Kingnet Acquired Type 4 and Type 9 Licenses: Continuously Broadening Business Boundaries and Advancing Global Expansion Layout

July 14, 2025 at 04:01 AM EDT

Introduction: Accelerating progress in virtual asset management business in games and global expansion layout.

HONG KONG, July 14, 2025 - (ACN Newswire) - Recently, Spruce Technology HK Limited, a wholly-owned subsidiary of Kingnet, was officially granted Type 4 (advising on securities) and Type 9 (asset management) licenses by the Securities and Futures Commission (SFC) in Hong Kong.

A previous similar event that attracted widespread attention in Chinese mainland occurred in December last year, when Zhang Yiming, co-founder of ByteDance, acquired a Hong Kong Type 9 license through a subsidiary "Cool River Venture HK Limited".

Geographically, Hong Kong is expediting the process to become a global Web3.0 hub. For Kingnet, which is in an accelerated phase of gaming business globalization while aggressively deploying cutting-edge sectors such as metaverse and Web3.0, these two licenses will serve as pivotal fulcrum for its ecological upgrading: the company can not only attract more international partners to jointly develop AI-driven game development tools and PUGC platforms, but also carry out virtual asset generation in games, trading, and asset management businesses in full regulatory compliance, thereby bridging the "creativity-assets-finance" loop to build a trustable global digital economic ecosystem.

License Is Not the Destination
Forge A More Imaginative "Virtual Asset Manager In Games"

Kingnet has long been actively exploring the deep integration of cutting-edge technologies and capital operations in emerging fields such as Web3.0 and metaverse. As early as 2023, Kingnet disclosed that it could support product integration with Web3.0 from a technical framework perspective, and would maintain sustained attention to the evolution of Web3.0 technologies.

Additionally, Kingnet has proactively established a digital asset platform called "KINGNET CHAIN", dedicated to aggregating diverse creators and gaming brands through blockchain technology in conjunction with Web3.0, metaverse and artificial intelligence to construct a digital art marketing system, establish digital brand IDs, and create a rich and diversified metaverse content ecosystem. Up to now, "KINGNET CHAIN" has released multiple original IPs and brand collaboration digital artworks. By employing a sales model that integrates "digital assets with real economy", it promotes a deep convergence between digital economy and real economy.

On the opening day of the 2024 Paris Olympics, the Olympic-themed digital assets series featuring Kingnet's mascot "K Xiao Huang" was exclusively launched in limited quantities on the "KINGNET CHAIN", with the customized interactive digital asset mini-game "Olympic 'Huang' Family Supporters" simultaneously released. Users can earn exclusive and unique digital asset rewards through gameplay participation, and these digital assets will be intrinsically linked to platform privileges to pioneer a new pathway for the mass adoption and application of the digital assets.

According to market data, "KINGNET CHAIN" has reached a milestone of nearly 200,000 identity-authenticated registered users. In the future, it can assist global market-oriented manufacturers in achieving overseas game digital asset distribution, form a dual-track model of "domestic regulatory-compliant distribution + multi-chain overseas circulation", and provide a one-stop solution spanning from technical infrastructure to trading scenarios for globalization of gaming assets.

Prior to Kingnet's entry, representative overseas gaming companies had already validated the feasibility of this approach by obtaining financial licenses for layout of the virtual asset management business: Hong Kong's Web3 frontrunner Animoca Brands constructed a full-chain management system encompassing metaverse asset distribution and trading by acquiring relevant compliance qualifications. Mythical Games, founded by the former Activision Blizzard core team, has also established itself as a benchmark in the field of blockchain gaming for establishing closed-loop virtual asset value circulation through licensed compliance by implementing secure player asset ownership and trading leveraging the "invisible blockchain technology" under a compliant framework in flagship titles like Blankos Block Party.

With the acquisition of Type 4 and Type 9 licenses, Kingnet may further broaden its business boundaries in relevant fields such as virtual social interaction and blockchain gaming. By generating assets through gaming behaviors and activating assets via financial licenses, the company is forming a closed-loop ecosystem, thereby evolving into a "More Imaginative Kingnet".

Based on Existing Overseas Layout Experience
Build an Open and Credible Global PUGC Platform

From another perspective, Kingnet's globalization strategy had demonstrated tangible results even prior to acquiring SFC Type 4 and Type 9 licenses in Hong Kong.

From the product side, the company has proactively seized overseas market opportunities, proactively deployed global distribution, targeted the global market, established in-depth partnerships with numerous overseas channels, and achieved remarkable results in overseas market expansion. It is understood that newly launched games in 2025, including MU Immortal, Party Beasts, etc., have topped overseas gaming charts immediately upon release, demonstrating formidable growth potential.

The sequential launch of multiple new products is expected to further improve Kingnet's product matrix and gradually form differentiated competitiveness, thereby further expanding its market share and driving tiered user base growth. As reflected in its performance, Kingnet's overseas revenue reached RMB 375 million in 2024, achieving a year-on-year growth of up to 221.48%.

To support these ambitions, Kingnet has launched Kingnet AI , an AI-Web3 game collaboration platform developed by SmileCobra Studio , a Singapore-based Web3 gaming studio and Kingnet’s exclusive strategic partner. Kingnet AI features a visual, no-code AI creation engine that allows developers and creators to build blockchain-based games from scratch, automate content generation, and deploy multi-chain assets seamlessly. Kingnet AI has already established strategic partnerships with TON, Solana,BNB Chain, and Alibaba Cloud.

Combined with a series of actions of the company in game globalization, proprietary AI-powered development platform, etc., it can be speculated that the company will or may also create an AI-powered end-to-end game development toolkit and a PUGC player user platform overseas. The overseas user platform will target player communities by delivering AI-powered gaming products with diversified gameplay mechanics and innovative contents. With dual SFC financial licenses, the platform provides virtual economy systems where overseas developers can autonomously generate in-game tokens through the platform's system or games on the platform to assist game developers in refining the economic systems.

From this perspective, Kingnet is hopeful to build a truly open and credible global PUGC platform and empower innovations in digital contents and economic systems based on its experience accumulated in overseas game operation & distribution over the past period and a deeper understanding of Web3.0 innovation models in overseas markets.

About Us

About Cabling Installation & Maintenance

Contact Cabling Installation & Maintenance

Editorial

Advertising and Sponsorship Sales

Subscriptions and Memberships

Feedback/Problems

Kingnet Acquired Type 4 and Type 9 Licenses: Continuously Broadening Business Boundaries and Advancing Global Expansion Layout

More News