Türkiye has solidified its position in the world of digital assets in 2024, ranking seventh globally on the Chainalysis Global Crypto Adoption Index and becoming the leading country in the Middle East and North Africa (MENA) region.
Industry leaders discussed the latest trends in digital assets, blockchain and Web3, bringing attention to countries’ investments in these areas at the Binance Blockchain Week in Dubai. Last year’s edition was held in Istanbul.
The event saw the United Arab Emirates (UAE) and El Salvador share updates on their regulations and investments.
Meanwhile, global crypto asset investments rebounded from 2022 to reach a total gain of $37.6 billion in 2023. The U.S. led with an estimated $9.36 billion in gains.
Türkiye, with a significant focus on stablecoin usage, has remained a leader in the region and continues to rank high in crypto adoption worldwide, according to the Chainalysis Global Crypto Adoption Index.
Growing trust in crypto markets
Binance CEO Richard Teng kicked off the Dubai event with a captivating speech themed “Momentum.”
He focused on growth and resilience in the blockchain and Web3 industries, emphasizing that despite regulatory and market challenges, the sector’s recent developments have gained momentum.
Teng highlighted that 2024 has been a good year, particularly noting the approval of crypto ETFs in the U.S. and the growing interest of institutional investors.
He reiterated Binance’s commitment to strengthening the digital ecosystem, boosting mass adoption, and ensuring regulatory compliance.
“It’s time to think about the future of crypto and blockchain,” Teng said, as he posed critical questions to guide the future of blockchain and crypto.
“What have we done right, and what more should we do? What kind of scenarios should we develop? How can we drive positive change? What can be done to make financial services more inclusive?”
“These are important questions. We must answer them together,” he noted.
Digitizing assets
People are increasingly digitizing their assets, attracted by the advantages of blockchain technology such as flexibility, security, and transparency.
Digital assets eliminate intermediaries, enabling real-time transactions at lower costs, enhancing accessibility in global markets and providing a decentralized, transparent ledger that ensures security for individuals and businesses.
Despite the fluctuations in the crypto market, global trends indicate a strong investment potential. Bitcoin is on the verge of reaching its all-time high, exciting all crypto exchanges. Both cryptocurrencies and next-gen assets like Web3 and NFTs are becoming cornerstone elements in digital investment portfolios.
3 forms of digital assets
Crypto Exchanges: Bitcoin (BTC) and Ethereum (ETH) remain the top attractions in the crypto market, with the former holding its position due to its value and long-term investment potential.
Other major cryptocurrencies like Solana (SOL) and Ripple (XRP) also draw significant interest from investors. Additionally, Ethereum-based altcoins and stablecoins are widely preferred.
NFTs (Digital Art and Collectibles): In the NFT space, Bitcoin-based NFTs like Bitcoin Ordinals garnered significant attention in 2023, with the trend expected to continue into 2024.
While Ethereum-based projects like CryptoPunks and Bored Ape Yacht Club remain popular, game-themed NFTs and collections are also becoming a growing segment of the NFT market.
Web3 and DeFi (Decentralized Finance) Projects: DeFi protocols, particularly platforms like Uniswap and Aave, are attracting investor interest.
Furthermore, developments in the Web3 space, projects aimed at increasing user engagement and innovative DeFi-based NFTs are among the digital assets drawing attention.
ExoMatter becomes 212 NexT’s first deep-tech investment
Türkiye’s first vertical-focused deep-tech fund, 212 NexT, has made its inaugural investment in ExoMatter, a platform that leverages artificial intelligence (AI) to significantly reduce research and development (R&D) and product development times.
The funding round, co-led by 212 NexT, secured 1.7 million euros, which ExoMatter aims to utilize to expand its team and client base, aspiring to become Europe’s leading platform in materials informatics.
By employing AI and quantum chemical modeling, ExoMatter revolutionizes materials R&D, enabling companies to discover new materials optimized for performance, cost, and sustainability.
This innovative approach shortens material development time by up to 90%, reducing costs and greenhouse gas emissions, making the process faster, more efficient and environmentally friendly.
Airbus among key clients
ExoMatter, with its early-stage product version, is already collaborating with market leaders, including companies listed on Germany’s DAX index, such as Airbus and Infineon, and has achieved noteworthy six-figure revenue with a clear growth trajectory.
As one of the first movers in Europe, ExoMatter holds a strong position and is steadily building a rapidly growing customer base.
As one of the pioneers in Europe’s digital materials sector, ExoMatter is well-positioned for future expansion.
The founding team of ExoMatter consists of CEO Josua Vieten and COO Barbara Bachus.
