M2E startup Tracer won the Block Festa 2022 Web3 Startup Pitching Contest.

Tracer got the highest score for effectively analyzing the merits of the M2E craze driven by Stephen and the reason the project collapsed in a short time and suggested an alternative.

The second place went to Marina Chain. The third co-winners were Lemon Chain and AM Management.

The Block Media held the contest as part of the Block Festa 2022 event on Nov.2 at the Uprise Lounge in  Seoul. Ten finalist teams unveiled their business vision before domestic and foreign venture capital (VC) judges.

Four teams were honored with the award. The winning team will receive special benefits such as prize money, investment opportunities, and an exclusive interview with the Block Media. The prize money is three million won for first place, two million for second place, and one million for third place.

The contest judges include representatives from Hashed, a41, Creditsand, Foresight Ventures, and BKEX Labs.

The other participating teams included D-Run, Hi-Protocol, Enbrick Partners, Santa Delivery, ReverseDAO, and Clear File.

# First winner, Tracer

CEO Tracer Jacob is pitching at the Block Festa 2022 Web3 Pitching Competition.

Tracer received favorable reviews in Business Model. "I look forward to a BM structure that analyzes and supplements the real reason for Stephen's collapse," said Creditsand chief technology officer Owen.

Hashed judge Han Sang-woo evaluated, "We are aware of the problems of the existing M2E model, and we are trying to prove our business through various demand verification methods."

Park Kwang-seong, CEO of a41, praised, saying, "The reason for doing the crypto business is the most obvious, and there was a BM."

There was also an evaluation by BKEX Labs that members with backgrounds and experience in the industry were an advantage.

# Second place, Marina Chain

Chief Vision Officer of Marina Chain Kim Da-won Kim is pitching at the contest.

Marina Chain scored high for its in-depth knowledge of the eco-friendly ship blockchain business. CEO of a41 Park Kwang-seong said, "Marina Chain team's knowledge of the industry was high."

# Tied for third place. Lemon Chain and AM Management

△ Lemon chain

Lemon Chain CEO Kwon Ki-wook is pitching at the Block Festa 2022 Web3 Pitching Competition.

Lemon Chain has been well-received for making a real case for the medical blockchain business.

Although the team's understanding of the industry was high, there were aspects to be reinforced as a blockchain business. 

△ AM Management

AM Management Kim Gye-om is pitching. CEO Kim Ho-joong hosted a Q&A

session.

AM Management is a decentralized quant trading service that has received a high mark for business feasibility.

"It seems that decentralized quant trading services may have more needs than copy trading. B2B asset management is also expected, said  CreditSands chief technology officer Owen.

Judges gave high scores for its decentralized platform was an advantage.

Block Media, Korea's first media specializing in blockchain and digital asset markets, holds the Block Festa conference yearly. This year, we discussed with experts what to prepare for innovation under Spring of Web3.