10/10/2025
Token2049 just wrapped up in 🇸🇬 Singapore, drawing a record 25,000+ attendees to the Marina Bay Sands.
Gone is the wild speculation of past years, 2025's vibe was grounded, builder-focused, with Perps, AI and real-world utility stealing the show.
In case you missed it, don’t worry, we’ve got you covered.
Here is what we learnt ⬇️
Trend #1: Perpetual DEXs ⛓️
Decentalized Perps dominated conversations, highlighting a competitive landscape where on-chain platforms challenge centralized counterparts in speed and liquidity.
Projects like @hyperliquidX, @Aster_DEX, @tradeparadex, and @lighter_xyz lead, with Hyperliquid leveraging a custom high-speed chain for massive daily volumes, Aster enabling multi-chain stock perps, and Lighter utilizing zero-knowledge proof execution.
The “Perp DEX wars" emphasize on-chain central limit order book (CLOB) designs that reward trader loyalty and facilitate high-volume shifts. This evolution positions decentralized perps as the next phase in DeFi trading, as discussed in sessions like “DeFi’s Next Chapter” featuring Hyperliquid's CEO @chameleon_jeff.
Trend #2: Tokenized RWAs 🏘️
Real-world asset tokenization was a core theme, signaling the industry's pivot to practical blockchain use cases.
Panels explored how assets like real estate and luxury watches can be tokenized, serving as "the most tangible proof point for blockchain utility" by bringing inherent off-chain value on-chain. This bridges crypto with traditional finance through platforms for on-chain treasuries, credit markets, and commodity tokens.
Speakers highlighted institutional and startup involvement in tokenizing equity, debt, and collectibles, targeting a multi-trillion-dollar market. The RWA push moves beyond speculative tokens, fostering sustainable value integration as echoed across multiple conference discussions.
Trend #3: Stablecoins & the Payments Revolution 💳
Stablecoins were central to many sessions, underscoring their role in transforming global finance. Leaders like Tether’s @paoloardoino and Circle’s @HeathTarbert discussed how dollar-pegged assets like USD₮ and USDC are revolutionizing payments and remittances.
Debates on the “stablecoin singularity” examined post-dominant stablecoin innovations, including @BitGo’s yield-bearing stablecoin and @fraxfinance’s algorithmic models.
A private “Stablecoiners in Singapore” meetup focused on payments and “agentic commerce,” positioning stable-backed digital money as critical infrastructure.
Trend #4: AI and Autonomous Agents 🤖
Building on 2024's AI surge, Token2049 featured extensive talks on decentralized AI (DeAI) and on-chain autonomous agents. Speakers deep dived AI-blockchain integration for verifiable computations and economic transactions among “agentic” bots. Discussions included decentralized robotics, with @BitRobotNetwork’s partnership with @GoogleDeepMind as a key example.
A keynote on “AI That Powers Experiences” emphasized generative AI in crypto applications, while @SuiNetwork pitched its Layer-1 as optimized for AI, robotics, and quantum computing to support smart agent use cases.
Trend #5: Post-Quantum Cryptography 🌌
The potential quantum computing threat was framed as a critical "fix-or-die" juncture for crypto security. Investor @caprioleio warned in a talk that protocols like Bitcoin require urgent upgrades to remain quantum-safe.
Panels examined post-quantum cryptography advances, assessing current encryption (e.g., ECDSA) against future attacks. The “Double Threat: Quantum and the Treasury Bubble” session stressed quantum preparation in long-term roadmaps, exploring lattice-based algorithms and quantum-resistant blockchains.
Trend #6: Decentralized Identity 🪪
Tokenized identity and privacy gained traction as an emerging trend. Visionary @balajis spoke on “Cryptoidentity,” advocating self-sovereign systems using blockchains for verification without centralized control.
Discussions covered soulbound tokens and decentralized identifiers (DIDs) for on-chain reputation, credentials, or KYC. “Tokenized identity” was positioned as vital for trust in decentralized social networks, enabling services like on-chain credit scoring or personal data vaults.
Trend #7: Cross-Chain Interoperability ❎
With multi-chain ecosystems maturing, cross-chain bridges and interoperability were key at onstage and side events. The “Cross-Chain Liquidity Soirée” celebrated innovations connecting assets and data across chains. Projects like @cosmos, @Polkadot, and @LayerZero_Labs were highlighted for seamless liquidity movement and messaging.
Users operating on multiple L1s/L2s drive demand for secure connections, shifting from fragmentation to a unified network.
Trend #8: NFT 2.0 🖼️
Despite market cooling, "NFT 2.0" narratives evolved, focusing on creator rights and expanded use cases. A panel with @animocabrands and @ysiu discussed reclaiming royalties and redefining ownership in tokenized culture.
Emphasis was on secondary sale royalties amid marketplace competition, extending NFTs to gaming (true item ownership) and entertainment (music/film rights). Investors like Animoca and projects like @Chiliz (sports fan tokens) reinforced Web3 culture's role in onboarding users through sustainable creator economics.
Trend #9: Gaming is Back 🎮
"NFT 2.0 – Reclaiming Royalties & Redefining Ownership" led by @mcrown spotlighted how NFTs turn in-game assets like weapons or skins into true player-owned property.
Think royalties fueling creator economies in games like @TheSandboxGame.
@ysiu dropped gems on tokenizing communities, NFTs in @AxieInfinity-style games let players co-own lore and economies, blending social + blockchain for dynamic stories.
Project launches stole the show: @Anome_Official announced creator NFTs as customizable avatars/tools, drawing 300+ attendees and 1M views for player-driven narratives.
Meanwhile, @pixelmon's MON Hub showcased monster-catching with tradable NFT creatures/items.
Investor take: @GAM3Sgg recaps noted a shift to "survival mode" but hype around @PudgyPenguins Party and @Ronin_Network ecosystems for evolving in-game assets like vehicles or land.
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