Author: Zen, PANews
During the golden age of internet development in China, KuaiBo was a legend in the hearts of countless people. This video player once accounted for 80% of domestic video traffic, serving over 500 million users. The creator of KuaiBo, Wang Xin, has also experienced the ups and downs of life, from peak to valley.
After regaining his freedom, Wang Xin returned to the public eye with a new attitude. However, his "second spring" of entrepreneurship was not smooth; as the excitement around new products faded, Wang Xin gradually "retreated" and remained silent for a long time.
Until early 2025, Wang Xin rekindled his entrepreneurial passion, announcing his full commitment to Web3, focusing on the intersection of AI Agents and the crypto economy. He also proposed the concept of "technology fairness," viewing it as the core value of his next stage of entrepreneurship.
In a recent exclusive interview with PANews, Wang Xin candidly shared his reflections on the past, his dedication to fair technology, and his belief in starting anew in the wave of Web3.
Passing Through the Blockchain Industry's Door Twice Without Entering
In 2011, Wang Xin first encountered Bitcoin. Out of curiosity about decentralized currency, he read the Bitcoin source code and mined a few coins. However, as he was focused on KuaiBo's business at the time, he did not invest much energy into it and did not spend much time researching. At that time, BTC seemed to him more like a geek's experiment: highly volatile and with an uncertain future.
"Looking at Bitcoin now, my mindset is completely different." Over a decade later, Wang Xin's view on Bitcoin has changed drastically. On one hand, he sincerely admires the technological innovation behind Bitcoin's blockchain technology; on the other hand, Bitcoin has grown from being largely ignored to becoming a mainstream asset on par with gold. Wang Xin stated that the community-driven, decentralized structure has built global trust, overturning his initial skepticism and providing him with much inspiration.
In contrast to the current cooling period of the Web3 industry, 2018 was undoubtedly a time of hot money for most practitioners and investors. Many internet entrepreneurs went "all in" after Xu Xiaoping, the founder of ZhenFund, called for "embracing blockchain." In February of that year, Wang Xin regained his freedom and made a "high-profile comeback" during a gathering with Xiaopeng Motors founder He Xiaopeng, 58 Group CEO Yao Jinbo, and Huanyou Times CEO Li Xueqing. He Xiaopeng stated on social media that Wang Xin was in good health and shared similar thoughts with them, discussing the development of AI, video, and blockchain technology. At that time, there were many rumors that Wang Xin would enter the blockchain industry.
He Xiaopeng is on the left, Yao Jinbo is on the left second
However, Wang Xin ultimately chose to establish YunGe Artificial Intelligence in Shenzhen, diving into the social and AI sectors, launching "Toilet" and "LingGe AI." Due to his previous experiences, Wang Xin stated that he could not lead a team to take policy risks. "At that time, going all in on blockchain was feared to cross the red line," Wang Xin admitted.
Around 2018, although the ICO boom had not yet cooled, regulatory policies were highly unclear, and the domestic blockchain entrepreneurial environment tightened suddenly. As a responsible entrepreneur towards his team and company, Wang Xin had previously required the company to dismiss employees after the KuaiBo incident, allowing them to apply for labor arbitration for compensation. Therefore, during his second entrepreneurial venture, he was unwilling to let his team bear any risks. However, within the company, a small team continued to monitor the blockchain industry and maintain their learning and research on the technology.
After Years of Seclusion and Reflection, Entering Web3
After launching the social application "Toilet" and the flexible employment recruitment product "LingGe AI," Wang Xin faded from the public eye for three to four years. Regarding this "seclusion," Wang Xin stated that it was intentional on his part and also a result of the environment.
"LingGe AI" and "Toilet" initially gained attention due to Wang Xin's "star entrepreneur" aura, but did not create much of a stir afterward. Both products fell short of expectations, with the "Toilet" project even being halted before its launch. This experience of ups and downs made him realize the necessity of calm reflection. Wang Xin expressed, "This kind of adjustment is quite important for me as a serial entrepreneur. I have had glory and lows; it is essential to have a stronger inner self and a clearer goal. I believe that only by settling myself can I go further."
