Ray Chan, co-founder and CEO of the Hong Kong-based entertainment platform 9GAG, recently made headlines by purchasing a Stephen Chow “Nobody” nonfungible token (NFT) for 19.527 Ether, equivalent to approximately $47,300. This acquisition represents a significant premium of 3,155% over the collection’s current floor price of 0.6 Ether, which is about $1,450.
9GAG CEO makes astonishing NFT purchase
The specific NFT purchased by Chan is numbered 889 and features a “Monkey King” theme, distinguished by a rare Sun trait found in less than 0.01% of the collectible series. The Nobody NFT collection was launched earlier this month by Hong Kong director Stephen Chow, renowned for directing the cult classic film “Kung Fu Hustle.”
The collection has garnered substantial attention, surpassing a total trading volume of 10,516 Ether. Collaborating with Chinese-American rapper Jin Au-Yeung, also known as MC Jin, Chow introduced the NFTs last December through the Moonbox platform, a creation of the Hong Kong startup of the same name.
In a unique marketing move, on January 10th, Chow partnered with cryptocurrency exchange OKX to conduct a giveaway event. Out of the total 10,000 Nobody NFTs, 2,500 were distributed during the event, which attracted over 125,000 applicants. This strategic partnership not only amplified the visibility of the NFT collection but also engaged a wide audience within the cryptocurrency community.
Beyond his involvement in the NFT market, Ray Chan oversees Memeland, a Web3 venture studio established by 9GAG. With a keen interest in NFTs, Chan has become an avid collector himself. Despite experiencing challenges amid market fluctuations, Chan views his NFT investments as valuable learning experiences that inform his approach to Web3 projects.
Navigating the web3 landscape
Reflecting on his journey into the world of NFTs, Chan acknowledges the volatile nature of the market but remains optimistic about its potential. In a recent interview with Cointelegraph, he shared insights gained from navigating the highs and lows of the NFT space during market booms and corrections. These experiences have shaped his perspective on building resilient and innovative projects within the Web3 ecosystem.
As part of its commitment to embracing emerging technologies, 9GAG is actively seeking talent in the blockchain space. The company is currently recruiting a blockchain engineer tasked with developing robust, gas-efficient, and secure Smart Contracts on the Ethereum blockchain. This hiring initiative underscores 9GAG’s dedication to integrating blockchain technology into its platform and exploring new opportunities in the decentralized space.
In addition to its core mission of curating and sharing trending memes and internet phenomena, 9GAG continues to expand its horizons by venturing into the realm of Web3. With a focus on innovation and adaptation, the company seeks to stay ahead of the curve in an ever-evolving digital landscape.
In summary, Ray Chan’s acquisition of a Stephen Chow “Nobody” NFT highlights the growing intersection between entertainment, technology, and blockchain. As the NFT market continues to evolve, partnerships between industry leaders like Stephen Chow, MC Jin, and platforms such as 9GAG demonstrate the potential for creativity and collaboration within the burgeoning digital asset space.
