Dialogue with Token2049 Founder Alex: People love to see overnight success but underestimate the difficulties behind it

Interview: Sunny, Deep Tide TechFlow

Editor: Min & Sunny, Deep Tide TechFlow

Preface

"He gave you a name. You must be very special."

-- K (Protagonist of Blade Runner 2049)

In 2017, under the big screen in Hong Kong, it was still a sci-fi blockbuster about bioengineering replacing future humanity. Desolation, ruins, future cities, guns and spaceships intertwined in light and shadow. Bathed in golden, warm light are human clones confronting their pursuers.

At that time, the concept of a blockchain-dominated global financial system had not yet swept into the mainstream cultural framework. The same year, Blade Runner 2049, which won the Hollywood Film Awards, mainly explored themes of humanity, identity, memory, and the blurred lines between humans and artificial life forms.

While most people were still wandering in a hazy illusion of future artificial beings, Alex Fiskum was experiencing movie scenes in reality.

This European from Norway, living in Hong Kong, created the world's largest crypto event of 2023 in Singapore—TOKEN2049. This conference attracted over 10,000 participants, more than 400 sponsors, 250 speakers, and spawned over 450 side events, with more than 70% of attendees coming from outside Asia, of which 10% to 15% were from the United States. TOKEN2049 has truly transformed from a regional crypto summit in Asia into a global crypto celebration.

Amid the hustle and bustle of Token2049, rumors spread among participants that Alex and his Token2049 team might be the biggest winners in the bear market. "I heard the organizers of TOKEN2049 made 15 million dollars this time!" The circulated figure always left people dumbfounded.

Regarding the rumors, Alex bluntly stated that people underestimated the material costs, time, and effort required to organize such events, and they have already begun preparing for the 2025 Token2049 event in Singapore.

So who exactly is Alex, the co-founder of TOKEN2049? What does TOKEN2049 really mean? Deep Tide TechFlow talks to Alex to discuss the stories behind it.

TechFlow: What kind of experience do you have in the crypto field? Everyone is very curious about your background; can you share it with us?

Alex:

My background is in venture capital, focusing on fintech, and I work in Hong Kong.

Around the second half of 2016, cryptocurrencies began to enter our field of vision. At that time, we started trying to interact with it from a research perspective and made initial investments on a personal level. I still clearly remember taking a screenshot on my phone when I saw the price of Ethereum (ETH) skyrocketing, as it sustained prices over $10 and $50. Later, we became increasingly focused on it, but at that time, we didn't have many connections in the Web3 cryptocurrency space.

Thus, the original intention of Token 2049 was actually for us to explore how we could quickly expand our network in this field. So, we decided to host an event, inviting the smartest people we knew in this field, and then they would recommend other speakers and projects, which really snowballed and gradually grew.

I remember our first event in 2018 attracted about 1,500 participants. Clearly, it was a great opportunity to meet everyone in this field as it provided us with networking resources.

So, my experience with cryptocurrencies actually started from a venture capital perspective. At that time, we thought it was an interesting and potentially lucrative investment opportunity, and then we started trying to get involved. We looked for many ways to participate, from attending conferences, building projects, to investing in exchanges. From that point on, the business of 2049 began to develop.

TechFlow: Why choose to develop Crypto in Hong Kong now?

Alex:

My past experiences are indeed a bit complex. I have lived in Sweden, Switzerland, and Norway, studied in Norway, Singapore, and China, and even worked as a data scientist in the Philippines before gradually moving to Hong Kong.

I believe my current position is the result of many coincidences and random situations. Initially, I never thought about settling in Hong Kong, but I am glad I chose here, and I have now lived here for eight years. In fact, the only other place on Earth I would consider moving to is Singapore.

Most of our team is also based in Hong Kong. In the spirit of cryptocurrency, our team and organizational structure are relatively decentralized. We have five team members in Hong Kong, and others in the UK, Thailand, and the Philippines. We also have some extended team members in Singapore and other places.

