Xinhuo Technology recently announced that it will cooperate with Stephen Chow's listed company to establish the Web3 Fund, with the goal of expanding the development of Hong Kong's innovative projects and film intellectual property in Web3.

Xinhuo Technology (formerly Huobi Technology) recently announced that it will jointly establish a Web3 fund with Gaosheng, a subsidiary of Bigo Group, a listed company under Stephen Chow. In the future, Xinhuo Asset Management will serve as an investment manager, responsible for investing in related businesses of intellectual property commercialization. On the other hand, Gaosheng will provide technical and consulting services.

Is Stephen Chow’s metaverse coming?

Founded in 2002, Big Gold Group is one of Hong Kong's film and entertainment companies, with Stephen Chow as its executive director. According to this agreement, Gaosheng, a subsidiary of Big Gold Group, will provide information on the potential for acquisition or monetization of property assets, competitive product analysis, and technical advice on specific IP assets as an entertainment industry expert to assist the fund in performance analysis and risk control.

Xinhuo Technology has stated that it hopes that through this collaboration it will be able to leverage Gaosheng's expertise in film production, cross-border marketing, interactive content and cinema investment to achieve business growth, digitalization and business transformation for both parties. The goal of the fund is to expand Hong Kong's innovative projects and film intellectual property development in Web3.

It is worth mentioning that Stephen Chow’s determination to enter Web3 has long been evident. As early as December last year, he posted a tweet on Instagram to publicly recruit Web3-related talents, and attached a recent photo of Stephen Chow writing the words "Hiring!" on a whiteboard, showing his curiosity and intentions about Web3.

Finding Web3 talent in the dark

Talent requirements: Familiar with Web3, project management experience, smart and kind-hearted

Job scope: Help me build a creative future

Please post a bio video or Web3 work and tag #CreateWithStephen

I will pick the person myself

In addition, when the NFT market was booming last April, Hong Kong creative and digital collectibles team Fwenclub collaborated with Spanish artist Joan Cornellà to launch the "MOAR by Joan Cornellà" NFT series, and one of the NFT works resembled Stephen Chow's masterpiece "Ling Ling". The classic appearance of "The Man with the Golden Gun" caused controversy in the community. At that time, the star even attended an AMA held on the Discord channel to talk to the community.