ChainCatcher news: At the theme event "The Future of Tokenization" at the main venue of the 2023 Hong Kong Web3 Carnival, Xiao Feng, Chairman of Wanxiang Blockchain and Chairman of HashKey Group, delivered the closing keynote speech "Three Token Models for Web3 Applications", stating that Web3 applications must be in demand in all aspects, and the token model at the Web3 application level is different from the token model of the basic protocol. The basic protocol is a single token model, which should be unified globally, and the application protocol is a three-token model, with different application scenarios. Among the three-token models, the first is NFT (data, product and service value), the second is functional token (use right value), and the third is security token (ownership value, that is, equity value).