The Future of Web3 as Depicted by RWA, IP, and DAO – Six Months of Demonstration Results and Current State of Social Implementation 【Ministry of Economy, Trade and Industry × N.Avenue Special Event Report】 | CoinDesk JAPAN

The "Web3.0 and Blockchain Utilization Digital Public Goods Construction Demonstration Project" conducted by the Ministry of Economy, Trade and Industry from August 2024 over a period of six months aimed at the social implementation and acceptance of Web3, with six projects focusing on RWA (tokenization of real-world assets), content IP, and regional revitalization DAO being selected. During the period, workshops and discussions involving experts were held, and results based on assumed use cases were compiled.

N.Avenue/CoinDesk Japan has been responsible for public relations and workshop operations for this project, covering from the kickoff on August 20 to the results presentation on February 26, 2025.

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On June 19, approximately four months after the achievement report, six selected businesses and experts gathered again for a special reflection event co-hosted by the Ministry of Economy, Trade and Industry and N.Avenue. Discussions were held on three themes: "RWA," "Content," and "Community," focusing on how Web3 can balance public interest and economic viability.

Speaking at the opening remarks, Mr. Shuichiro Yoshida, Director of the Frontier Promotion Office of the Innovation Policy Division at the Ministry, recalled that the Web3 community, which he initially imagined to be closed, was actually an open and friendly place. He expressed hope that a time would come when the term Web3 would become unnecessary as it permeates daily life.

| | | | | --- | --- | --- | | Theme | Theme Title | Business Name | | ①-1 | Construction of a digital market for tangible and intangible assets (issuance and distribution market) (guidelines) | Japan Cryptocurrency Business Association | | ①-2 | Construction of the digitalization market for physical and intangible assets (issuance and distribution market) (demonstration project) | Leaf Publications Inc. | | ①-2 | Building a digital market for physical and intangible asset digitization (demonstration project) | NTT Digital Corporation | | ③ | Establishment of Rights Management System and Rules for Portrait Rights in the Sports Industry | Rakuten Group, Inc. | | ④ | Formulation of Guidelines for Content IP Protection | PwC Consulting LLC | | ⑤ | Formulation of Guidelines for Web3.0 Type Regional Revitalization and Creation of Related Population | Hiroshima Web3 Association |

*You can check the details of the proof of concept from here.

The Vision of Web3 Pictured by the Demonstration Project

After that, a panel session was held with representatives and advisors from the selected businesses for the proof-of-concept projects, focusing on RWA, content, and community, reflecting on the results.

In the first part of the panel session titled "Japan's Leading Edge in RWA Tokens," Kenji Hoki, Advisor of the Japan Cryptocurrency Business Association and Chair of the Use Case & Custody Subcommittee, and Shintaro Nakagawa, CEO of Leaf Publications, took the stage. The moderator was Naoki Kitazawa, who served as an advisor for the project and is a Venture Partner at Eight Roads Ventures Japan, as well as an outside director at Kyash and AnyMind Group.

〈From left, Moderator Kitazawa, Hoki from the Japan Cryptocurrency Business Association, Nakagawa from Leaf Publications〉Regarding the social implementation of RWA, Hoki stated, "Systematic arrangements, including third-party opposition requirements, are essential," emphasizing the significance of the guidelines developed during the demonstration experiment. Nakagawa introduced efforts to utilize Japanese sake NFTs for cross-border sales, stating that NFTs will be key to expanding distribution channels and supporting sake breweries.

The following session "Maximizing the Value of 'Content' - Possibilities of the Web3 Ecosystem" featured Ryosuke Nanbu, Vice General Manager of the NFT Business Division of Rakuten Group's Commerce & Marketing Company Entertainment Content Department, and Toshinobu Mori, Senior Manager at PwC Consulting Technology Laboratory. The moderator was Masashi Masuda, a partner attorney at Mori Hamada & Matsumoto Foreign Law Joint Enterprise and a specially appointed professor at Hitotsubashi University.

〈Mr. Nambu from Rakuten Group (left) and Mr. Mori from PwC Consulting〉In this session, the main theme was how to utilize content such as IP (intellectual property), where Japan has strengths, in Web3. Mr. Nambu introduced examples of secondary distribution of tickets utilizing NFTs that are being promoted by Rakuten Tickets, while pointing out that the number of NFT users is still limited, which poses a challenge for wider adoption. He mentioned a concept of tokenizing IP licenses, allowing fans to participate in funding and production, while stating, "It's a dream-like story." He talked about the potential for Web3 to become the infrastructure of the cultural industry in the future. Mr. Mori emphasized the importance of a platform with a UI that does not make users conscious of Web3.

In Part 3 "The Future of Decentralized 'Community' and Value Co-Creation", Fumihiro Shindo, Director of the Hiroshima Web3 Association and CEO of CodeFox, and Atsushi Ito, Senior Manager of NTT Digital BD, took the stage. The moderator was Takayuki Masuda, Editor-in-Chief of CoinDesk JAPAN.

〈Itō pointed out the importance of UX design that does not make users conscious of Web3 (right)〉 Shindō reflected on the DAO (Decentralized Autonomous Organization) demonstration in Ama Town, Shimane Prefecture, and Mihara City, Hiroshima Prefecture, stating that in regions where the population is declining, it is difficult for local governments to solve problems alone, and emphasized the importance of DAO as a means to involve external personnel. He mentioned that a system where residents take the initiative to tackle issues and are rewarded and given decision-making power according to their contributions could become a model that connects Web3 and regional revitalization.

Mr. Ito introduced the case of the Web3 project "web3 Jam," which aims for co-creation beyond the boundaries of companies. He touched on the expansion of participating companies from 14 at the time of its launch to 34 currently, discussing the potential in the marketing field. He reflected that through verification, he has re-recognized the importance of UX design that does not make users conscious of Web3.

Both individuals expressed the view that the expansion of DAOs in local areas and the application of Web3 in non-financial domains will further progress in the future.

At the end of the event, a networking session was held, where participants reflected on the progress of the demonstration project and contemplated the future of social implementation for Web3.

〈The social gathering started with a toast led by a representative from the Ministry of Economy, Trade and Industry〉