The Web3 strategy and layout of listed companies have become an increasingly hot topic of public interest. Against this backdrop, MetaEra formally launched a series of executive interviews with high-end dialogue on cryptocurrency concept stocks. We will converse with those corporate leaders who dare to lead in the wave of digital transformation, delving into their strategic layouts, business innovations, and financial innovations from the first-person perspective of decision-makers, providing forward-looking insights for industry participants.
The guest of this interview is Dai Zhikang, chairman of the board of Boya Interactive. Boya Interactive (0434.HK) was listed in Hong Kong in 2013, primarily engaged in online gaming. Under the leadership of Dai Zhikang, Boya Interactive entered the cryptocurrency asset field in 2023, and its forward-looking cryptocurrency asset investment philosophy has made it a leader in this trend in Asia. In this interview, we deeply explored the strategic vision, bold decisions, and business innovations behind Boya Interactive's transformation, revealing how it stands out in the Web3 track. Meanwhile, Dai Zhikang shared 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
Boya Interactive's transformation stems from its deep accumulation in the online gaming field and the natural fit with Web3 technology. He stated in an interview: "I personally invested in Huobi in 2014 and have been deeply studying and reflecting on blockchain and Web3-related technologies for over a decade. I am very optimistic about the development of the Web3 industry and the growth potential of the Web3 ecosystem. Boya Interactive has been deeply engaged in the online gaming field for the past 20 years, and games have a natural intersection with Web3. We want to leverage our advantages to create quality Web3 game products." He pointed out that the game tokens in board games are essentially similar to stablecoins, which means that game users are likely to become new users of Web3, while quality Web3 game products could bring explosive user growth to blockchain.
Based on this belief, Boya Interactive announced its entry into the cryptocurrency field in August 2023. The board unanimously approved an investment of over USD 200 million to purchase cryptocurrency assets, including 3,353 Bitcoins. Dai Zhikang emphasized: "The first step in entering Web3 is to possess 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 an appreciation opportunity for stored value, making it very valuable in the long run."
Strategic vision: Hope to become the 'Asian version of MicroStrategy'
The strategic goal of Boya Interactive is clear. Dai Zhikang stated: "We hope to become the Asian version of MicroStrategy. MicroStrategy is a pioneer and model in this field. The attention we are receiving from investors today is also thanks to their successful experience." He believes that MicroStrategy's strategy is correct and their actions decisive. Boya Interactive will learn from their experience and continue to increase 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 theirs to continue increasing our Bitcoin holdings. We hope to maintain at least a leading position in Asia in this field."
Unlike MicroStrategy, Boya Interactive not only focuses on cryptocurrency asset reserves but also integrates gaming with Web3 technology as a core strategy. Dai Zhikang stated: "In addition, we will actively layout in the field of the integration of gaming and 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 volatility in the cryptocurrency market, Boya Interactive has demonstrated strategic determination. Dai Zhikang firmly believes: "Cryptocurrency will become the mainstream asset of the future world, but we are still far from this goal." He emphasized that Bitcoin, as a means of value storage, is supported by a strong public open-source architecture and has long-term anti-inflation potential. Therefore, the company currently has no plans to sell Bitcoin and plans to continue increasing its holdings using secondary market financing and profits from traditional gaming business. Dai Zhikang stated: "Currently, Boya Interactive is already the company with the most Bitcoins among Hong Kong-listed companies, but on a global scale, we are still very insignificant. We hope to continue to increase 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. The company will closely monitor regulatory dynamics.
Business innovation: Actively exploring Web3 games and infrastructure
As of now, Boya Interactive's Web3 strategy has achieved significant results. Dai Zhikang revealed: "Through cryptocurrency asset investment, Boya Interactive's stock price skyrocketed 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 had 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 businesses. Cryptocurrency asset investment has allowed investors to rediscover the value of Boya Interactive. Dai Zhikang stated: "This shows that everyone is very optimistic about the strategic direction of combining Web3 and gaming."
In terms of business innovation, Boya 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 earn have value. The better the game performs, the higher the value of the tokens, and the more benefits players receive while earning money while playing the game." The MTT ESports project that the company invested in is a prime example. Since its launch, it has attracted tens of thousands of users globally in just a few months, with around 60,000 to 80,000 weekly active users. Dai Zhikang expressed optimism about this: "At present, this data is already considered quite impressive in the Web3 industry." Additionally, Boya Interactive has 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 we have recently invested in (such as: MTT ESports, BounceBit). Moreover, we are actively investing in Web3-related infrastructure, such as public chains, wallets, DeFi platforms, etc."
Conclusion: Hong Kong's Web3 and Boya's future
Boya 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 track has upgraded from a 'testing ground' to a 'systemic hub,' showcasing unique competitiveness in its strategic positioning, regulatory innovation, and ecosystem building." Looking at Hong Kong's Web3 development, it firmly believes that Hong Kong is reshaping the Web3 competitive landscape with regulatory certainty and financial infrastructure depth.
Looking to the future, Boya Interactive will continue to drive development through three major strategies: continuously increasing Bitcoin reserves, stable development of traditional gaming business, and R&D and investment related to Web3 games. Dai Zhikang stated: "The group aims to stand undefeated in the future era based on digital cryptocurrency technology through the adjustment of the above three strategies." He believes that as the consensus on Bitcoin strengthens and prices continue to rise, Boya Interactive's value will be discovered by more investors.