Hong Kong is a very vibrant city. In my view, it is almost an international city, tightly connected and highly interconnected. For me, Hong Kong is undoubtedly the most unique city where you can quickly access pristine beaches and go for a hike within 10 to 30 minutes. For someone like me from Norway, the climate and food here are very exotic.

Of course, from a company structure perspective, since we held our first event in 2017, we have gradually grown here, hiring employees and building a team in Hong Kong. That said, nothing prevents us from moving to Singapore, which could also be a choice for us in the future.

TechFlow: Initially, why was it named 2049, and what does 2049 mean?

Alex:

There are several reasons for this. One reason is to make it sound mysterious; I hope our audience can understand its meaning. It also hints at certain things about the future. The number feels very sticky, so there is a sense of technology and futurism buried behind this name.

For example, if the name of a conference is difficult to pronounce, it may be popular among audiences in China, Korea, or Japan, but may not be as easy to remember for audiences in Europe and America. We found that numbers are easier to remember, so we often see people referring to it as 2049. Participants from different countries can easily remember this name. Overall, one important aspect is that this number carries an implicit message, hinting at the future of 2049 and beyond.

TechFlow: This time in Singapore, besides Asian faces, we saw many from Europe and America. Do you have any statistics on how many are from the U.S.? What do you think attracts them to this conference?

Alex:

I think this is a part of our business that we have done very well. 2049 is definitely still an international event, not a local one. For example, when I look at our data, it's interesting to see how the numbers have changed over time. Last year's event had about 70% of attendees from overseas. This year, over 80% of attendees are from overseas, and we have more than 10,000 participants, which means we attracted a large number of international participants to Singapore. If I delve deeper into this data, I estimate that about 10% to 15% of attendees are from the U.S.

Moreover, this was during the Formula 1 (F1) racing week, and hotel prices were not cheap. I think it's an achievement that we can attract so many attendees to fly to Singapore for TOKEN2049 that week.

Why does TOKEN2049 attract so many international audiences?

I think there are several reasons. First, 2049 itself is a global event. We have held it in Hong Kong, Singapore, and London. I believe people underestimate the time and effort required to organize events. To give everyone an idea, we are already preparing for the 2024 and 2025 Singapore events.

If we focus on more localized content, such as the ecosystem in Hong Kong or the overall cryptocurrency landscape in Asia, or look at it from a more macro perspective, such as regulatory conditions in the U.S. or Europe, we cannot attract international audiences. So we combine content from both East and West, which I think provides a great platform for people to fly to Singapore.

Singapore is a hub between East and West, making it relatively easier to fly to other places from Singapore, whether to the east, such as China or Japan. We focus on making 2049 an international event, and we always prioritize this, whether from the perspective of speakers, sponsors, or our community.

TechFlow: From the perspective of crypto investment, what have you discovered from communicating with crypto investors attending this conference?

Alex:

We communicated with key investors in the crypto investment community, and their investment amounts have significantly increased after FTX. They believe that the market in November last year was closer to the bottom, both in terms of liquidity and private trading. However, we also noticed that secondary market trading has slowed down, which may reflect a cautious attitude from retail investors. Now may not be the right time to focus too much on venture capital.

Regarding market sentiment during 2049, most people believe the market has bottomed out, but I do not make price predictions. Compared to September and November of last year, the market in September was more panicked, while November was more uncertain.

Currently, people generally believe that new projects and businesses are emerging, especially in Asia, which seems more active than in the West. In addition, many well-known crypto venture capital firms continue to invest and allocate capital.

TechFlow: Everyone is curious, how much did the organizers make this time? The currently rumored $15 million; I know this topic is a bit sensitive, can you share a little?

