A NEW report, 'Digital Assets and Web3: Insights from the Singapore FinTech Festival 2022' (SFF 2022) jointly produced by Oliver Wyman, Elevandi and the Monetary Authority of Singapore (MAS) examined SFF 2022 participants' presentations and captured shifting sentiments and priorities in the digital assets industry.

The digital assets ecosystem has experienced both the macroeconomic pressures felt in traditional markets and a series of idiosyncratic crises that continue to impact participants. However, despite the wide-ranging and ongoing pressure, the downturn could mark an inflection point, a shift from speculative investment to a focus on infrastructure and utility, from retail-heavy consumption of crypto assets to more institutional adoption of the underlying technology, and from fragmented platforms to open, interoperable systems.