Ray Chan Chin-ching (陳展程) is the co-founder and Chief Executive Officer of the global social media and entertainment platform 9GAG. Chan has since expanded his work into the Web3 sector, founding the venture studio Memeland and serving as the Chairman and CEO of MemeStrategy Inc., a publicly listed virtual asset company.

Early Life

Chan was born in Hong Kong in 1984 and grew up in a public housing estate. From an early age, he developed an interest in technology and media. ^[1]

Education

Ray Chan attended the University of Hong Kong, where he studied in the Faculty of Law and earned a Bachelor of Laws (LLB) degree between 2003 and 2006. During his time at the university, he was an active participant in extracurricular activities, serving as the captain of the debate teams for both the University of Hong Kong and its residential college, Ricci Hall. ^{[2] [3] [1]}

Career

Chan's career path transitioned from law and media to technology and entrepreneurship. After graduating, he worked briefly in the legal department of a bank before moving into media, where he was an anchor and reporter for Now TV. He later held positions as a project manager at an information technology company and as a product manager for the social cataloging website aNobii, which he joined in 2007. Before achieving success, Chan attempted to launch two websites, one for sharing cosmetics and another for information on electrical appliances, both of which failed, which served as a basis for later work with cryptocurrencies. ^{[1] [3]}

9GAG

In 2008, while still employed at aNobii, Chan co-founded 9GAG with four partners as a side project. The platform was initially created as an efficient way for the founders to share humorous images. The name "9GAG" is derived from a Cantonese term that translates to "make a bad joke." The site's early content was primarily Cantonese-based but quickly attracted an international audience, which Chan attributed to the universal nature of visual humor. In response, the platform shifted to more English and image-heavy content. ^[4]

Chan quit his job in 2011 to focus on 9GAG full-time. The company participated in the accelerator programs of Y Combinator and 500 Global (formerly 500 Startups), securing $2.8 million in seed funding. Under Chan's leadership as CEO, 9GAG grew into a major global brand in internet culture, amassing a global audience of over 200 million followers across its social media channels, including Instagram, Facebook, and X (formerly Twitter). In 2020, the company transitioned to a fully remote work model, eliminating its physical office. ^{[1] [3] [5]}

Expansion into Web3: Memeland

In 2022, Chan launched Memeland, a Web3-focused venture studio spun out of 9GAG. Memeland was created to build and invest in social products that incorporate community ownership through blockchain technology, NFTs, and GameFi. The project's mission is to bridge the gap between 9GAG's large Web2 audience and the emerging Web3 ecosystem. ^{[6] [7]}

One of Memeland's most notable projects was the launch of Memecoin (MEME) in late 2023. The launch was structured with a gradual token release and an 18-month vesting schedule for early participants, a strategy designed to foster price stability and encourage long-term community engagement. ^[8]

MemeStrategy Inc.

Chan further solidified his move into the digital asset space in April 2025 when he acquired a controlling stake in Howking Technology International Holdings Limited, a company publicly listed on the Hong Kong Stock Exchange (HKEX: 2440). He was appointed Chairman and CEO and initiated the process of rebranding the company to MemeStrategy Inc. The venture is positioned as Asia's first publicly listed virtual asset ecosystem, with a strategic focus on three pillars: Artificial Intelligence (AI), Blockchain, and Culture. ^[9]

MemeStrategy's business plan includes incorporating Bitcoin and other virtual assets into its corporate treasury, investing in Web3 and AI projects, and developing initiatives for the creator economy. The company's board includes key members from 9GAG and Memeland, as well as notable independent non-executive directors such as Sandy Peng, co-founder of Scroll, and Wesley Ng, co-founder and CEO of CASETiFY. ^[10]

Angel Investments

Chan is also an active angel investor in the Web3 sector. His investment portfolio includes a range of startups focused on gaming, decentralized finance (DeFi), and blockchain infrastructure. Some of his notable investments include:

• Pixelmon: An open-world RPG NFT game.
• Thruster: A native decentralized exchange (DEX) on the Blast network.
• Zentry: A "Gaming Superlayer" designed to integrate loyalty systems and gamer identities.
• Frame: An Ethereum Layer 2 rollup focused on creator royalties.
• Chillchat: A pixel art NFT metaverse.

