Foresight News reported on the spot that HashKey Group and DePIN project arkreen launched the "Web3 DePIN Hong Kong Initiative" to the world at the 2023 Hong Kong Web3 Carnival, aiming to jointly promote the DePIN ecology in Hong Kong with DePIN ecological projects, builders, investment research institutions, and equipment manufacturers development, making Hong Kong a gathering place for the global DePIN ecosystem. Leo LIN, founder of arkreen, said, "DePIN will become one of the very important trends in the next cycle. Relying on the carrier of Hong Kong and the Greater Bay Area, we can tell the story of Hong Kong well." Chairman of Wanxiang Blockchain and Chairman of HashKey Group Xiao Feng said, "We have been discussing how to combine the real world and the virtual world. DePIN is a bridge to connect the two together, hoping to promote a blockchain-based and trusted network." DePIN (Decentralized Physical Infrastructure Networks) uses blockchain and the Internet of Things to ensure the credible data base of the physical world, and uses a fair and transparent consensus mechanism to encourage and dispatch global users to build a digital infrastructure network, so that Web3 can be combined with the real world real economy. DePIN representative projects include Filecoin, Helium, DIMO, Hivemapper, arkreen, etc. "Web3 Festival" (Web3 Festival) is a Web3 event brand jointly launched by Wanxiang Blockchain Lab and HashKey Group, and hosted by W3ME. This year's "Web3 Carnival" will last from April 12 to April 15, and will focus on the core issues of various Web3 tracks such as regulatory policies, Web3 infrastructure, and Metaverse.