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Netease CEO Ding Lei: I Have Never Owned Bitcoin

An anonymous trader has sunk 1 billion dollars to buy 96,000 bitcoins recently and the mysterious whale is possibly be William Ding Lei, the low-profile founder and CEO of Chinese gaming giant Netease (NASDAQ:NTES), according to a website.

Shortly afterwards, Ding Lei quashed the rumor by saying that he has never owned a bitcoin , but is concerned about the development of blockchain technology on his Wechat Moments.


Ding Lei is without doubt a blockchain enthusiast. In early January, Mr. Ding participated in the early financing of ArcBlock, a US blockchain startup which is claimed as the world’s first blockchain ecosystem for building and deploying decentralized blockchain applications. He also serves as an adviser for this decentralized project.

As an increasing number of Chinese companies,especially technology giants, hop onto the blockchain wagon, NetEase certainly would not miss the golden opportunity. The company churned out two blockchain products in the past month : a game entitled Beckoning Cat and an application called Planet of Force.


The blockchain-based game “Beckoning Cat” ,quite similar to CryptoKitties, is a game that allows users to breed and trade various virtual kittens using virtual currencies.Although the website advocated it was a blockbuster flagship products, “Beckoning Cat” was finally halted in the beta phase.


The second blockchain product Netease rolled out was Planet of Force, referral code of which were soon posted around in socializing tools like WeChat. The app is currently at the testing stage. Users can be rewarded with Planet’s digital asset “Black Diamond”if they successfully register with an invitation code. However, the app has been questioned to steal user privacy soon.The promotion link of Netease blockchain planet has been prohibited by WeChat because the page contains information that induce sharing and concern.

Blockchain and bitcoin hype is still at a fever pitch,and internet behemoths like Netease will continue to double their efforts in blockchain space, but this field is still awash with  speculators,market manipulators as well as scammers now.


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