Conversation with TOKEN2049 Cofounder on what it takes to host a world-class crypto conference

TechFlow: Sunny & Min

TOKEN2049: Alex Fiskum

"People like to see overnight success, but behind it often lies decades of hard work."

-- Alex Fiskum

Preface

"He named you. Must be special."

- K (Protagonist of "Blade Runner 2049")

In 2017, on the big screens of Hong Kong, biotechnological replicas of future humans still dominated sci-fi films. Desolation, ruins, cities of the future - guns and spaceships intertwined amidst light and shadow. Immersed in golden, warm light were confrontations between human replicas and their hunters.

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At that time, the concept of a global financial system led by blockchain had not yet swept mainstream culture. The award-winning Hollywood film "Blade Runner 2049" primarily explored themes of humanity, identity, memory, and the blurred boundaries between humans and artificial life.

While most were still lost in the hazy illusion of future bioengineered beings, Alex Fiskum was someone living scenes out of these movies – but in real life.

However, the real-life theme wasn't about clones but Ethereum.

Alex is the co-founder of the crypto conference TOKEN2049.

By 2023, TOKEN2049 officially became the largest crypto event in history. Over 10,000 participants from more than 5,000 companies, 300+ exhibitors, 250 speakers, and over 450 side events graced the occasion. More than 70% of the attendees came from outside of Asia, with 10-15% hailing from the U.S.

Organizing such an event, given its vast capital, large number of participants, and the complex interests involved, often results in a performance bottleneck prior to reaching its peak. In previous years, Alex believed that this was merely a consequence of human nature. Some would be disappointed, others excited, but the constant offset might ensure the final outcome doesn't surpass expectations.

This year marked a turning point: TOKEN2049 officially transitioned from an Asian regional crypto summit to a global-level event.

Rumors that Alex was the biggest winner of the conference circulated among attendees. "I heard the organizer of TOKEN2049 made $30 million in just two days!" Such figures always astonish the listener. According to data from DefiLlma during the event (13th-14th), even the Ethereum chain's total transaction fees were dwarfed in comparison, amounting to approximately $7.09 million.

So, who exactly is Alex from TOKEN2049? Did he really make billions at this conference? What does TOKEN2049 truly represent? TechFlow was fortunate to invite Alex himself to share his story.

TechFlow: What 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, with a focus on financial technology, and I work in Hong Kong. Around the second half of 2016, cryptocurrency started to come into our view. At that time, we began to engage with it from a research perspective and made initial investments on a personal level. I vividly remember taking screenshots of my phone when I saw the price of Ethereum (ETH) soaring, with ETH's price consistently surpassing $10, $50.

Later, we paid more and more attention to it, but back then, we didn't have many contacts in the Web3 cryptocurrency realm. The primary intention behind Token 2049 was for us to explore how we could rapidly expand our network in this area. Therefore, we decided to host an event, inviting the brightest minds we knew in this sector, who would then recommend other speakers and projects, and it grew organically like a snowball.

I recall our inaugural event in 2018 drew around 1,500 attendees. Clearly, it was a fantastic opportunity to get to know everyone in the field, as it provided us with networking resources. Thus, my experience with cryptocurrency began from a venture capital perspective. We saw it as an exciting, potential investment opportunity and started to get involved. We sought various ways to engage, from attending conferences, building projects to investing in exchanges. From then on, the business of 2049 began to flourish.

TechFlow: Why have you chosen to develop Crypto in Hong Kong currently?

Alex: My past journey is somewhat intricate. I've lived in Sweden, Switzerland, and Norway, studied in Norway, Singapore, and China, and even served as a data scientist in the Philippines before gradually moving to Hong Kong.

I believe where I am today is the result of many coincidental and random circumstances. Initially, I never considered settling in Hong Kong, but I'm glad I chose it, and I've now lived here for eight years. In fact, the only other place on Earth I'd consider relocating to is Singapore. Most of our team members are also in Hong Kong. In line with 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. To me, it's almost a global city, closely connected and highly interconnected.

