Tesla and SpaceX CEO Elon Musk not often holds again on Twitter, whether or not it’s chiming in on america’ financial response to COVID-19, advising JK Rowling on Bitcoin, or driving down Tesla’s inventory value by claiming that it is overvalued.
Musk additionally just lately tweeted that he would promote his homes and minimize down on bodily possessions, and he’s really following by on that promise. He listed five mansions for sale, and has already accomplished the sale of 1 to a fellow tech billionaire—and a distinguished blockchain advocate, at that.
Who purchased Elon Musk’s home?
William Ding (or Ding Lei), the founder and CEO of Chinese language Web and gaming firm NetEase, just lately bought the Bel Air, Los Angeles property from Musk for a cool $29 million. Based on Variety, that’s simply shy of the $30 million asking value for the 16,251-square-foot property.
NetEase was based in 1997 and offers an array of Web companies to Chinese language customers, together with e-mail and e-commerce. It additionally publishes its personal video video games, together with localized variations of worldwide hits comparable to Blizzard’s Overwatch and World of Warcraft. Ding, as soon as the richest man in mainland China, has a present estimated internet value of $26.5 billion, in keeping with Forbes.
Ding’s historical past of blockchain investments
Ding was an early investor in blockchain platform ArcBlock, and in January 2018 was named as an advisor for the venture, a place he still holds. Quickly after, Ding was alleged to have bought some 96,000 Bitcoin at a price of $1 billion, which he denied. Based on 8BTC, Ding claimed through his WeChat Moments in February 2018 that he had never owned Bitcoin.
Given the anti-cryptocurrency narrative usually espoused by China’s state-owned media (with rare exceptions) and China’s ban on Bitcoin gross sales throughout the nation, it’s no shock that Ding shortly shut down the hypothesis. Regardless of China’s stance towards crypto, nonetheless, the nation could be very positive about blockchain as a know-how.
NetEase has launched blockchain-based video games prior to now, and launched three blockchain functions in 2018—together with a social media community and information aggregator. Nevertheless, Ding’s dalliance with blockchain seems to have been a quick one; the games and apps alike had all apparently shut down by the top of final yr.
“The shutdown of NetEase’s blockchain experiments revealed an embarrassing fact about blockchain functions in China: Though they got here from storied, profitable Web giants with considerable sources and the largest mass market on this planet, a killer client app by no means materialized,” wrote Decrypt’s Shuyao Kong in December.
— to decrypt.co