XMONDAYS DANANG RECAP: WEB3 IN DA NANG - A HIDDEN GEM

Thank you to everyone who contributed to organizing the first warm and cozy xMondays Da Nang, spreading the word with Umbala, and opening up opportunities to "grow local to go global!"

FLATTENING THE "FAST MONEY, SLOW MONEY" CONCEPT

Unlike the bustling atmosphere of Saigon or the fast-paced life in Hanoi, Da Nang possesses a quiet charm that still attracts those looking for "hidden gems" in the Web3 space.

DA NANG MARKET: A HIDDEN GEM

Uncovering the potential of Da Nang’s market isn’t easy, as the close-knit and private nature of the Dev and Builder communities here has become an inseparable part of the landscape. But like the saying "a diamond in the rough," behind this modest exterior lies a valuable network with untapped potential. The Devs and Builders in Da Nang, though reserved, hold advanced ideas and technologies, always ready to explode when the right opportunity arises. However, they often seek private, 1:1 opportunities to discuss strategies rather than participating in large gatherings.

THE PERFECT COMBINATION OF TIMING, LOCATION, AND COMMUNITY

Da Nang brings together the perfect blend of "timing, location, and community" - with its vast sea, long rivers, surrounding mountains, and rich, affordable cuisine. Perhaps this is why Da Nang’s "small giants" often choose a simple, quiet life without much show. But it is this humility that makes Da Nang an unpredictable market, where the apparent calmness hides great opportunities for startups and investors.

THE AWAKENING OF DA NANG'S WEB3 COMMUNITY

Before the event, more than 70 people registered through the form, 50 invitations were printed, and personal follow-ups were made. Yet only 15 people attended the event. Quite shocking! Yesterday, only one AI builder and one engineer interested in startups joined. The AI builder had the opportunity to meet a mentor and a reputable angel investor who is very passionate about incubation to support Web3 & AI builders in Da Nang. This is someone who has invested in the early stage of an electric vehicle technology startup or a startup that has a trading volume of up to 1 billion dollars. Another talented young Senior Engineer, just born in 2003, working remotely for a top game company in Vietnam, had the chance to be advised on how to break through the basic barriers to entrepreneurship.

In every challenge, there’s an opportunity. Fortunately, xMondays found its "dragon vein." At the first xMondays Da Nang event, some people canceled their flights to stay and participate, others traveled long distances and waited until the end to get advice from Mr. Thao, and some found a mentor for their project. Most importantly, xMondays connected key resources, laying the foundation for developing a Fintech Hub for Builders, Influencers, and Retail Investors in Da Nang to reach out to the world.

Most outsiders explore Da Nang and leave without returning, but Umbala Labs thinks differently. We are sure to offer incentives to develop at least one successful startup builder use case from Da Nang that will grow along with the xLaunch program.

Mr. Thao Nguyen, CEO of Umbala Labs, pointed out that Da Nang is like a hidden fortress connecting many "dragon veins." Da Nang is gathering many talented people from the Central region, and Central people are known for their competitiveness. That’s it, "dragon veins" are always hidden, never exposed.

THE JOURNEY OF DISCOVERING DA NANG'S "HIDDEN GEMS"

In the peaceful city of Da Nang, on the evening of Monday, August 19th, xMondays Da Nang brought together a group of talented individuals quietly driving technological change in Da Nang, even with a small turnout. Throughout the meeting, the atmosphere was not only comfortable and pleasant but also filled with creative energy. Success stories, challenges, and how to overcome them became a powerful source of inspiration for all participants.

INSIGHTFUL PERSPECTIVES FROM SPEAKERS

+ VO DUC ANH - DEPUTY DIRECTOR OF DA NANG STARTUP SUPPORT CENTER

"Creating policies to support startups must break the vicious cycle between the investor network and the projects."

Vo Duc Anh, with extensive experience in investment and startup support, shared deep insights into the development of projects in Da Nang. He discussed the vicious cycle between startup projects and investment funds: projects struggle to grow due to a lack of investment, while funds hesitate to invest because the projects are not yet of sufficient quality. He emphasized that policymakers must know how to break this cycle. To attract investment, product quality must be improved, and market demand stimulated. With the mindset of "where the grain is, the pigeons will come," Duc Anh asserted that strong investment funds are key to driving the development of potential projects.

+ DAN CODY - FOUNDER OF CODY CMP

"I don’t trade and don’t know how to trade. But I will create a trading community where we can learn together and make money."

Dan Cody, as the founder and influencer of a large trading community, shared his deep views on his journey in the financial market. He emphasized that the ultimate goal of those participating in the financial community is to know how to create unique and personal products. According to him, investing in the financial market is a learning journey where everyone must be prepared to lose money—but only within controllable limits. From these costly lessons, Dan Cody believes he can help others realize the value of smart investing and, from there, know how to invest more effectively. "Let the community experience the pain, then help them overcome it and finally make money," he shared.

+ HUY PHAN - FOUNDER OF TU DAU DAU TU

"Choose the right time when prices are low and the project is safe to secure the best position for investment."

Huy Phan, an experienced investor, shared safe investment strategies in a volatile market. He emphasized that in any investment market, it is impossible to avoid losses completely. However, the important thing is how to minimize risks. He advised the community to prioritize choosing safe projects and investing when prices are low to ensure the most solid position for making a profit. Huy Phan believes that with this strategy, investors can optimize profits and maintain safety in the long run.

CONCLUSION

The potential of Da Nang is gradually being uncovered, and surely, with the awakening of the Web3 community, those "hidden gems" will soon shine. Thank you to everyone who contributed to organizing the first warm and cozy xMondays Da Nang, spreading the word with Umbala, and opening up opportunities to "grow local to go global!"

The xMondays series will continue its journey to Saigon on 30 September 2024, promising more valuable experiences and lessons for the Web3 community. If you are passionate about technology and eager to explore new opportunities, join us and be part of the change.