects, delivering profitable opportunities for investors. We work closely with project teams, providing support in funding, marketing strategy, and business development. We believe that through collaboration, we can collectively drive the growth and prosperity of the Web3 ecosystem.
About Aki Network:
Aki Network is the first Web3 growth platform that uses on-chain data to track the real promotional performance of crypto KOLs. Since its launch in July 2022, Aki Network has rapidly expanded, collaborating with over 200 projects and connecting through more than 2,400 web influencers and 310,000 community members via over 303,000 successful user referrals.
Aki Network’s data-driven influencer marketing approach, combined with its robust network of influencers and community members, makes it an indispensable industry asset for businesses aiming to grow in the Web3 space.
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