Business News Report
February 26, 2024

Linekong Interactive Founder Wang Feng Announces Complete Exit, Transfers All Equity and Crypto Investments

In Brief

Wang Feng will transfer of all his equity holdings in GameFi platform Element to Linekong Interactive Group, in a complete company exit.

Linekong Interactive Founder Wang Feng Announces Complete Exit, Transfers All Equity and Crypto Investments

Wang Feng, the founder of Linekong Interactive today announced on platform X that he will transfer all his equity holdings in Element to the Hong Kong-listed company Linekong Interactive Group. The decision aims to integrate NFT assets and GameFi applications platform Element, into the high-quality assets portfolio of Linekong Interactive Group.

Feng’s decision signifies a fundamental shift in his investment strategy, as he declared his intention to refrain from personal equity holdings in crypto projects in the future. Instead, he commited to channeling all investment activities through Linekong Interactive’s assets, marking a bold step towards consolidating the company’s position in the burgeoning crypto market.

“We have officially notified the Hong Kong Stock Exchange to transfer all the equity I hold in Element to the Hong Kong-listed company Linekong Interactive Group Co., Ltd. for free, making Element a part of the high-quality assets held by the listed company. At the same time, I declare that I will no longer hold any equity in Crypto projects in my personal capacity in the future. All my investment paths will be through the assets of Linekong Interactive,” Wang Feng said on X.

With over 2 million transaction wallet addresses, Element has demonstrated remarkable growth — turning losses into profits since the beginning of the year. The platform’s versatility is underscored by its support for various mainstream public chains and second-tier networks, positioning it as a prominent player in the Web3 landscape.

Element Ushers in the New Era of Crypto Governance

Feng’s equity transfer is not merely a financial transaction but a move to catalyze further growth in the crypto space. By integrating Element into Linekong Interactive Group’s assets, Feng aims to stimulate investor interest in launching Decentralized Autonomous Organizations (DAOs), thereby ushering in a new era of decentralized corporate governance.

Looking ahead, Linekong Interactive Group outlined its priorities in the crypto domain. These include ramping up investment in the LK Venture brand for asset management, enhancing support for Element as an NFT trading platform through increased R&D talent and financial backing, and venturing into Bitcoin mining with investments in EcoPowX.

Feng’s return to Linekong Interactive as CEO last year has paved the way for investments in Web3 projects, aligning with the company’s forward-looking approach. By integrating his extensive Web3 entrepreneurial and investment experience with Linekong Interactive Group’s established legacy in Internet entrepreneurship, Feng positions the company as a formidable player in the crypto market.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

More articles
Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

Hot Stories
Join Our Newsletter.
Latest News

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Mocaverse Unveils MOCA Tokenomics, Dedicates Over 50% Of Token Supply To Community
Markets News Report Technology
Mocaverse Unveils MOCA Tokenomics, Dedicates Over 50% Of Token Supply To Community
April 12, 2024
Ethereum Foundation Adopts ERC-7621 Draft Along With Basket Token Standard
News Report Technology
Ethereum Foundation Adopts ERC-7621 Draft Along With Basket Token Standard
April 12, 2024
Aelf Incorporates AI Into Its Network, Announces Support For AI Projects Aimed At Blockchain Integration With $50M Fund
Business News Report Technology
Aelf Incorporates AI Into Its Network, Announces Support For AI Projects Aimed At Blockchain Integration With $50M Fund
April 12, 2024
Ronin’s New Sky Mavis Trusted Domain Name System To Safeguard Users Against Malicious Attacks
Business News Report Technology
Ronin’s New Sky Mavis Trusted Domain Name System To Safeguard Users Against Malicious Attacks
April 12, 2024