Alex:

I want to emphasize that many people may underestimate the actual costs of hosting an event during the Singapore F1 weekend. For example, as the F1 season approaches, hotel prices in Singapore can triple. For large events, costs are even higher because it involves a lot of manpower and resources. When we scheduled the TOKEN2049 event before the F1 race, it meant we not only had to book the venue in advance but also needed to invest a lot of time and resources in preparation. When considering the economic benefits of TOKEN2049, people should understand that hosting such events requires a huge investment, including costs for venues, equipment, personnel, and more. Organizing such events requires a tremendous amount of work, and we are already planning for the 2025 event.

The funding related to this event is usually determined several years in advance; it is a capital-intensive business model. We do not want to disclose specific numbers at this time, but thanks to our outstanding team, the business is developing well.

Regarding the strategy of how to monetize the event, this can be seen as our secret recipe. It’s like the question of "which came first, the chicken or the egg?" To succeed, you need to attract speakers, audiences, and sponsors, but if any one of them is missing, the others will be affected.

TechFlow: TOKEN2049 canceled London and added Dubai; what considerations were behind this decision?

Alex:

I love London and identify as a European. But this year, we chose not to hold the 2049 conference in London and instead moved it to Dubai. This does not mean we are permanently giving up on London, but it is due to various considerations.

Although London has an active cryptocurrency ecosystem, it is still smaller in scale compared to Singapore and Dubai. In London, it is not easy to scale up events, especially in the city center. We chose the Greenwich area for our 2022 event; although it is in the central area, participants needed to spend 20 to 30 minutes to get there. To expand the event to 10,000 people, we might need to look for locations further away from central London. Coupled with the high costs in London, this presents a huge challenge from all aspects in the short term.

In contrast, Dubai is experiencing strong growth. Its rich venues, accommodations, logistics, and transportation make it our top choice. Although Dubai often hosts various small events, we hope to bring a unique, truly global Web3.0 event brand to it.

TechFlow: Was there a memorable moment for you during this TOKEN2049?

Alex:

I have been organizing the 2049 conference for seven years, and this year's experience felt different from previous years. Although organizing such a large event is both emotional and stressful, involving a lot of money and participants, this year I feel we have reached a new height.

In the past, despite our extensive preparations, the pressure of organizing increased as the event approached. I always felt that after the 2049 conference ended, you would almost feel like you built a sandcastle by the sea, and then the waves came and washed it away, leaving you with nothing. You spent a whole year building it, investing so much time and resources, and then it suddenly disappeared.

But this year, I feel we achieved unprecedented results. The 2049 conference is no longer a one-time event; it has formed a truly sustainable community, which is reflected in our social media. I am confident that over time, our community will generate greater network effects.

I am very proud of the overall success of the event, especially when I see the sponsor booths and the main stage. This gives me immense satisfaction. People love to see overnight success, but behind it often lies years of work. As I emphasize, this is a team effort; without our team, we could never accomplish such a feat.

TechFlow: It seems you are also making investments; can you share what other businesses you are involved in besides the events?

Alex:

Working on Token 2049 excites me. We often get early insights into many secret projects, some of which reach out to us long before they go to market because they want to promote themselves at our event before going public. Being privy to these behind-the-scenes projects is a privilege that not everyone has.

At our events, we see a variety of decentralized projects, including some large projects, covering areas from decentralized storage to decentralized computing, especially those related to artificial intelligence. Many such projects are participating in the 2024 event, and they also plan to join the Dubai event. I noticed that many people are particularly interested in the AI theme at the Dubai event.

Although I am fully responsible for the operation of TOKEN2049, we operate more like a family office, and we are also looking for some projects for strategic investments .

Postscript

Alex is a low-key person who stands behind the glamorous stage of Token2049, quietly observing it all, just like the lyrics in The Ascetic:

I want people to see me, but not know who I am. There are no results without reason; what people see is the bustling TOKEN2049 and the countless profits for the organizers, but behind it lies the seven years of dedication from Alex and his team. Efforts do not go unrewarded; after seven years of sharpening a sword, it is now time to reap the harvest.

Blade Runner 2049 left many unresolved questions at its end, and TOKEN2049 has not concluded; in April 2024, the Dubai conference will bring us together again.