This is the virtual money gifting game that got millions to sign up for WeChat’s mobile payment platform a few years ago. <br /><br />Fast forward a few years and this game is still huge—768 million people sent and received virtual red envelopes last Chinese New Year. But there’s more to it.<br /><br />These millions of users started using WeChat Pay in their everyday lives. Its parent company, Tencent, now goes head-to-head with Alibaba in carving up the mobile payment market, and transforming China into a cashless country.<br /><br />**NEW VIDEOS EVERY MONDAY, WEDNESDAY, AND FRIDAY<br />**FOLLOW US ON IG, TWITTER, AND FACEBOOK:<br />http://instagram.com/goldthread2<br />http://twitter.com/goldthread2<br />http://facebook.com/goldthread2<br /><br /><br />Directed, written and voiced by: Venus Wu<br />Produced and shot by: Venus Wu and Ray Ngan<br />Props created by: Venus Wu<br />Animated by: Ray Ngan<br />Edited by: Nicholas Ko<br />Mastered by: Victor Peña<br /><br />Special thanks to: Joel Roche<br /><br />Music: Audio Network<br /><br />This video mentions Alipay and Alibaba. Alibaba is the parent company of the South China Morning Post, which incubates Goldthread.<br /><br />Resources:<br /><br />Fast Company: How WeChat Became China’s App For Everything, by Eveline Chao<br />https://www.fastcompany.com/3065255/china-wechat-tencent-red-envelopes-and-social-money<br /><br />Forbes: Red Envelope War: How Alibaba and Tencent Fight Over Chinese New Year, by Liyan Chen<br />https://www.forbes.com/sites/liyanchen/2015/02/19/red-envelope-war-how-alibaba-and-tencent-fight-over-chinese-new-year/#14860281cddd<br /><br />Xinhua: 微信数据：春节收到红包数量最多者达3429个, by 郑小红<br />http://www.xinhuanet.com/info/2018-02/22/c_136990509.htm<br />
