WalletConnect x BQ AMA Campaign Report

Korean Cryptocurrency Market Context

South Korea has emerged as one of the most dynamic cryptocurrency markets globally, with significant growth trajectory throughout 2024. The Korean cryptocurrency market nearly doubled to approximately 108 trillion won ($77.5 billion) by the end of 2024, representing one of the most substantial year-over-year increases in the region.

The market demonstrates exceptional retail participation, with over 9.7 million verified users eligible to trade digital assets as of year-end 2024, representing approximately 20% of the country's total population. This represents a 25% increase from mid-year, indicating rapid adoption momentum.

The demographic distribution shows investors in their 30s leading participation at 29%, followed by those in their 40s at 27%, highlighting the tech-savvy nature of Korean crypto investors. Daily average trading volume reached 7.3 trillion won, while deposits in Korean currency at domestic exchanges more than doubled to 10.7 trillion won, demonstrating robust liquidity and investment appetite.

This market environment presents significant opportunities for international blockchain projects seeking to establish presence and community engagement in Korea, particularly for infrastructure projects like WalletConnect that enable seamless Web3 experiences.

WalletConnect Project Status

WalletConnect has positioned itself as a leading cross-chain user experience ecosystem, enabling seamless wallet-to-application connectivity across multiple blockchain networks. As of 2024, the WalletConnect Network has achieved remarkable adoption metrics, supporting over 48 million unique active wallets and facilitating more than 300 million connections across its ecosystem.

WalletConnect Token (WCT) Launch

The project entered a significant expansion phase in 2024 with the introduction of its native WalletConnect Token (WCT), which serves as the network's utility token for staking, rewards, fees, and governance functions. The token launched initially on Ethereum and Optimism, with a major milestone announcement at Solana Accelerate regarding expansion to the Solana ecosystem through Wormhole's Native Token Transfers (NTT).

WalletConnect's development roadmap includes activating new governance tools for WCT holders, introducing token-based incentives for applications, wallets, and users, and expanding WCT availability to additional blockchain networks. The project has demonstrated strong institutional adoption, with over 90% of mainstream DApps integrating WalletConnect protocol.

Korean Market Penetration Strategy

The Korean market represents a strategic opportunity for WalletConnect due to several key factors. Korea's exceptionally high internet penetration rate and tech-savvy population create an ideal environment for Web3 infrastructure adoption. With 20% of the population actively trading cryptocurrencies and daily trading volumes exceeding 7.3 trillion won, Korean users represent a highly engaged and financially active demographic for blockchain applications.

WalletConnect's cross-chain compatibility aligns with Korean investors' diverse portfolio preferences, as the market shows strong participation across multiple blockchain ecosystems. The project's focus on user experience improvements addresses a key pain point in the Korean market, where seamless wallet connectivity can significantly impact user adoption and retention.

The timing of the campaign coincided with WalletConnect's preparation for the 5 million WCT token distribution to the Solana community, positioning the Korean market as a bridge between traditional blockchain ecosystems and emerging high-performance networks like Solana.

Campaign Execution Details

Pre-Event Phase

A comprehensive pre-event strategy was implemented through a Google Forms questionnaire system, allowing community members to submit questions in advance. This approach enabled better preparation and ensured relevant, high-quality discussion topics during the live session. The pre-event reward allocation of $250 USDT incentivized early engagement and question submission.

Live AMA Session

The campaign featured a direct appearance by WalletConnect's founder, providing authenticity and high-level technical insights about the project's development roadmap and token utility. The Twitter Live format was strategically chosen to maximize reach and enable real-time community interaction, with simultaneous reward distribution of $250 USDT for active participants.

The live session format allowed for real-time Q&A interaction, enabling Korean community members to directly engage with WalletConnect leadership and gain insights into the project's strategic direction. The founder's participation demonstrated the company's commitment to building meaningful relationships with the Korean crypto community.

Campaign Results

The WalletConnect x BQ AMA campaign achieved substantial engagement metrics, demonstrating the strong appeal of infrastructure projects in the Korean market. The Twitter Live broadcast recorded 910 total views with a duration of 1 hour and 9 minutes, indicating sustained audience engagement throughout the session.

The campaign successfully concluded with meaningful community interaction and educational value delivery. The reward distribution strategy proved effective in maintaining participant engagement, with the total 500 USDT reward pool being distributed as planned across pre-event and live session activities.

"The timing and execution aligned well with WalletConnect's broader expansion strategy, particularly the upcoming Solana integration announcement, providing Korean community members with early access to strategic insights about the project's multichain roadmap."

Strategic Impact Assessment

The campaign demonstrates WalletConnect's commitment to building localized community engagement in key Asian markets. The educational format successfully communicated complex technical concepts about cross-chain infrastructure to a broad audience, potentially contributing to increased Korean market awareness and adoption.

The partnership with BQ leveraged established local crypto media relationships, ensuring authentic communication and cultural relevance. This approach represents best practices for international blockchain projects seeking meaningful community engagement in the Korean market.

The campaign's success positions WalletConnect well for continued expansion in Korea, particularly as the project advances its multichain token strategy and governance features throughout 2025 and beyond. The foundation established through this campaign provides a solid base for future Korean market initiatives and community-driven growth.