Recently, Hainan Huatie has attracted widespread attention in the Web3 community and the A-share market, becoming a hot topic of discussion. Its launched "Wasp Brother NFT" saw the floor price soar from 200 yuan to nearly 15,000 yuan in just three days, creating a stir in the digital collectibles field. Meanwhile, the company announced the completion of the issuance of the first batch of 10 million yuan non-financial RWA (real-world assets) products, with the collaboration partner being the well-known licensed Web3 enterprise, Wei Yi Digital.

This series of actions has been interpreted by many as a signal for publicly listed companies to officially enter the Web3 space, and is also seen as a new paradigm combining on-chain assets with equity dividends. However, upon closer examination of these innovative attempts, we find that both NFTs and RWAs are in a legal and regulatory gray area.

In-depth analysis of "Hummingbird Brother NFT" reveals that it is not an ordinary digital collectible. According to the official rules released by the company in July, users can activate and lock the NFT through the "Hua Tie Da Huan Feng" WeChat mini-program within a specified time period to become a "Brand Promotion Ambassador," gaining the right to receive "Brand Promotion Earnings" for three consecutive years. This model innovatively links NFTs with actual rights and expands the application scenarios of digital collectibles.

However, this innovation also comes with potential legal and regulatory risks. Linking NFTs to actual profit rights may touch on the gray areas of securities regulations. At the same time, the issuance of RWA products faces similar regulatory challenges, as it involves converting physical assets into digital form and trading them.

Although Hainan Huatie's attempts demonstrate the application potential of Web3 technology in traditional industries, they also raise concerns about compliance and risk control. Whether this innovative model can continue to develop within the existing legal framework remains highly uncertain.

For investors and market participants, while following the opportunities brought by innovation, it is also necessary to remain cautious and fully recognize the potential risks. Regulatory agencies may need to expedite the formulation of relevant policies to address the new challenges posed by Web3 technology, ensuring a balance between innovation and risk control.

The case of Hainan Huatie undoubtedly provides new ideas for traditional enterprises to embrace Web3 technology, but it also highlights the potential risks of innovating in an environment with unclear regulations. In the future, how to ensure compliance while promoting innovation will become an important issue for companies in the Web3 field.