The Web3 strategies and layouts of listed companies have become a hot topic of increasing public interest. Against this backdrop, MetaEra officially launched the “High-End Dialogue” series of interviews with executives of crypto concept stocks. We will engage in conversations with those pioneering business leaders in the wave of digital transformation, exploring their strategic layouts, business innovations, and financial innovations from the decision-makers' first perspective, providing forward-looking insights for industry participants.

The guest of this interview is Dai Zhikang, Chairman of the Board of Boyaa Interactive. Boyaa Interactive (0434.HK) was listed in Hong Kong in 2013, primarily engaged in online gaming. Under Dai Zhikang's leadership, Boyaa Interactive ventured into crypto assets in 2023, and its forward-thinking investment philosophy in crypto assets has positioned it as a leader in this trend in Asia. In this interview, we delve into the strategic vision, bold decisions, and business innovations behind Boyaa Interactive's transformation, revealing how it stands out in the Web3 arena, while Dai Zhikang shares profound insights on the future of Web3 and Hong Kong's critical role in the global Web3 competition.

Transformation Opportunity: The Natural Fit Between Online Gaming and Web3 Technology

Boyaa Interactive's transformation stems from its deep accumulation in the online gaming field and the natural fit with Web3 technology. He stated in the interview: "I personally invested in Huobi in 2014 and have over a decade of experience, conducting in-depth research and thinking about blockchain and Web3-related technologies. I am very optimistic about the development of the Web3 industry and the growth potential of the Web3 ecosystem. Boyaa Interactive has been deeply engaged in the online gaming field for the past 20 years, and gaming has a natural connection with Web3. We want to leverage our advantages to create high-quality Web3 gaming products." He pointed out that the game currency in board games is essentially similar to stablecoins, which means that game users are likely to become new users of Web3, and high-quality Web3 gaming products could lead to explosive user growth for blockchain.

Based on this belief, Boyaa Interactive announced its entry into the crypto field in August 2023, with the board unanimously approving an investment of over $200 million to purchase crypto assets, including 3,353 bitcoins. Dai Zhikang emphasized: "The first step in entering Web3 is to own digital assets, and bitcoin is undoubtedly the first choice. In the short term, bitcoin has high volatility, but in the long term, it has the potential to resist inflation, providing appreciation opportunities for stored value, making it very valuable in the long run."

Strategic Vision: Aspiring to be the "Asian MicroStrategy"

Boyaa Interactive's strategic goal is clear. Dai Zhikang stated: "We very much hope to become the Asian version of MicroStrategy. MicroStrategy is a pioneer and model in this field, and the attention we receive from investors today is also thanks to their successful experience." He believes that MicroStrategy's strategy is correct and decisive, and Boyaa Interactive will learn from its experience to continue increasing its bitcoin holdings to maintain its leading position in Asia. He further pointed out: "We will also learn from MicroStrategy's successful experience and do not rule out adopting a financing strategy similar to MicroStrategy to continuously increase our bitcoin holdings. We hope to at least maintain our leading position in Asia in this field."

Unlike MicroStrategy, Boyaa Interactive not only focuses on crypto asset reserves but also integrates gaming with Web3 technology as its core strategy. Dai Zhikang stated: "In addition, we will actively layout in the field of integrating gaming with Web3 technology, creating and issuing new digital assets through gaming and investment. This may be a significant difference between us and MicroStrategy." This strategy aims not only to enhance the company's own value but also to drive the development of the Web3 ecosystem through innovation.

In the face of market volatility, Boyaa Interactive has demonstrated strategic resilience. Dai Zhikang firmly believes: "Cryptocurrency will become a mainstream asset in the future world, but we are still far from that goal." He emphasized that bitcoin, as a means of value storage, is supported by a strong public open-source architecture and has long-term potential to resist inflation. Therefore, the company currently has no plans to sell bitcoin and plans to continue increasing its holdings through secondary market financing and profits from traditional gaming business. Dai Zhikang stated: "Currently, Boyaa Interactive is the company with the most bitcoin holdings among Hong Kong-listed companies, but on a global scale, we are still insignificant. We hope to continue increasing our bitcoin holdings to maintain our leading position in this field."

Regarding the recent hot topic of stock tokenization, although stock tokenization is currently not feasible due to existing legal restrictions in Hong Kong, Dai Zhikang believes it is an important development trend that will serve as a bridge between traditional finance and Web3, and the company will closely monitor regulatory dynamics.

Business Innovation: Actively Exploring Web3 Games and Infrastructure

So far, Boyaa Interactive's Web3 strategy has achieved significant results. Dai Zhikang revealed: "Through crypto asset investments, Boyaa Interactive's stock price soared from HKD 0.5 to HKD 8.2, an increase of nearly 17 times." This growth reflects the market's recognition of the company's Web3 strategy. He pointed out that the company's market value has long been underestimated, with a market value of only HKD 400 million in 2023, while cash assets reached HKD 1.7 billion, not including traditional online gaming business. The investment in crypto assets has allowed investors to rediscover Boyaa Interactive's value. Dai Zhikang stated: "This shows that everyone is very optimistic about the strategic direction of integrating Web3 and gaming."

In terms of business innovation, Boyaa Interactive is actively exploring the development of Web3 games, emphasizing that the difference from traditional games lies in profit distribution. Dai Zhikang explained: "The biggest difference between Web3 games and traditional games is reflected in profit distribution. In Web3 games, the tokens that users can obtain have value. The better the game performs, the higher the token value, and the more benefits players receive, allowing them to earn money while playing." The MTT ESports project that the company invested in is the best example; since its launch, it has attracted tens of thousands of users globally within just a few months, with weekly active users around 60,000 to 80,000. Dai Zhikang is optimistic about this: "Currently, this data is already considered quite impressive in the Web3 industry." In addition, Boyaa Interactive has also invested in Web3 infrastructure, such as public chains, wallets, and DeFi platforms, to build a complete ecosystem. Dai Zhikang mentioned: "Some of the gaming projects the group recently invested in (such as MTT ESports, BounceBit) are examples. Additionally, we are actively investing in Web3-related infrastructure, such as public chains, wallets, and DeFi platforms."

Conclusion: Hong Kong's Web3 and Boyaa's Future

Boyaa Interactive's transformation benefits from Hong Kong's unique advantages as a global Web3 hub. Dai Zhikang pointed out: "We are fortunate to be in Hong Kong, a proactive and pioneering market. Hong Kong's role in the global Web3 arena has upgraded from a 'testing ground' to an 'institutional hub,' showcasing unique competitiveness in strategic positioning, regulatory innovation, and ecosystem building." Looking at Hong Kong's Web3 development, he firmly believes that Hong Kong is reshaping the Web3 competitive landscape with regulatory certainty and robust financial infrastructure.

Looking ahead, Boyaa Interactive will continue to drive development through three major strategies: continuously increasing bitcoin reserves, steady development of traditional gaming business, and research and investment related to Web3 games. Dai Zhikang stated: "Through the adjustment of these three strategies, the group aims to stand undefeated in the future era based on digital encryption technology." He believes that as bitcoin consensus strengthens and prices continue to rise, Boyaa Interactive's value will be recognized by more investors.