How did New World’s Adrian Cheng decide to buy a piece of virtual land? Property scion says smoking a cigar with Alibaba’s Joe Tsai provided the spark


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Adrian Cheng Chi-kong, the third-generation scion of Hong Kong conglomerate New World Development , said his idea of buying a piece of land in a virtual world was partly sparked by the South China Morning Post’s foray into The Sandbox and a conversation with Joe Tsai, vice chairman of Post -owner Alibaba Group Holding. Cheng, an influential investor in property as well as the arts in Hong Kong, grabbed attention in the city’s financial and technology community last year by announcing an investment, in a personal capacity, into blockchain platform The Sandbox, owned by the Hong Kong gaming and blockchain...