This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The Madeira Blockchain Conference recently took place in Funchal, Portugal, with the aim of promoting networking and discussions around the use of blockchain technology to solve real-world problems. The event attracted the local tech community and featured key takeaways that shed light on the current state of blockchain adoption.
One interesting takeaway from the conference is that traditional gaming studios are quietly embracing blockchain technology. However, these studios are avoiding buzzwords associated with Web3, as they have faced backlash from players and developers. Redcatpig, a game studio, highlighted the challenges of integrating blockchain features into their games and emphasized the importance of focusing on the benefits for players rather than using technical jargon.
Another important topic discussed at the conference was the fundraising strategies for startups. Startups were advised to have a clear strategy in place when seeking investors and to consider factors such as lockup periods, vesting, and carry. It was also noted that not every project needs a token, and founders should carefully consider whether they are building a technology demonstration or a viable company.
Madeira, the host location of the conference, is actively supporting startups by offering key incentives. The region has a free trade zone that provides tax benefits, including one of the lowest corporate tax rates in the European Union and a capital gains tax exemption. Madeira is also developing a payment network using blockchain technology to facilitate currency exchange for tourists and optimize government operations.
In conclusion, the Madeira Blockchain Conference highlighted the growing adoption of blockchain technology in various industries, including gaming and startups. The event emphasized the importance of focusing on user benefits rather than buzzwords and provided insights into fundraising strategies and the support available for startups in Madeira.