Jeff Ren from OKX Ventures drops hints about upcoming news connected to the metaverse.

In a recent discussion at the Hong Kong Web3 Festival, CEO Danil Myakin spoke with Jeff Ren, a partner at OKX Ventures. Ren's career has a rich background as a lawyer and his work includes roles in investment banking and asset management. Presently, he oversees OKX Ventures, which focuses on advancing the company's strategic pursuits in the web3 realm. OKX OKX is currently in the midst of consolidating its various exchange brands under the OKX name. Ren articulates that OKX aims to serve as a comprehensive marketplace for all things crypto, including plans to create a digital space where users can engage with various digital goods, assets, and artwork. Myakin and Ren cover a range of subjects pertinent to web3, such as regulations impacting the crypto market, Ren's views on the metaverse, and his aspirations regarding the role of AI in benefiting humanity.

Danil Myakin: Can you share a bit about yourself and the OKX Group?

Jeff Ren: The OKX Group is renowned as one of the longest-standing and most reputable crypto exchanges in existence. We've just unveiled an MPC wallet that has received significant recognition. Once users connect their wallets, they can seamlessly access different cross-chain bridges. We’ve designed an easy-to-use, one-click cross-chain gateway for navigating various decentralized applications and NFTs. Additionally, under OKG Group, we provide OKlink.com, our on-chain data platform, which is user-friendly and straightforward. 

Currently, our goal is to unify everything under the banner of OKX, borrowing the idea from X.com, Musk's first startup, to represent a universal marketplace.

As we delve into this conversation, we cannot overlook the current market dynamics. The financial landscape is experiencing notable instability, particularly within the banking system. Meanwhile, both Bitcoin and Ethereum have shown remarkable upward trends in their prices. What are your projections for the market? How do you foresee its evolution?

Absolutely, price trends are a significant indicator of the market's health. This is a constantly evolving global market, making it difficult to rely on other indicators apart from price movements. However, in the realm of cryptocurrency, it’s crucial to pay attention to the emergence of new players, innovative builders, and engaged market participants with active wallets. By analyzing various metrics, we can form a comprehensive perspective; relying solely on price fluctuations can be quite simplistic and risky.

The financial maturation of digital assets is unavoidable. We have products like GBTC and various ETFs stemming from that trend. Generally, financial products in the market should act as a true reflection of the performance of underlying assets, aiming to reveal genuine value while filtering out speculation. Unfortunately, the existing circumstances have created a trust deficit between regulators and the creators of financial products.

When discussing these topics, it’s vital to clarify for 'investors' or traders that they should distinguish between crypto assets in tokens, coins, and other derivative financial products, particularly in terms of associated risks and benefits. While we see the value in regulations, we hope that regulators will grasp the nuances of what we're addressing.

During a panel discussion, I shared my thoughts on the regulation of DeFi, questioning whether certain regulators aim to govern the protocols, the developers, the end users, or the tokens that facilitate operations. I believe specificity is crucial so that true builders and investors can respond intelligently.

A Dialogue on the Future of Crypto, the Metaverse, and AI with HashKey Capital’s Investment Director, Xiao Xiao.

Read: I’ve long heard that institutional investors are on the verge of entering the crypto space. Yet, every year, this sentiment seems to resurface. However, this year seems different; we’re witnessing meaningful changes due to various financial and political factors, with more people— including institutional investors— showing a willingness to embrace risk. What are your thoughts on crypto adoption? What key benchmarks do you think we need to reach to ensure its success?

Throughout each new innovation cycle, there are always visionaries, builders, speculators, and those who prefer to spur speculation. It's vital to create sufficient incentives, particularly involving tokens that motivate blockchain activity. Ideas for mass adoption have circulated for years, leading to a sort of weariness around the topic.

We often emphasize use cases, yet what frequently gets overlooked is whether we truly have functional tools at our disposal. Furthermore, transitioning from web2 to web3 involves a shift toward platforms that minimize friction. Users should not have to choose between options A or B; instead, they ought to experience seamless interactions where the blockchain’s benefits speak for themselves. The goal is for individuals to feel that solutions are genuinely addressing their challenges.

Two critical areas to address are security and custody. There's a belief that regulations should provide protection when problems arise. Unfortunately, this often results in a misconception among the public: that regulated means safe. However, when issues do happen, they usually stem from the actions of malicious entities, and they shouldn't deflect the responsibility back on the broader crypto industry. This blame game feels profoundly unfair.

I've encountered many friends who are keen to introduce their children and university students to the crypto world, seeking understanding through summer internships or projects. They used to approach it with caution, advising familiarity in a way similar to gaming— enjoyable yet hands-off. Now, however, there’s a genuine curiosity among the youth. This reflects a long trajectory toward mass adoption, particularly evident through the rise of blockchain clubs becoming popular hubs in universities.

