Former HK financial chief John Tsang launches NFT project 'Choi Yeah'

Former Hong Kong financial secretary John Tsang has plans to launch an NFT project as part of his effort to contribute to the city's startups.

On 4 April, Tsang said on his Facebook that he, in collaboration with Japanese illustrator Yosuke Yamauchi, will launch a collection of 3,000 "Choi Yeah" NFTs. "Choi Yeah" is the Cantonese pronunciation (財爺) of the nickname of financial secretary of the Hong Kong government. Tsang said he will provide recipients of the NFTs with other gifts, including a poem, song, or some articles. Owners of "Choi Yeah NTFs" will also be invited to activities about the Web 3.0 universe.

He said, "The world has changed so much in the past few years. Troubles of varying nature in our communities are causes for concern for all of us as we unwittingly enter the new Web 3.0 universe! This 'Choi Yeah NFT' project will dedicate 10% of the secondary trading transaction proceeds to support Hong Kong tech startups."

Tsang has been working with various private companies after leaving the Hong Kong government in 2017. He is now senior consultant for virtual insurance company Bowtie Insurance. Recently, he also starred in ViuTV's drama series In Geek We Trust.

"In an earlier media interview, I mentioned the prerequisites for my involvement in startups, including the participation of young people, technological innovation, and possible industry disruption," he added. Tsang already established a website for the NFT project. However, details of the project, including the mint date, price and other information, have yet to be announced.

Tsang's announcement coincided with Hong Kong chief executive Carrie Lam's daily press conference in the morning. Lam said in today's press briefing that she will not seek re-election for a second term in office, citing family reasons for her decision. There are some speculations on the Internet about the date and time of Tsang's announcement, but Tsang clarified that he and his team had decided to roll out the NFT project today. "The announcement has nothing to do with other current affairs absolutely," Tsang said.

Lam and Tsang were nominees of the 2017 Hong Kong Chief Executive election, in addition to retired judge Woo Kwok-hing. Tsang served as Hong Kong's financial secretary from July 2007 to January 2017, while Lam was chief secretary for administration from July 2012 to January 2017. Both of them resigned from their respective positions to run for the chief executive election held in March 2017.

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