High-End Dialogue: Wang Feng, Founder of Blueport Interactive: Asia is not an orphan in Web3, and Hong Kong has the strength to become a leading city in Web3.

Article Author: 0x9999in1

Source: MetaEra

Recently, MetaEra Hong Kong has launched a major initiative, leading the series of events for the 'Two-Year Anniversary Celebration of Hong Kong's Cryptocurrency New Policy,' which includes an important segment titled 'High-End Dialogue: Influential Leaders of Hong Kong Web3.0.' This issue's interviewee is Wang Feng, founder of Blueport Interactive.

Profile Introduction

Wang Feng, founder of Blueport Interactive, initiator of Mars Finance, and co-founder of Element. He holds an MBA from Peking University and has over 20 years of experience in the internet industry. He founded Blueport Interactive in March 2007, experiencing three eras of the Chinese gaming industry: PC games, web games, and mobile games.

In 2018, Wang Feng founded Mars Finance, and with the flagship column 'Wang Feng's Ten Questions,' the platform quickly rose and received investments from OK, Huobi, Binance, and MitrixPort. In 2021, Wang Feng co-founded the NFT trading platform Element and secured $11.5 million in funding led by Sequoia, SIG, Dragonfly Capital, and other investors in the same year. Wang Feng's contributions to the Web3 field are not limited to founding companies and investments; they also include his promotion and education of Web3 concepts, such as sharing the ten significant relationships between the NFT market and the Web3 world.

Key Insights

● The emergence of opportunities must have signs and clues; significant opportunities are supported by cutting-edge concepts and are highlighted by notable symbolic events.

● I believe the SAR government has reason to see the value of cryptocurrency for financial market innovation.

● In Europe back then, various powers vied for dominance; whoever initiated the industrial revolution first would lead the world.

● I believe there are two points worth looking forward to in Hong Kong: the introduction of a Hong Kong dollar-backed stablecoin and the exploration of the tokenization of listed company assets.

● With the backing of mainland China's talent resources, Hong Kong has the strength to become a leading city in Web3.

● Many listed companies are successively participating in cryptocurrency; it feels more like a natural progression.

● Hong Kong, Singapore, and Dubai are all Asian cities, indicating that Asia is not an orphan in Web3.

Full Interview

MetaEra: You started with Kingsoft in the early Web 1.0 era, then moved on to the internet era, seizing the opportunities of web and mobile games, founding the Hong Kong-listed company Blueport Interactive. In the Web3 era, you have successively founded blockchain media Marsbit, NFT trading platform Element, and other entrepreneurial projects. 'Serial entrepreneur' must be one of the labels others give you. How do you view this identity of a serial entrepreneur?

Wang Feng: Throughout the process of being a serial entrepreneur, I have maintained a competitive spirit and curiosity to capture opportunities, and I also conduct trial and error in areas I am interested in, continuously enhancing product and team-building capabilities.

MetaEra: In the past two years, amidst the tide of Web3, you have devoted part of your energy to Twitter operations, often appearing as a KOL with sharp opinions and a likable demeanor. Your Twitter nickname is 'Xiao Yin Xin Shi Nian,' what deep meanings do 'Xiao Yin' and 'New Decade' convey?

Wang Feng: I don't think it's suitable for a proper name yet. It's more of a little episode; I was unfamiliar with Twitter at the beginning, and I came up with it on a whim, so it doesn't really have much deep meaning.

MetaEra: In a recent tweet, you mentioned that 'investing is not about chasing the hot trend, but about the ability to deep squat.' Is this a long-standing investment logic you adhere to? You have deeply participated in both early internet investments and Web3 era investments. What are the differences in investment attributes between the two?

Wang Feng: The logic behind investing is to anticipate the changes that are happening. The globally renowned management guru Kenichi Ohmae clearly outlines in his book 'Professionalism' the four essential abilities required for international professional talent: foresight, conceptualization, negotiation skills, and the ability to adapt to contradictions, among which foresight can be learned and cultivated. In my view, the emergence of opportunities must have signs and clues; significant opportunities are supported by cutting-edge concepts and are highlighted by notable symbolic events.