In 2019, during an interview with the Beijing News, Wang Xin stated, "I can't be a very good investor, but I can be a great entrepreneur." However, during his years of reflection, he actually invested in several projects, mainly in the hardware and AI fields, such as the flying car company "Xiaopeng Huitian," which is rumored to be considering going public, and a laser radar company that occupies a significant share of the global market. Wang Xin mentioned that he did not intend to become an investor but participated in investments at the invitation of friends, helping with guidance and support as he became more involved. He also revealed that he has not yet invested in any Web3 projects.
Although he has not formally entered the field, Wang Xin has always had deep ties to the blockchain industry. KuaiBo's P2P technology allowed all users to publish shared files, making it difficult for central systems to control, which is conceptually similar to blockchain networks. Additionally, KuaiBo had launched a traffic mining project aimed at aggregating idle bandwidth and CPU resources from personal devices, home bandwidth, and enterprise nodes, optimizing real-time deployment through cloud computing, essentially utilizing a shared economy model to create a CDN (Content Delivery Network). To some extent, this was also the embryonic form of today's DePIN.
With the rapid development of the AI industry, the popularization of large models like ChatGPT, and the gradual clarification of Web3 policies in countries and regions like Singapore and Hong Kong, Wang Xin realized that these two technologies, which significantly enhance productivity and improve production relationships, could be integrated. This entry point became his "entry point" into the Web3 industry.
Focusing on Web3 + AI Agent
Looking at the entire AI industry, "Web3 + AI" is still a very niche track, and even many star "Web3 + AI" projects have been criticized for being "shoddy." In fact, Wang Xin's exploration and understanding of the AI field may exceed that of most current Web3 practitioners.
Based on his personal entrepreneurial and investment experiences, Wang Xin stated that small companies and teams face immense cost pressures if they aim to create a general AI platform. Computing costs often account for 80-90% of the budget, making it difficult for entrepreneurs to sustain. He believes that instead of creating a general platform, it is better to focus on vertical scenarios, developing "small but beautiful" landing products, or finding new business models by combining AI with Web3.
"AI is very centralized, including large models that are super centralized; it has little to do with Web3. At this point, we thought about which part of AI would relate to individuals? That is AI agents," Wang Xin said.
AI Agents are essentially orchestrated automated workflows that require human involvement for tuning and decision-making. The choices made by people regarding outcomes effectively participate in the "training" of the Agent. Wang Xin stated that when a community or KOL repeatedly optimizes the same type of task, they possess the core value of that Agent. At this point, the ownership and profit distribution of the Agent should rightfully belong to these contributors. With the public key/private key system of Web3, each Agent can have a unique on-chain identity, and smart contracts can record every contribution and corresponding profit in real-time, ensuring that "data contributors" truly become "value recipients."
Additionally, Wang Xin believes that the two core aspects of Web3 are asset issuance and asset transfer, with the former's threshold becoming increasingly lower and the latter's infrastructure becoming more refined. The real challenge lies in how to ensure that issued assets continue to appreciate in value and how to ensure that community participants, operational teams, and ordinary users all benefit within the ecosystem. He pointed out that the solution lies in enhancing product capabilities and effectively utilizing Web3 to reshape production relationships, which contains a wealth of potential innovations. For example, addressing the high learning costs of Web3, private key management, and Gas fee settings can prevent the vast majority of internet users from being excluded. Only when the on-chain experience is sufficiently close to people's daily operations can new professions, communities, and entrepreneurial opportunities emerge.
How Does the "Hidden" Gaming Giant View Chain Games?
In addition to the video player, KuaiBo's gaming platform "KuaiWan Game Box" was once an important revenue source for the company. This platform, which integrated a vast array of games, opened the door to the world of single-player games for countless players, and at its peak, it even rivaled Steam in the Chinese market, with monthly active users exceeding one million, surpassing most chain game projects. However, in the Web3 field, the gaming sector, once highly anticipated, has been in a prolonged slump.
"It is difficult to achieve playability and decentralization simultaneously." When asked whether he is optimistic about the prospects of Web3 games, Wang Xin candidly stated that truly enjoyable games do not rely on Web3 for their existence. In reality, whether it is blockbuster games or classic web games and single-player games from the past, players pursue immersion and fun, not the underlying technical implementation. When developers blindly treat blockchain as a "funding tool" or "token issuance channel" layered on top of games, it often undermines playability. Players have to learn about private keys, worry about transaction fees, and be concerned about asset security, which completely deviates from the original intention that "games should bring joy."
