As we unveil the 2023 report for ScalingX, it’s evident that this year has served as a testament to our commitment to empowering the development and growth of blockchain applications. 2023 was a year marked by rich collaborations and pivotal developments within the Web3 space — a journey characterized by significant strides despite the challenges in the industry.

Our growth transcended mere numbers or metrics; it manifested as a tangible impact. As we reflect on the past twelve months, we invite you to explore the depths of our journey with us.

In 2023, ScalingX left its mark in 11 cities worldwide, including Singapore, Hong Kong, Seoul, Istanbul, and more, establishing a truly global presence by participating in an impressive total of 65 events, both physical and virtual, throughout the year. Actively contributing to local Web3 events as sponsors, speakers, and often taking charge as hosts or co-hosts for side events, meetups, afterparties, workshops, Twitter Spaces etc. We work to lower the barrier to entry for the world’s most talented developers and entrepreneurs because we are confident that by assembling the top minds in the industry into a single community, we can significantly accelerate the advancement of blockchain technology today.

ScalingX has also been a staunch supporter of various blockchain ecosystems and foundations such as Polygon, StarkNet, and Ethereum Singapore. Actively participating in in-person events and contributing as speakers, we are dedicated to fostering the growth and advancement of the broader Web3 community.

One of the most remarkable events we hosted in 2023 was the ‘Beyond Scaling’ Afterparty during the Token2049 and F1 week at SKAI, Swissotel The Stamford, Singapore. This gathering drew over 400 participants, and we were privileged to welcome industry luminaries from Outlier Ventures, DWF Labs, Skybridge Capital, Hack VC, and Worldcoin for an insightful panel discussion. More than just a fun-filled party, the night was characterized by meaningful conversations and the forging of new strategic partnerships, fostering a collaborative spirit to build a diverse and vibrant ecosystem.

Besides that, ScalingX marked a milestone with its first virtual hackathon, “The Hunt For X”, hosted on the Buidlbox platform. Running from April 12th to May 10th, the three-week event explored various aspects of Zero-Knowledge Proof (ZKP) technology in the Web3 ecosystem. Participants showcased their skills, and contributed to privacy-enhancing advancements in blockchain.

With challenges in decentralized finance (DeFi) and identity management, the hackathon offered a $40,500 prize pool. Industry leaders from ConsenSys, Coinbase, p0x Labs, and other experts served as mentors and judges, evaluating the 77 projects submitted by 203 participants worldwide.

The successful event culminated in a Demo Day featuring 15 standout projects. Attended by venture capital firms like LongHash Ventures, OP Crypto, and Sharding Capital, as well as media outlets PANews and Coinlive, it became a vibrant hub for Web3 collaboration and innovation.

In addition to physical events, ScalingX also actively hosts engaging Twitter Spaces, fostering community growth and expanding our brand's global reach. This year, we hosted 22 dynamic Twitter Spaces, featuring insights from 40 industry experts within our network such as Marouen Zelleg from Polygon, Brian Fu from zkLend, Ryan Ang from Greythorn Asset Management etc. These spaces have become a central hub of interaction, drawing an impressive audience of over 25,000 participants. Simultaneously, we participated in 8 spaces hosted by prominent projects such as Blockchain Academy and PANews. These discussions, enriched by industry luminaries, delve into cutting-edge topics, fostering a vibrant environment for the Web3 community. ScalingX remains steadfast in our commitment to shape the narrative of Web3, providing a platform for knowledge-sharing and sparking insights that drive the community towards new technological frontiers.

In September 2023, ScalingX has launched a new initiative — ‘Transcend Beyond’ global accelerator alliance at the ‘Beyond Scaling’ Afterparty event. This visionary initiative aims to forge a robust nexus, linking up potential Web3 startups, regional incubators, and our expansive global accelerator network. We firmly believe that while startup networking and community development often flourish in their geographical origins, transcending local boundaries necessitates exposure to unfamiliar environments. This exposure encompasses participation in renowned global events, access to public relations opportunities, support from accelerators beyond their region, a wealth of diverse insights from various experts and mentors, and more.

As of today, the initiative proudly boasts 16 accelerator network partners, spanning venture capitals, accelerators, and media entities. Notable mentions include Outlier Venture, ConsenSys, Sharding Capital, Blockchain Academy, LongHash Ventures, and more.

Throughout the year, we've strategically invested in 10 promising Web3 projects, with a primary focus on the Zero Knowledge technology narrative. Here is our list of 10 outstanding projects, presented in no particular order, each showcasing exceptional quality:

Beyond financial investments, ScalingX engages actively in discussions with Hong Kong's legislative authorities, championing the need for clear regulations and cooperative frameworks in the evolving sphere of Web3. Simultaneously, we reinforce our trailblazing status as a Worldcoin Orb operator in Singapore, playing a crucial role in nurturing the growth of the Worldcoin (WLD) ecosystem.

ScalingX has successfully met various year-end objectives and achieved additional milestones, highlighted by the success of Transcend Beyond and significant investments in promising startups.

With strong belief in the vast potential of Zero-Knowledge (ZK) technology, ScalingX foresees it as a driving force in revolutionizing Web3 infrastructure. Looking ahead, the focus expands to include emerging narratives like the BRC20 ecosystem, Layer 2 solutions, and decentralized finance (DeFi). In this dynamic era of Web3, brimming with both opportunities and challenges, ScalingX stays dedicated to contributing to the ongoing evolution of the blockchain landscape.

— Chichi Hong, Co-Founder of ScalingX

For a more in-depth perspective on ScalingX’s 2023 annual report, delve into the details here.

As we wrap up our reflections on 2023, our hearts are brimming with gratitude for our dedicated team, invaluable partners, and the ever-supportive ScalingX community. Your unwavering support and collaborative spirit have been the bedrock of our journey throughout the year. Standing on the cusp of 2024, our motivation is at an all-time high, propelling us to achieve new milestones and fortify our commitment in this dynamic sector.

We are excited to unveil fresh strategies aimed at enhancing our growth and solidifying our presence in key locations, including Hong Kong, Singapore, San Francisco, and exploring potential expansion into Dubai and European territories like Spain.

Anticipating a year of even greater achievements, we are geared up to break new ground and broaden our horizons. To everyone who has been part of our narrative in the past year, thank you for accompanying us on this remarkable journey. Let’s stride into 2024 with renewed energy and a shared vision, to make it yet another year of exceptional success. Happy New Year to everyone — here’s to soaring to new heights and extraordinary accomplishments!

About ScalingX

ScalingX is a global accelerator across Singapore, Hong Kong and San Francisco dedicated to the development of Web3 and blockchain technologies, with a focus on Zero-Knowledge Proof (ZKP) technology. Our goal is to advance the adoption of blockchain technology around the world through investments. We support early-stage Web3 startups by helping them with talent recruitment, networking, fundraising, project incubation, PR and branding, community building, and more. We are fully committed to building a more scalable, transparent, secure, and decentralized network of tomorrow.

Website: https://www.scalingx.xyz/

Github: https://github.com/scalingx/

Twitter: https://twitter.com/scaling_x

Telegram: https://t.me/scalingx

[email protected]