Ray Chan, one of the founders of the Hong Kong-based web platform 9GAG, has successfully finalized the purchase of the publicly traded entity Howkingtech International, with plans to rebrand it as MemeStrategy. This strategy is designed to promote investments in cryptocurrencies and investigate developments in artificial intelligence (AI).
Regulatory documents filed with the Hong Kong Exchanges and Clearing Limited indicate that the acquisition involves a maximum cash payment of HK$140 million, which is dependent on the execution of all share options before the offer is finalized.
Ray Chan, co-creator of 9GAG, will lead Howkingtech International as part of a strategic approach to engage in the AI, cryptocurrency, and Web3 arenas. Chan stated, “This is the perfect moment to utilize the clear operational framework of public companies to boost market awareness and trust in Web3, while generating long-term value for investors. Our goal is to connect the new economy with traditional finance, aiding Hong Kong in becoming a global hub for virtual assets.”
The transformation to MemeStrategy will be inspired by Michael Saylor’s investment ideology. A press announcement on PR Newswire mentioned that MemeStrategy intends to incorporate Bitcoin and other promising virtual assets into its investment strategy to guarantee sustained value appreciation.