Undoubtedly, Hong Kong is a unique city where one can quickly access pristine beaches and also take hikes ranging from 10 to 30 minutes. For a Norwegian like me, the climate, food, and other aspects here are very exotic. From a company structure perspective, since hosting our first event in 2017, we've been gradually growing here, hiring staff and having a team in Hong Kong. That said, nothing's stopping us from moving to Singapore, which could be a potential choice for us in the future.

TechFlow: Initially, why did you name it 2049? What does 2049 signify?

Alex: There are several reasons. One reason was to make it sound mysterious, and I hoped our audience would grasp its significance. It's also a nod to certain future implications. The number has a stickiness to it, infusing a sense of technology and futurism behind the name.

For instance, if a conference has a difficult-to-pronounce name, it might be popular among audiences in China, Korea, or Japan, but might not be as memorable for Western audiences. We found numbers are easier for people to remember, so it's often referred to simply as 2049. Participants from various countries easily remember this name. Overall, a crucial aspect is that the number carries an implicit message, hinting at the future beyond 2049.

TechFlow: For this Singapore 2049 event, apart from Asian attandees, we noticed many attendees from the West, specifically Europe and America. Do you have any statistics on how many came from the U.S.? What do you think drew them to this conference?

Alex: I think this is one aspect of our business that we've executed very well. TOKEN 2049 is undoubtedly an international event rather than a local one. For instance, when I reviewed our data, it's interesting to see how it evolves over time. Last year, about 70% of attendees were from overseas. This year, over 80% are from abroad, with more than 10,000 participants, indicating we attracted a significant international crowd to Singapore. If I delve into these numbers, I estimate that around 10% to 15% of attendees are from the U.S.

Moreover, this was during the Formula 1 (F1) race week when hotel prices aren't cheap, so I believe it's quite an achievement that we were able to attract so many attendees to fly to Singapore for that week to participate in TOKEN2049.

Why does TOKEN2049 attract such a large international audience?

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

If we were to focus solely on more localized content, such as the ecosystem in Hong Kong or the overall cryptocurrency landscape in Asia, or even from a broader perspective like the regulatory situation in the US or Europe, we wouldn't be able to draw in an international crowd. Therefore, we've incorporated content from both the East and the West. I believe this provides people with an excellent reason to travel to Singapore.

Singapore serves as a transportation hub between the East and the West. It's relatively easier to travel to other destinations from Singapore, be it further east to places like China or Japan. We've always aimed to make 2049 an international event and have prioritized this aspect, whether it's in terms of our speakers, sponsors, or our community.

TechFlow: From the perspective of crypto investment, after interacting with the crypto investors who attended the event, what have you observed?

Alex: We've communicated with key investors in the crypto sphere, and there's been a notable increase in their investments after FTX. They felt that the market in November last year was closer to the bottom, both in terms of liquidity and private trades. However, we've also noticed that secondary market trades have slowed down, which might reflect a more cautious stance by retail investors. It might not be a suitable time for overly risky investments right now.

When asked about the market sentiment during 2049, most people believe the market has bottomed out, but I don't make price predictions. Comparing September and November of last year, the market was more panicky in September, while November was more uncertain.

Currently, the general sentiment is that new projects and startups are emerging, especially in Asia, which appears to be more active than in the West. Moreover, many renowned crypto venture capital firms continue to invest and allocate capital.

TechFlow: Everyone is curious about how much the organizers made this time. There are rumors of 30 million USD. I understand this topic is sensitive. Can you shed some light on it?

Alex: I want to emphasize that many might underestimate the actual cost of hosting an event during the F1 weekend in Singapore. For instance, as the F1 season approaches, hotel prices in Singapore can surge up to threefold. And for a large-scale event, the expenses are even higher due to the extensive manpower and resources required. Scheduling TOKEN2049 right before the F1 race means we not only had to book venues well in advance but also invest considerable time and resources in preparations. When considering the financial benefits of TOKEN2049, people should understand that organizing such an event demands significant investment, including venue, equipment, personnel, and so forth. Organizing such an event takes an enormous workload; we are already planning for 2025.