MetaEra: Reading your resume, one can find that you have significant advantages in game development, design, and operations. However, upon entering the Web3 era, you chose to engage in media, NFT trading, and investment. Although you launched the NAGA Web3 gaming platform, you haven't aggressively pursued this Web3 gaming venture. How do you consider this?

Wang Feng: To be honest, it's currently unclear whether blockchain will become a significant opportunity in gaming.

As for NAGA, it is an internal team incubating a tool, which we will promote externally as a one-stop Web3 gaming platform, providing comprehensive solutions for game developers and players, integrating game task systems, multi-chain game libraries, on-chain data, Web3 game identity systems, and other modules.

MetaEra: On October 31, 2022, the Hong Kong Special Administrative Region issued a policy declaration regarding the development of virtual assets in Hong Kong, which also sparked significant attention from both domestic and international circles regarding Hong Kong Web3. You yourself relocated from the United States to Hong Kong. On the occasion of the second anniversary of the new policies in Hong Kong, how do you view this event? Has it impacted you personally or your company?

Wang Feng: Hong Kong is part of the global financial market, and the Hong Kong dollar is pegged to the US dollar, making it a gateway for the Chinese market to participate in the global financial market's liquidity. The Hong Kong SAR issued a policy declaration regarding the development of virtual assets in Hong Kong, and I believe the SAR government has reason to see the value of cryptocurrency for financial market innovation.

MetaEra: 'It's not that Web3 needs Hong Kong, but that Hong Kong needs Web3.' This viewpoint also comes from your observations. In your opinion, what fleeting opportunities and potential challenges will the development of Web3 in Hong Kong face?

Wang Feng: For example, in Europe back then, various powers vied for dominance; whoever initiated the industrial revolution first would lead the world.

I believe there are two points worth looking forward to in Hong Kong: first, the launch of a Hong Kong dollar-backed stablecoin, which is likely to be implemented and executed successfully, leading to the next stage of development; second, the exploration of the tokenization of listed company assets, which could be a significant event in the cryptocurrency market's RWA concept if successful.

MetaEra: The global competition for Crypto Cities has begun, with Hong Kong, Singapore, and Dubai showing a competitive momentum in Web3. You vividly likened this to the 'Three City Chronicles.' What do you think are the focuses of these three regions in the direction of Web3, and who can become the new generation of Web3 metropolis?

Wang Feng: Hong Kong, Singapore, and Dubai are all Asian cities, indicating that Asia is not an orphan in Web3. Overall, all three cities have relatively developed financial service foundations. Especially in Hong Kong, a unique advantage is its backing by mainland China's talent resources, making Hong Kong capable of becoming a leading city in Web3.

MetaEra: Previously, Meitu's Cai Wensheng purchased Bitcoin as a reserve asset, followed by Blueport Interactive entering Web3 with Bitcoin purchases. Recently, JD Hong Kong's subsidiary, JD Coin Blockchain Technology Co., Ltd., also entered the sandbox list for Hong Kong dollar stablecoins. It seems that more and more traditional companies are entering Web3 in various ways. Do you think companies need the support of Web3, or does the Web3 world need fresh blood to flow in?

Wang Feng: Just this year, with the passage of the Bitcoin ETF in the US market and the opening of the Ethereum ETF in the Hong Kong market, this marks a new stage of integration between digital assets and the traditional financial system. Many listed companies are participating in cryptocurrency, and there are no conflicting interests between us; it feels more like a natural progression. Moreover, this process not only provides investors with new asset allocation choices but also further solidifies Hong Kong's status as an international financial center and virtual asset hub.

MetaEra: From your personal perspective, what suggestions do you have regarding entrepreneurship in Web3 in terms of partners, strategic deployment, and business models?

Wang Feng: The essence of Web3 is built on decentralized networks, aimed at application-oriented solutions, so its form is modular and combinable.

Moreover, the integration of Web3 and AI technology should be explored further, as it is crucial for building the next-generation internet infrastructure and releasing the value of data and computing power. This integration can not only drive technological innovation but may also reshape the landscape of the digital economy, bringing more autonomy and value to users. With the continuous advancement of technology and the expansion of application scenarios, the integration of Web3 and AI will undoubtedly become an important trend in future development.