Recently, Spruce Technology HK Limited, a wholly-owned subsidiary of Kingnet, was officially granted Type 4 (advising on securities) and Type 9 (asset management) licenses by the Securities and Futures Commission (SFC) in Hong Kong.

A previous similar event that attracted widespread attention in Chinese mainland occurred in December last year, when Zhang Yiming, co-founder of ByteDance, acquired a Hong Kong Type 9 license through a subsidiary "Cool River Venture HK Limited".

Geographically, Hong Kong is expediting the process to become a global Web3.0 hub. For Kingnet, which is in an accelerated phase of gaming business globalization while aggressively deploying cutting-edge sectors such as metaverse and Web3.0, these two licenses will serve as pivotal fulcrum for its ecological upgrading: the company can not only attract more international partners to jointly develop AI-driven game development tools and PUGC platforms, but also carry out virtual asset generation in games, trading, and asset management businesses in full regulatory compliance, thereby bridging the "creativity-assets-finance" loop to build a trustable global digital economic ecosystem.

License Is Not the Destination

Forge A More Imaginative "Virtual Asset Manager In Games"

Kingnet has long been actively exploring the deep integration of cutting-edge technologies and capital operations in emerging fields such as Web3.0 and metaverse. As early as 2023, Kingnet disclosed that it could support product integration with Web3.0 from a technical framework perspective, and would maintain sustained attention to the evolution of Web3.0 technologies.

Additionally, Kingnet has proactively established a digital asset platform called "KINGNET CHAIN", dedicated to aggregating diverse creators and gaming brands through blockchain technology in conjunction with Web3.0, metaverse and artificial intelligence to construct a digital art marketing system, establish digital brand IDs, and create a rich and diversified metaverse content ecosystem. Up to now, "KINGNET CHAIN" has released multiple original IPs and brand collaboration digital artworks. By employing a sales model that integrates "digital assets with real economy", it promotes a deep convergence between digital economy and real economy.

On the opening day of the 2024 Paris Olympics, the Olympic-themed digital assets series featuring Kingnet's mascot "K Xiao Huang" was exclusively launched in limited quantities on the "KINGNET CHAIN", with the customized interactive digital asset mini-game "Olympic 'Huang' Family Supporters" simultaneously released. Users can earn exclusive and unique digital asset rewards through gameplay participation, and these digital assets will be intrinsically linked to platform privileges to pioneer a new pathway for the mass adoption and application of the digital assets.

According to market data, "KINGNET CHAIN" has reached a milestone of nearly 200,000 identity-authenticated registered users. In the future, it can assist global market-oriented manufacturers in achieving overseas game digital asset distribution, form a dual-track model of "domestic regulatory-compliant distribution + multi-chain overseas circulation", and provide a one-stop solution spanning from technical infrastructure to trading scenarios for globalization of gaming assets.

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