"High-End Dialogue" Wang Feng, Founder of Blueport Interactive: Asia is not an Orphan of Web3; Hong Kong has the Strength to Become a Leading City in Web3

Backed by talent resources from mainland China, Hong Kong has the strength to become a leading city in Web3.

Article Author: 0x9999in1

Source: MetaEra

Recently, MetaEra's Hong Kong section has been launched with great fanfare, leading the series of events for the 'Two-Year Anniversary Celebration of Hong Kong's Cryptocurrency New Policy.' An important part of this is the 'High-End Dialogue: Influential Figures in Hong Kong Web3.0,' with the interviewee being Wang Feng, the founder of Blueport Interactive.

Profile Introduction

Wang Feng, founder of Blueport Interactive, initiator of Mars Finance, co-initiator of Element. He holds a Master's degree in Business Administration from Peking University and has over 20 years of experience in the internet industry. In March 2007, he established Blueport Interactive, experiencing the evolution of China's gaming industry through three eras: PC games, web games, and mobile games.

In 2018, Wang Feng founded Mars Finance, which quickly rose to prominence thanks to its flagship column (Wang Feng's Ten Questions) 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 multiple capital firms, including Sequoia, SIG, and Dragonfly Capital. Wang Feng's contributions to the Web3 field extend beyond founding businesses and investing, as he also promotes and educates on Web3 concepts, sharing important topics such as the ten critical relationships between the NFT market and the Web3 world.

Essence of Opinions

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

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

● In the past Europe, various powers competed; whoever initiated the industrial revolution first would lead the world.

● I believe the two points worth looking forward to in Hong Kong are the stablecoin based on the Hong Kong dollar and the exploration of asset tokenization for listed companies.

● Backed by talent resources from mainland China, Hong Kong has the strength to become a leading city in Web3.

● Numerous listed companies are gradually participating in cryptocurrency, and it feels more like a natural progression.

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

Full Interview Transcript

MetaEra: You started with Kingsoft in the early Web 1.0 era and worked through the internet age, seizing opportunities in web games and mobile games, founding the Hong Kong-listed company Blueport Interactive. In the Web3 era, you have continuously founded entrepreneurial projects like the blockchain media Marsbit and the NFT trading platform Element. The label of 'serial entrepreneur' is certainly one given to you by others. How do you view this identity of a serial entrepreneur?

Wang Feng: Throughout the process of continuous entrepreneurship, I have maintained a competitive spirit and curiosity to seize opportunities, and I also engage in trial and error in areas of interest, continuously enhancing my product and team-building capabilities.

MetaEra: In the past two years, during the waves of Web3, you have put some energy into Twitter operation, often appearing as a KOL figure with sharp opinions and an amiable demeanor. Your Twitter nickname is 'Little Hidden New Decade'; what deeper meanings do 'Little Hidden' and 'New Decade' convey?

Wang Feng: I think it hasn't reached the point of a suitable name yet. It's more of a minor anecdote; I was unfamiliar with Twitter at the beginning and came up with it on a whim, so it doesn't have much deeper meaning.

MetaEra: In your recent tweets, you mentioned, "In investing, it's not about chasing the heat, but about the ability to deep squat." Is this a consistent investment logic you have adhered to for many years? 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 of investing is all about predicting the changes that are occurring. In Kenichi Ohmae's book 'Professionalism,' the four essential abilities required for international professionals are clearly articulated: foresight, conceptualization, persuasion, and adaptability to contradictions, where foresight can be learned and developed. In my view, the emergence of opportunities must have signs and clues; significant opportunities are supported by cutting-edge concepts and highlighted by notable symbolic events.

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

Wang Feng: Frankly speaking, it is currently unclear whether blockchain will become a significant opportunity in gaming.

As for NAGA, it is a tool incubated by our internal team, and externally, we will promote it as a one-stop Web3 gaming platform, providing comprehensive solutions for game developers and players, integrating modules such as a game task system, multi-chain game library, on-chain data, and Web3 gaming identity system.

MetaEra: On October 31, 2022, the Hong Kong SAR published a policy declaration (regarding the development of virtual assets in Hong Kong), which has sparked heightened attention to Hong Kong's Web3 both domestically and internationally. You also relocated from the US to Hong Kong. On 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 global financial market liquidity. The Hong Kong Special Administrative Region published 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: "Web3 does not need Hong Kong; Hong Kong needs Web3." This viewpoint also comes from your observations. What fleeting opportunities and potential challenges do you think the development of Web3 in Hong Kong will face?

Wang Feng: For example, in the past Europe, various powers competed; 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 stablecoin based on the Hong Kong dollar, which has a high probability of being implemented and developed smoothly into the next stage; second, exploring the tokenization of listed company assets, which, if successful, would be a significant event in the cryptocurrency market's RWA concept.

MetaEra: The global competition for Crypto Cities has begun, with Hong Kong, Singapore, and Dubai exhibiting a competitive spirit in the Web3 direction. You also vividly liken this to a 'Three City Chronicle.' What focal points do you think these three regions have 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 of Web3. Overall, all three cities have relatively developed financial service foundations. Especially for Hong Kong, a unique advantage is its backing of talent resources from mainland China, giving Hong Kong the strength to become a leading city in Web3.

MetaEra: Previously, Cai Wensheng's Meitu company purchased Bitcoin as a reserve asset, followed by Blueport Interactive purchasing Bitcoin to enter Web3. Recently, JD.com's Hong Kong subsidiary, JD Coin Chain 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 endorsement of Web3, or does the Web3 world need fresh blood?

Wang Feng: This year, with the approval of Bitcoin ETFs in the US market and the launch of Ethereum ETFs in the Hong Kong market, it marks a new stage of integration between digital assets and the traditional financial system. Numerous listed companies are gradually participating in cryptocurrency, and there is no mutual dependency in the sense of 'I need you' or 'you need me'; 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 position as an international financial center and virtual asset hub.

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

Wang Feng: The essence of Web3 is built on a decentralized network, oriented towards application solutions, so its form is puzzle-like and composable.

Furthermore, the integration of Web3 and AI technologies should explore more possibilities, which is crucial for building the next generation of internet infrastructure and unlocking 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 continuous technological advancement and the expansion of application scenarios, the fusion of Web3 and AI will undoubtedly become an important trend in future development.