The funds associated with this event are typically determined years in advance, showcasing a capital-intensive business model. We prefer not to disclose exact numbers at this time, but thanks to our fantastic team, the business is thriving.

As for strategies on hosting a successful crypto conference, consider it our secret recipe. It's a bit of a "chicken or the egg" problem. To be successful, you need to attract speakers, attendees, and sponsors, but without any one of them, other aspects suffer.

TechFlow: TOKEN2049 has canceled London and added Dubai. What led to this decision?

Alex: I deeply love London and identify with my European roots. However, this year, we chose not to host the 2049 conference in London and instead moved it to Dubai. This doesn't mean we've given up on London permanently, but it's due to a variety of factors.

The cryptocurrency ecosystem in London, although vibrant, doesn't scale as much as it does in places like Singapore or Dubai. In London, scaling the event isn't straightforward, especially in the central city areas. For our 2022 event, we chose the West Greenwich area, and despite its central location, it still required attendees to spend 20-30 minutes to reach. To expand the event to 10,000 attendees, we might need to look at locations even farther from central London. Coupled with the high costs in London, this poses a significant challenge in the short term.

On the other hand, Dubai is booming. Its abundance in venues, accommodation, logistics, and transportation make it our top choice. While Dubai frequently hosts a range of smaller events, we aim to introduce a unique, genuinely global Web3.0 event brand to the city.

TechFlow: Were there any memorable moments for you at TOKEN2049?

Alex: I've been organizing the 2049 conference for seven years now, and this year felt different than the rest. Organizing such a large event is both emotionally rewarding and immensely stressful, involving significant funding and participation. Yet, this year, I felt we reached a new pinnacle.

In the past, despite our extensive preparations, the pressure of preparation only mounted as the event neared. There's always this sensation after the 2049 conference, akin to building a sandcastle by the seashore; then, a wave sweeps in, washes it away, leaving you with nothing. An entire year spent building, investing so much time and resources, and then it just vanishes suddenly.

But this year, I felt that we achieved unprecedented success. The 2049 conference is no longer a fleeting event but has evolved into a genuinely enduring community, reflected in our social media presence. I am confident that as time progresses, our community will generate even greater network effects.

I'm incredibly proud of the entire event's success, especially seeing the sponsor booths and the main stage. This gives me immense satisfaction. People love overnight success stories, but behind those are often decades of work. As I always emphasize, it's a collective effort; without our team, we could never have achieved such a feat.

TechFlow: It seems you're also investing. Can you share other ventures you're involved in apart from the event?

Alex: Working at Token 2049 is exhilarating. We often get early insights into many confidential projects, some of which have been in contact with us long before they hit the market, seeking to promote at our events before they go public. Having access to these backstage projects is a privilege, not available to everyone.

Within our events, we witness a myriad of decentralized projects, including some significant ones. The domains range from decentralized storage to distributed computing, especially those related to artificial intelligence. The 2024 event had many such participants, and they also plan to join the Dubai event. I noticed many are particularly interested in the AI theme for the Dubai event.

Although I oversee TOKEN2049 operations full-time, we operate more like a family office, always on the lookout for strategic investment opportunities.

Epilogue Rewinding to 2017, Alex wasn't the only protagonist of this real-life movie. Many others joined the blockchain industry, primarily fueled by Ethereum, and were equally passionate.

By 2023, the frenzy has settled, and rationality prevails. The success of 2049, deservedly achieved by the TOKEN2049 team after seven years of dedication, mirrors the efforts of countless industry professionals pushing past 2049's limitations. Kudos to the 2049 team and numerous other event organizers in the industry, bridging communication gaps and offering opportunities for progress.

"Blade Runner 2049" ended leaving many questions unanswered; TOKEN2049 isn't over either. Looking forward to reconvening at the Dubai conference in April 2024.

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