Adrian Cheng, former CEO of New World Development and grandson of Chow Tai Fook founder Cheng Yu-tung, has announced the establishment of ALMAD Group. This new conglomerate aims to drive innovation in Web3 finance, focusing on investments in digital assets and the tokenization of real-world assets (RWA). Additionally, ALMAD Group will explore the application of blockchain technology and immersive digital experiences across various industries.