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Leveraging two decades of expertise in cryptography technology and a forwardlooking vision for the immense potential of the Web3 market, KIY is embarking on a strategic transformation:
The KIY Ecosystem is dedicated to building a user-centric Web3 authentication infrastructure, with a goal of:
From the Initial Coin Offering (ICO) boom of 2017 to the Non-Fungible Token (NFT) frenzy of 2021 and the subsequent meme coin explosion of 2023, the Web3 landscape has been inundated with millions of tokens. However, over $99.99 \%$ of these tokens lack genuine product backing, substantive services, or viable use cases. During this period, the Web3 market essentially degenerated into a speculative arena lacking legal regulation and ethical constraints: speculative developers and early-stage capital players acted as “market makers,” artificially inflating token prices to “pump and dump,” leaving the vast majority of tokens to ultimately become worthless “junk coins,” while retail investors became the primary targets of market exploitation. This chaos has severely damaged the overall reputation of the industry, fostering a pervasive public perception that “Web3 is a scam, and all tokens are fake.”
In 2024, with the formal implementation of government-level regulatory frameworks, the Web3 market experienced a fundamental turning point. This regulatory clarity has enabled mainstream financial institutions to recognize and invest in blockchainbased products and services represented by established assets such as Bitcoin and Ethereum. In stark contrast, speculative tokens lacking products, services, and intrinsic value have seen their prices plummet due to a loss of market trust, gradually being washed out of the market. Although the exploration and trial period from 2017 to 2023 was fraught with chaos, this phase was not without merit. It laid four crucial foundations for the sustainable development of Web3: