Hainan Huatie's Web3 Attempt Sparks Controversy

Recently, Hainan Huatie has become a hot topic in the digital asset and stock market. The "Wasp Brother NFT" launched by the company has seen a price surge in a short period of time, while also announcing the completion of the first batch of non-financial RWA (Real World Asset) product issuance. These moves are seen by some as a signal for listed companies to venture into Web3, but in reality, there may be numerous legal and regulatory risks.

Analysis of NFT and RWA Projects

The "Wasp Brother" NFT launched by Hainan Huatie is not only a digital collectible but also comes with the rights to "brand promotion revenue" for three consecutive years. Holders need to activate and lock the NFT within a specific timeframe to become a "brand promotion ambassador," receiving cash benefits equivalent to the dividend amount of 50,000 shares of company stock each year from 2025 to 2027.

The company also announced the completion of the first batch of 10 million yuan non-financial RWA product issuance. This product performs "digital mapping" of the usage and operational rights of the equipment, forming a structure similar to a "digital membership card", allowing users to circulate through on-chain transfers, consignment, etc., while enjoying certain usage rights or benefits.

Potential Issues and Risks

1. Unclear equity structure: The realization of profits from NFTs and RWAs relies on the company's willingness, lacks legal protection, making it difficult for users to defend their rights.

2. The combination of speech control and profit incentives: The company reserves the right to revoke user rights, which may suppress users' freedom of expression.

3. Ambiguous boundaries of financial products: RWA structures are close to "quasi-financial products", which may involve illegal fundraising risks.

4. Weak legal structure: The NFTs purchased by users are essentially just a qualification for an event, lacking legal guarantees and judicial enforceability.

5. Compliance Issues: The project may not have adequately considered key issues such as compliance, contracts, and governance.

Advice for Users and Entrepreneurs

For ordinary users, it is necessary to treat these types of products with caution and understand the risks associated with their inherent lack of legal protection. For Web3 entrepreneurs, such operations should not be viewed as industry standards, but rather innovation should be conducted on a compliant basis.

Overall, Hainan Huatie's attempts, although attracting widespread attention, raise questions about their legality, transparency, and sustainability. When innovating in the Web3 space, it is essential to comply with laws and regulations rather than merely testing the regulatory limits.