Foresight News reported on the spot that in the theme event "The Future of Tokenization" at the main venue of the "2023 Hong Kong Web3 Carnival", Xiao Feng, Chairman of Wanxiang Blockchain and Chairman of HashKey Group, delivered a closing keynote speech "Three Token Models for Web3 Applications" ", said that the application of Web3 must meet the needs of all aspects. The token model of the Web3 application level is different from the token model of the basic protocol. The basic protocol is a single token model, which should be unified globally. The application protocol is a three-token model. Each application scenario has its own characteristics. In the three-token model, the first is NFT (data, product and service value), the second is functional Token (use right value), and the third is security Token (ownership value, that is, equity value). NFT is not just artwork, avatars, but also self-created, self-managed, and self-certified. The source of value of NFT is Play NFT to Earn and Play NFT to Owns, which can connect Web2 and Web3, the real world and the virtual world, offline and online, chain and chain, commodities and scenes, etc. If the functional Token is designed If the law is not clear enough, it may involve the issuance of securities. The basic principles of functional Token design include, similar to ecological points, free gifts, used to motivate users and start the market, there should be no financing activities such as issuance, sales, subscription, etc. The price discovery depends on the secondary market, and it is not on the company’s balance sheet. assets. The source of value uses the "permission" of the network, pays gas fees or commissions with tokens, and the company uses part of the profits to repurchase, etc. Security Token is the tokenization of equity. The nature of security tokens is the same as that of stocks. STO can be carried out on virtual asset exchanges. After STO, it is equivalent to selling on the global network of the public chain. It is on the same exchange as functional tokens, which can combine users and investors. "Web3 Festival" (Web3 Festival) is a Web3 event brand jointly launched by Wanxiang Blockchain Lab and HashKey Group, and hosted by W3ME. This year's "Web3 Carnival" will last from April 12 to April 15, and will focus on the core issues of various Web3 tracks such as regulatory policies, Web3 infrastructure, and Metaverse.