Bachus expressed her enthusiasm, stating, “We’re thrilled to have completed this funding round in close cooperation with our leading investor, Vanagon. With the support of our investors, we will further automate and scale the ExoMatter platform, and have already begun discussions for another funding round next year.”
ExoMatter provides access to an almost limitless number of potential materials, even surpassing the number of stars in the universe. Through AI and quantum-level calculations (DFT), the platform evaluates and optimizes materials based on performance, cost and sustainability, allowing companies to save time, minimize risk, and maximize returns.
Addressing material shortages
Materials R&D faces significant challenges: developing new materials can take six years or more and often relies on time-consuming trial-and-error processes. Future regulations will increase the complexity, requiring materials to meet stringent sustainability standards.
Today, materials contribute to over half of global greenhouse gas emissions, while shortages of critical resources, like rare earth elements, hinder the energy transition.
Gizem Yağız, Managing Partner of 212 NexT, highlighted their strategy, saying as a vertically-focused fund, they offer strategic advantages to industrial companies by enabling them to leverage their portfolio’s innovative technologies.
“Through our extensive network, investors can establish manufacturing partnerships abroad and integrate promising technologies into their processes. We achieve this by carefully selecting startups that provide the right value propositions for our portfolio,” Yağız said.
WASK: Transforming digital advertising game with AI
WASK is establishing itself as a pioneering tech startup reshaping digital advertising and is poised as a strong contender in Türkiye’s “Turcorn” roster, a recognition for venture boasting a valuation of over $1 billion.
Backed by innovative AI-driven software, the company raised $2.4 million in a funding round led by Eksim Ventures in early 2023.
Eksim Ventures, the venture capital fund of Eksim Holding, focuses on sustainable growth models in sectors like energy, food, fintech, biotechnology and defense. It led the funding round for WASK with a $600,000 contribution.
Now reaching over 5,000 users across 130+ countries, WASK uses AI-powered software to empower advertisers by analyzing visitor behavior on websites and mobile apps to help them connect with more potential customers while optimizing budgets.
Rising star
Founded in 2017, WASK relocated its headquarters to the U.S. in 2022, though much of its operations remain in Türkiye.
It has attracted interest from regions including North America, Europe and Australia. Known for automating ad campaigns on Google and Meta platforms, WASK’s software as a service (SaaS) solution identifies target audiences with precision, helping brands achieve direct consumer engagement.
The platform’s tailored approach serves industries like e-commerce, healthcare, beauty, tourism and retail and real estate, driving growth for mid-sized businesses in consumer-focused sectors.
Growing market
With over 30 million advertisers worldwide, digital ad spending is climbing.
Uğur Mutluhan Oruncak, a member of Eksim Ventures’ Investment Committee, highlighted that global digital ad spending exceeded $1 trillion last year, with $650 billion in paid ads, particularly on Google and Facebook.
“In this growing market, WASK has captured global interest with its solutions. We believe WASK will significantly impact Türkiye’s digital marketing sector,” said Oruncak.
Since 2021, Eksim Ventures has invested in 13 startups spanning various fields, including human resources software, online therapy platforms, online marketplaces, EV charging programs, autonomous robotics, healthcare applications and open banking.
Türk Telekom unveils energy efficiency, sustainability achievements
One of Türkiye’s leading telecommunications and technology companies, Türk Telekom has published its first Integrated Activity Report, detailing the company’s 2023 Environmental, Social and Governance (ESG) performance and strides in sustainability.
The report, themed “Value for a Sustainable Future,” has been prepared in line with the Global Reporting Initiative (GRI) standards. It details the company’s financial and operational performance and showcases Türk Telekom’s commitment to sustainability through various efforts, from environmental impact reduction to social benefits.
It also highlights Türk Telekom’s contributions to the United Nations Global Compact, Sustainable Development Goals and other sustainability indexes.
Kaan Aktan, Türk Telekom’s CFO, emphasized the company’s dual focus on driving next-generation technology and building a sustainable future.
“Our integrated reporting model presents our Environmental, Social and Governance (ESG) performance, expanding our sustainability scope beyond environmental impacts to include social benefits, digital equality and economic contribution.”
Energy efficiency and environmental gains
Aktan noted significant achievements in energy efficiency projects, which provided substantial economic and environmental benefits.
“In 2023, our energy efficiency projects saved 47 GWh, reducing our Scope 1 and 2 emissions by 22%. We continue our renewable energy investments without slowing down. With the solar energy systems deployed at 100 base stations in 2023, we have increased our total renewable energy capacity to 4.3 MW,” he noted.
Türk Telekom aims to source 65% of its electricity from renewables in the coming years, targeting a 45% reduction in Scope 1 and 2 emissions by 2030 and net-zero emissions by 2050, said Aktan.
