Attend Coinfest Asia 2022, VCGamers: Let's Strengthen Indonesia's Web3 Ecosystem

VCGamers appreciate implementation Coinfest Asia 2022 which took place for two days on 25-26 August 2022 in Bali.

Co-Founder & Chairman of VCGamers, Wafa Taftazani, said that the Coinfest Asia 2022 activity could be a momentum for the awakening of the Web3 ecosystem in Indonesia.

Because, said Wafa, this activity provided space for all Web3 start-up founders to be able to exchange ideas and get education from all sources.

"We appreciate the implementation of Coinfest Asia 2022 because this event brings together Web3 business people in the country. We believe that this activity can strengthen the Web 3 ecosystem in Indonesia," he said.

Wafa continued, his party also appreciated this activity because it helped provide education about web3, blockchain, financial services, NFT, Gamefi, DeFi and others.

"We hope that with this activity, the Web3 ecosystem in Indonesia can get stronger and develop," he said.

Coinfest Asia is a special event for crypto & blockchain startup founders and all those building solutions in the web3 space.

Also read: The Presence of Web3 Drives the Development of Indonesia's Digital Economy

Coinfest Asia 2022, Deputy Minister of Trade Supports Competitive Indonesian Crypto Assets

There were a number of speakers who attended the activity. One of them is the Deputy Minister of Trade of the Republic of Indonesia, Jerry Sambuaga.

Jerry stated, currently there have been many crypto assets from Indonesia. Thus, he hopes that domestic crypto assets will be more competitive and in demand by the international market.

"The Ministry of Trade is very supportive of domestic and foreign companies and business actors to enter the Indonesian crypto asset market which continues to grow. Moreover, considering trading crypto assets is very beneficial for the development of the national economy," he said in a press release on the official website Indonesian Ministry of Trade.

He explained, currently CoFTRA has issued CoFTRA Regulation (Perba) Number 11 of 2022 concerning Establishment of a List of Crypto Assets to be Traded on the Physical Market of Crypto Assets. 

This regulation is both an update and revocation of Perba Number 7 of 2020. 

Where, in Perba Number 7 of 2020 there are 229 types of crypto assets that can be traded.

With the issuance of Perba Number 11 of 2022, the number has increased to 383 species.

"Of the 383 types, there are ten crypto assets originating from Indonesia. This is a very good first step and should be appreciated. Hopefully, there will be more crypto assets from Indonesia that will be incorporated into it," he said.

To note, $VCG Token from VCGamers is one of the crypto assets from Indonesia that is registered in Perba Number 11 of 2022.

Again Jerry, he revealed that referring to Gross Merchandise Value (GMV), the value of Indonesia's digital economy will reach USD 70 billion in 2021.

This figure shows that Indonesia is in first place compared to other countries in the Southeast Asian region.

In addition, the value of crypto asset trading transactions in Indonesia was recorded at IDR 859.4 trillion in the same year. Furthermore, this year until July 2022, it was recorded at IDR 232.4 trillion.

So, he said, this is an indication that the digital economy in Indonesia is becoming a catalyst for the development of the national economy.  Of course, while still paying attention to the legal aspects that apply in Indonesia.

For information, the Coinfest Asia activity which was held in Bali was also attended by the Deputy for Digital Economy and Creative Products at the Ministry of Tourism and Creative Economy (Kemenparekraf), Muhammad Neil El Himamdan and Plt. Head of the Commodity Futures Trading Regulatory Agency (Bappebti), Didid Noordiatmoko.

Also read: $VCG Token Officially Registered at Bappebti

About VCGamers

VCGamers is the pioneer of the web-3 ecosystem for gamers in Indonesia.

VCGamers born from the gaming community has launched VC Markets which is a safe marketplace for gamers.

In mid-2021, VCGamers also received seed funding of US$ 2.6 Million led by BEENEXT and RANS Ventures

Furthermore, in early 2022, VCGamers launched a crypto asset named $VCG Token.

The crypto assets of VCGamers have also been officially registered in CoFTRA Regulation (Perba) Number 11 of 2022 concerning Establishment of a List of Crypto Assets Traded on the Physical Market of Crypto Assets.

$VCG Token has also been listed on Pancakeswaps, Uniswap and Indodax. In the near future $VCG Token will also be listed on CEX Global.

Until now there have been a number of features that have been launched such as $VCG Staking as well as $VCG Swap & Bridge.

In addition, $VCG Token is now also the only medium of exchange in RansVerse, the first metaverse in Indonesia built in collaboration with RANS Entertainment, VCGamers and UpBanx and Shinta VR.