Crypto Has Lost The Plot With Events

If you RSVP’d for an event, is it reasonable to then have to wait in a long line just to get in? What went wrong at Breakpoint and Token 2024 highlights the issue of Web3 losing its plot with events.

Solana Breakpoint in Singapore was an “exotic” experience for anyone who attended — not just because it took place in the tropical landscape of Singapore, but also due to the exotic dancer party hosted by Iggy Azalea. Web3 natives awkwardly threw money at the dancers. With a few delusion pills, could this be seen as building clients’ portfolios by throwing racks of money?

In reality, an event like this signals that Web3 is still the court jester of industries. Other industries hold serious events where clothes remain on during networking. Web3 has been battling allegations of unprofessionalism — and it’s losing.

Regardless of claims that crypto is dead after recent market crashes, Breakpoint showed that blockchain technology is continuing to advance. Anyone familiar with organizing multiple events knows how difficult it is to get people to sign up, let alone attend. Yet, there was overwhelming interest in events at Breakpoint, like the OKX and Bearachain Token 2049 event.

People stood in a ridiculously long line around the Marina Bay Sands resort. The event had 9,000 signups, but the Marquee Nightclub inside the resort could only hold around 3,000 people. This was poor organizing on the part of Bearachain and OKX. Simple barriers used in other industries to manage access weren’t applied here. In Web3, everyone feels entitled to enter any space, which explains why natives still waited in line, hoping to get in despite the huge crowd.

Token 2049 hosted nearly 800 events over a week. Plenty of options exist, but the sheer quantity risks diluting the quality. Events need a purpose to have real value. Design is nothing without function — so how great can events be if they lack a clear objective?

But what if the objective is fun? Breakpoint might have transcended this duality by offering both fun and technical events. Solana showcased a new validator client called Firedancer, built by asking whether a computer could process faster than the speed of light. The launch of the Solana Phone 2 was also announced.

While Ethereum events tend to focus on the technical side, Solana mixes technicality with more relaxed gatherings. Either approach could be optimized by addressing organizational errors, much like Firedancer is solving blockchain scalability issues.

Web3 is like a patient revived from the brink of death — it needs care and attention to avoid flatlining again. Should Web3 continue with its drinking culture after receiving a liver transplant? The “work hard, play hard” mentality exists in all industries, but Web3 leans heavily toward play. Without the technical showcases at Breakpoint, the event would have felt like a private frat party.

We at Guava have the remedy to keep Web3’s revival going with event marketing that works. With the precision of a surgeon, Guava pinpoints the purpose and goals of events beyond clout and drama.

Crypto emerged by recognizing the ironies of modern banking and offering solutions to fix them. Other industries take themselves too seriously, while Web3 doesn’t take itself seriously enough. For the technology being built, Web3 deserves more flowers and not fake flowers that clowns use to spray water in your face.