Renowned Philanthropist Qian Fenglei’s $100M Web3 Bet: FO-X Aims to Onboard a Billion Users

Qian Fenglei, celebrated philanthropist and chairman of Hangfeng International, is stepping into the entrepreneurial arena with a bold vision for the Web3 era. For a man whose name regularly appears on Hurun and Forbes’ top philanthropists lists, this is more than just a career pivot—it’s a statement.

Hangfeng International has raised $100 million, half of which comes directly from Qian, with the remainder coming from 50 of his closest allies. The funding will mainly fuel FO-X (fo.com), a Web3 ecosystem anchored by FoChat—a platform designed to democratize Web3 adoption and empower everyday investors. This round, Qian emphasizes, is Hangfeng's first and last.

Mission: Rebuilding the World Through Web3

“The world is plagued by blockades and invasions,” Qian stated. In contrast to Elon Musk’s vision of Mars colonization, FO-X(fo.com) offers a grounded solution for Earth: fixing it with Web3 technology.

FO-X (fo.com) brings together an all-star team of tech and finance professionals, all of them from top public companies and Wall Street. They’re all Chinese and driven by a shared optimism for Earth’s future. Qian explained, “Chinese culture teaches harmony. We’ve embraced the concept of a ‘global village’ for centuries.”

That ethos serves as the backbone of FO-X(fo.com), a project with a lofty goal: creating a “community of shared human interests” where privacy, transparency, and ownership are not just buzzwords but guiding principles.

While crypto wealth stories defined the last decade, FO-X(fo.com) aims to serve ordinary individuals. It focuses on protecting privacy, empowering users, and tearing down barriers to rebuild a global village.

Reimagining Communication: The FoChat Revolution

FO-X(fo.com)’s initial project is to rejuvenate Firechat, a neglected messaging app plagued by spam and scams. Now rebranded as FoChat, the platform has transformed into a modern, intuitive messaging platform with seamless communication and Web3 engagement.

FoChat isn’t just a messaging app—it’s a launchpad for Web3.

• Web3 Education (Play to Learn)
• Real-Time Web3 Updates and Tools
• Cross-Chain Compatibility
• AI Agents
• Decentralized Autonomous Organization (DAO)

Beyond Messaging: The Vision for FO-X

FoChat is only the beginning. FO-X(fo.com)’s next steps include launching payment and wallet functionalities, enabling users to transact, manage, and transfer assets effortlessly within the app.

“This isn’t about crypto-fueled get-rich-quick schemes. It’s about building something meaningful for ordinary people,” Qian concluded.

With $100 million in the bank and an all-star team behind him, Qian is betting big on FO-X (fo.com).

The ultimate goal? To create the Web3 equivalent of WeChat and Alipay—a decentralized super app for a new era.

This post is commissioned by Foresight and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.