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Istanbul Blockchain Week founder Erhan Korhaliller discusses why Turkey is one of the hottest places for crypto

CryptoSlate had the opportunity to sit down with Erhan Korhaliller, Founder & CEO of EAK Digital, the web3 communications and events agency behind some of the industry’s most creative IRL events, as he puts plans together for the much anticipated Istanbul Blockchain Week.

Why is the Turkish market so hot for crypto?

Turkey has been fighting high inflation and interest rates for some time now, a long time before it started seeping into the international market. The official inflation rate of Turkey currently sits at 78.6% for the month of June; this has led Turkish people to look for alternative assets in which to preserve and expand their wealth.

Turkey also has a very successful mobile gaming market; in a recent report, it was stated that 79% of adults in Turkey play games, so people are used to swapping in and out of tokens and coins, and I suspect Turkey will play a key role in the upcoming surge of web3 gaming that we are going to see in the next few years.

What sectors of the web3 industry are particularly hot in Turkey right now?

Turkey has a huge amount of retail traders; this has led to many of the major exchanges building a Turkish presence, including Binance, Huobi and FTX, and more. In my discussions with exchanges, I have been told regularly that Turkey is in the top 2/3 markets for trading on their platforms. In addition to the international exchanges, there are big national exchanges currently posting huge volumes, such as BTC Turk and Paribu. 

Turkey has always been a huge market for mobile gaming, and there continues to be an extremely large gaming community in Turkey that are ripe to be onboarded into web3. We plan to enable that at Istanbul Blockchain Week at our W3E championships, the world’s first Web3 gaming championships.

What inspired you to organise Istanbul Blockchain Week?

Other than my Turkish heritage, as the founder of EAK Digital, a web3 creative communications agency since 2017, we have partnered with many events as their PR partner as well as worked with high-profile clients such as Binance, XX Network, Theta Network, Neo, etc., as…

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