# Meitu Related Articles

For Web3, This Time Cai Wensheng Is Determined to Get His Hands Dirty

Cai Wenshou, a prominent Chinese internet entrepreneur and investor, is making a significant push into the Web3 space with a hands-on approach, moving beyond his previous role as a financial backer. Despite early successes in domains and internet companies like Meitu, his advocacy for Meitu's $100 million cryptocurrency investment in 2021 led to substantial paper losses and public criticism, eventually resulting in his departure as chairman. After stepping down, he reduced his stake in Meitu and invested personal funds into Web3 initiatives. He purchased a 25-story commercial building in Hong Kong, renamed it "CAI Tower" (representing Crypto and AI), offering free rent to Web3 and AI startups in exchange for first investment rights. He also acquired two Hong Kong-listed companies, rebranding them as CAI Holdings and LONG Investment Group, to build a Web3 and AI asset management platform. Additionally, he integrated a licensed virtual asset exchange, EXIO, into his ecosystem, creating a full-cycle support system from incubation to trading. Cai believes in the long-term potential of Web3, comparing its growth trajectory to AI's gradual rise. He remains optimistic about Bitcoin's future, predicting it could reach $1.1 million. Unlike some early crypto figures who have exited the industry, Cai is deepening his involvement, aiming to foster tangible projects and ecosystems. His commitment reflects a broader need for established leaders to drive real-world adoption and achieve a credible, impactful victory for the crypto space.

marsbit03/16 09:45