According to ChainCatcher, the first module of the Wanwu Creation Camp has officially started in Hong Kong Cyberport. In "How to Choose the Right Time Track and Ecological Niche in the Web3 and AI Era", Xiao Feng, the initiator of Wanwu Island, said, "The three-token model of Web3 applications, NFT is a commodity right, functional token is a right of use, and security token is ownership. Among them, functional tokens are not securities under the Hong Kong Securities Law, but only corporate points. There cannot be financing activities such as issuance, sale and subscription, nor are they assets on the company's balance sheet. Price discovery relies on the secondary market, but compared to points, the advantage is that it is issued through ERC20, which is open and transparent, and is given to users for free through a reward model. The initial issuance will not be sold but given away. Even if the price in the secondary market is very high, it is only a market behavior. The initial opening price of token holders in the secondary trading market is determined by the market through the Dutch auction on the chain. The value sources of functional tokens include "permission" to use the network, using tokens to pay gas fees, using tokens to pay commissions, companies using part of their profits to repurchase, community governance rights certificates, limited airdrops and joining the whitelist, network effects and value units."

It is reported that the "Wanwu Creation Camp" is an Eastern Entrepreneur Acceleration Program initiated by the Wanwu Island community. 22 senior coach experts have been involved in coaching. It is also the first entrepreneurship camp officially co-organized by Hong Kong Cyberport. Wanwu Island is committed to becoming a long-term partner of high-value projects and is a Chinese science and technology alliance force that cannot be ignored.