These investments reflect his focus on supporting the growth of the broader digital asset ecosystem. ^[11]

Board and Advisory Roles

Outside of his primary ventures, Chan serves in several advisory capacities. Since 2022, he has been an Honorary Advisor for World Vision Hong Kong, a global humanitarian organization. He has also served as a Board Member for the Hong Kong Genome Institute, an organization focused on genomic medicine, since 2020. ^[2]

Philosophy and Views

Chan has publicly shared his perspectives on entrepreneurship, company culture, and the evolution of the internet. He prioritizes hiring individuals with "great character," stating that technical skills can be taught while personality is inherent. For 9GAG's culture, he values empathy over humor, as the platform's goal is to "touch people's emotions." ^[4]

Regarding his work in Web3, Chan has emphasized the need for sustainable, community-focused growth. In a 2023 talk, he stated, "We don’t need more investors in Web3. We need more customers." He views blockchain as a tool to create a new "ownership layer" for the internet, redefining the relationship between creators and their fans by giving them a tangible stake in the communities they support. ^[7]

He has also been candid about the difficulties of innovating in the space, noting the contradictory pressures from the community. In one social media post, he wrote:

"IT'S DAMN HARD TO BUILD IN WEB3. When you try something new, people ask you to repeat the old things. When you repeat the old things, people ask you to try something new." ^[6]

Personal Life

Chan has spoken publicly about personal challenges, including the loss of his first son. He has stated that this experience provided him with a profound sense of perspective on other professional and personal issues, reinforcing his resilience. He has expressed a desire to be remembered as a "good person who made a difference" for his family and community. ^{[12] [13]}

Awards and Recognition

Chan's work in technology and media has received recognition from several industry publications.

• In 2021, he was named to Prestige magazine's "40 Under 40" list for Hong Kong. ^[4]
• In 2024, CoinDesk included him in its annual "Most Influential" list, recognizing his role in bridging Web2 and Web3 communities and his influence during the 2024 memecoin market cycle. ^[7]

Interviews

Culture, Community, and Commitment in the Meme Economy #01

On May 22, 2025, Ray Chan appeared on the official YouTube channel of Solana during the Accelerate 2025: Lightning Talk series, in a session titled “Ship or Die: 9GAG (MEME)”. In this talk, Chan shared his perspective on nearly two decades of work across digital platforms, online culture, and the crypto ecosystem.

According to Chan, his early experience began with co-founding Nigat, a site dedicated to sharing humorous images before meme culture and cryptocurrencies became mainstream. He described how online communities evolved alongside the spread of memes, which later intersected with the rise of NFTs and memecoins in web3. Entering the NFT space relatively late, Chan explained that he came to view NFTs not simply as digital art but as markers of social status and community identity.

This realization motivated him to launch multiple NFT initiatives and eventually introduce a memecoin token, which became one of the largest projects on Binance Launchpool in 2023. Chan also highlighted the acquisition of a publicly listed company in Hong Kong, rebranded as MemeStrategy, as a step to connect institutional investors with meme tokens. He argued that this development reflected a broader phase of maturity for the meme economy, bridging retail enthusiasm with traditional financial structures.

Throughout the session, Chan emphasized lessons on culture, community, and long-term commitment. He noted that culture in crypto is dynamic, requiring both respect for early adopters and adaptability to new trends. He described the paradox of communities as essential yet fragile, often dispersing when token prices fall. For Chan, sustained commitment, rather than hype, is the critical factor for enduring success in the volatile web3 environment. He concluded by framing challenges as opportunities for growth and underlined the importance of integrating personal values into work within the crypto sector. ^[17]

Asia’s Role in Web3 Growth #02

On October 4, 2023, Ray Chan, CEO of 9GAG and founder of Memeland, participated in a fireside chat organized by Now Media during The Gateway Korea. The session, moderated by Gabriel Yang, Director at ARC Community, addressed Chan’s views on the role of Asia in the development of Web3 and NFTs.

Chan stated that Asia may lead the next cycle of growth in the crypto industry, citing cultural practices and economic conditions as contributing factors. He referred to persistence, collective identity, and a combination of effort with strategic planning as features that shape the region’s entrepreneurial environment. He contrasted these aspects with Western approaches, noting different perspectives on risk and innovation.

The discussion also covered the distribution of talent in Web3. Chan remarked that remote work has diminished the dependence on traditional startup hubs. He added that local policies and regulatory clarity in jurisdictions such as Hong Kong, Singapore, and Dubai have contributed to faster adoption in the region.

A further point addressed was the trajectory of NFTs. Chan observed that many projects are affected by impatience and by the emphasis placed on short-term indicators such as floor prices. He stated that NFTs should not be understood solely as speculative assets but as mechanisms for community building, identity, and ownership.

Chan concluded by noting that projects concentrating primarily on immediate financial results risk losing community engagement. In his view, initiatives that integrate long-term planning with cultural and practical use cases are more likely to maintain relevance over time. ^[18]