With your position at OKX Ventures, you're immersed in numerous startups and emerging trends. What do you perceive to be the hottest topics and niches within

The ongoing conversations around Web3 continuously revolve around how to enhance the cost efficiency of on-chain activities and improve user protection. This focus hasn't wavered. What excites me about the current innovator landscape is their agility in responding to emerging blockchain trends. Back in 2019, during the Dragonfly conference in Beijing, conversation revolved around SDKs, and while initial discussions were challenging, builders today are effectively embracing and articulating these advancements. web3 startups?

There are numerous ‘hot projects’ attracting a myriad of participants. Unfortunately, success often doesn't favor early movers; rather, it's often a matter of luck. As we work to identify potential winners, we maintain an open dialogue with all participants, treating them as friends. Our portfolio doesn’t enforce strict biases; we continue to focus on crafting web3 products and technologies, making them more accessible to all builders.

In past years, projects primarily sought listings, fixating on generating liquidity and hype. Exchanges competed for early users, but that narrative has shifted significantly.

It's essential to reconsider how you engage with exchanges and navigate new projects. We see OKX Ventures as a crucial connector within the ecosystem. The exchange business demands transparency and is heavily competitive, yielding no clear victors. Instead of setting a benchmark for user activity or transaction volumes, why not offer projects tools that support proving their value to their communities? This could pave the way for more constructive building practices, and we’re still learning.

Indeed, the exchange sector is a challenging one. While identifying a definitive winner is tough, the distinction for losers is glaringly clear. Given that we are Metaverse Post, I cannot miss the opportunity to ask: How do you define the metaverse?

Initially, discussions around the metaverse focused on various entry points or terminals for accessing it. The idea of defining *what* the metaverse is can be subjective; rather, what matters are the approaches we envision— VR and blockchain, along with gaming and other aspects connecting to this concept.

Jeff Ren, a partner at OKX Ventures, recently hinted at some exciting developments related to the metaverse during a conversation with Metaverse Post, showcasing the future potential of this innovative space.

During an engaging discussion at the Hong Kong Web3 Festival, CEO Danil Myakin had the opportunity to meet Jeff Ren, a partner at OKX Ventures. Ren's background is quite varied; he initially trained as a lawyer and gained valuable experience in investment banking and asset management. Currently, he leads OKX Ventures, which serves as the investment wing of the company, focusing on strategic web3 initiatives.

Ren's insights into future announcements concerning the metaverse at OKX Ventures have sparked interest across the industry.

The FTC has recently faced a setback, losing its appeal to prevent the merger between Microsoft and Activision, marking a significant development in the ongoing narrative of corporate acquisitions in the gaming sphere.

This article was published on April 24, 2023, at 9:10 AM and has been updated on the same date at 10:03 AM, presenting fresh, timely information.

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During his chat at the Hong Kong Web3 Festival, CEO Danil Myakin talked with Jeff Ren about his diverse professional journey, which includes a legal background and significant roles in investment banking and asset management. Now, as the head of OKX Ventures, Ren is at the forefront of pushing the company's web3 strategies and investments.

As part of a larger unification initiative, OKX is streamlining its various exchange brands into a single entity, known simply as OKX. Ren describes this as the ultimate platform for all things digital, aiming to create a comprehensive marketplace for digital goods, assets, and art. Throughout the conversation, topics such as market regulation, Ren's outlook on the metaverse, and the role of AI in improving humanity are examined.

Danil Myakin: Can you share a bit more about your background and the mission of OKX Group?

Read more:

• Jeff Ren: OKX Group has established itself as one of the most reputable and long-standing crypto exchanges in the market. We’ve recently rolled out a highly praised MPC wallet that offers users seamless cross-chain connections. Utilizing this wallet allows for effortless access to various dApps and NFTs with a single click. Additionally, we offer OKlink.com, a user-friendly on-chain data platform designed for convenience.
• Our vision is to bring everything under the OKX brand, where 'X' symbolizes the concept originated from Musk's initial venture, providing a vast marketplace for digital services.
• We can't overlook the current market trends. The financial markets, particularly in the banking sector, are experiencing notable instability, yet at the same time, Bitcoin and Ethereum are trending upwards. What are your thoughts on the market outlook? How do you envision its trajectory?
• Top 10 Crypto Exchanges in Japan in 2023
• Naturally, price trends are crucial indicators in this 24/7 global marketplace. It's challenging to gauge market health through any other metrics beyond pricing. However, in the realm of crypto, it’s essential to also consider the emergence of new players, innovative creators, and active wallet users. Assessing a variety of statistics is vital to forming an accurate market view, rather than relying solely on price fluctuations, which can be misleading.