"If a new game simultaneously carries innovative gameplay and a Web3 model, the chances of success are extremely low." Wang Xin pointed out that the core of games has always been content. Regardless of how technology iterates, players seek storylines, graphics, controls, and social experiences. The correct path should be to start from "a certain link." For example, using low-cost on-chain payments to replace traditional credit cards and App Store revenue sharing can save 3-10% in fees, alleviating the customer acquisition and monetization pressure on game developers. Additionally, during cross-border distribution, using stablecoins or multi-chain wallets to complete player top-ups, profit sharing, and withdrawals allows developers to reduce costs without expensive advertising.
When payment and profit-sharing processes are smoothly and seamlessly integrated into the game, players enjoy a traditional gaming experience while unknowingly using Web3 infrastructure. Developers will also reduce intermediary profit-sharing, and with more revenue, they will be able to continue providing better products. "So how to ensure they have profits, I believe this should be achieved through the changes in production relationships brought about by Web3."
Why Support Meme Coin Fair3?
After entering the Web3 industry, Wang Xin's identity seems to have shifted from a serial entrepreneur to a supporter and evangelist. He frequently shares his views on artificial intelligence and blockchain technology on social media, sometimes directly mentioning Fair3, which he supports. According to Wang Xin, Fair3 is not a traditional "project," but an ecosystem centered around the core concept of "technology fairness."
Wang Xin stated that Fair3 originated from a pure meme coin, and after a group of core members (the CTO team) took over, they began to contemplate a more profound vision: not just the cultural attributes of the community, but to build a truly decentralized ecosystem where every individual benefits from their participation. Fair3 aims to leverage the power of Web3 to challenge the various injustices caused by centralized algorithms and platform monopolies in the traditional internet, transforming the culture of "many grains of sand forming a tower" into tangible ecological value.
"Every historical transformation of production relations has addressed the core issues of its time: agriculture solved food, and industry solved capital," Wang Xin further stated. In today's "knowledge stage" and "attention stage," the monopoly of data and algorithms has led to the exploitation of ordinary users and content creators. Mainstream platforms impose high commissions on creators, with e-commerce customer acquisition costs reaching 30-40%, and content distribution fees even hitting 90%. These are all unfair practices. What Fair3 aims to do is gather the "grains of sand" from countless small individuals, using community cohesion and voice to make injustices visible, and through decentralized technology, achieve a transformation from cultural construction to ecological implementation.
For example, the CTO team has organized several small-scale meme culture creation and sharing events, where community members independently record "unfair stories," documenting personal experiences and supporting each other. Recently, the community also launched the "Delivery Fairness" initiative, encouraging members to support JD Delivery and airdropping tokens to participants, revealing and correcting the unfairness of platform subsidies and commissions through actual consumption behavior, among other actions.
Wang Xin revealed that the current scale of the Fair overseas community has reached 20,000 to 30,000 people. As the ecological construction progresses, Fair3 plans to introduce more open-source projects and tools, including investment analysis, airdrop information push, and consumption matching platforms, to provide real value for token holders and consumers.
What is Technology Fairness?
In the interview, Wang Xin repeatedly mentioned "technology fairness." He also shared the detailed connotation of this concept: to truly achieve technology fairness, three elements must be satisfied simultaneously: algorithm transparency, data ownership by individuals, and continuous profit for individuals.
Algorithm transparency means that all core algorithms must be open-source and auditable, with no "black box" operations. Only when participants can clearly see the algorithm's logic can they maintain trust in its results; once the algorithm is opaque, it will trigger widespread skepticism and resistance. Wang Xin stated, "All our projects will adhere to open-source algorithms to ensure that all users have equal rights to know the system rules."
In the training of large models and various digital services, vast amounts of personal data are often harvested by platforms without compensation, used for commercial monetization, while original creators and ordinary users struggle to gain any benefits or rights. Technology fairness demands that every piece of data should be owned and used by its creator, with clear proof of rights on-chain. Only in this way can individuals truly become "masters" in the digital economy, avoiding the situation where they contribute value without receiving any returns.
Wang Xin believes that individuals should not only be able to participate in technology construction and data provision but also continuously receive economic returns through their contributions and consumption behaviors. He cited his friend Li Xueqing as an example—after Li shared his experience of receiving a weight-loss injection in the community, he bought stocks in the biotech company; as more people benefited from his recommendation and further invested, both the original recommender and the audience received dual returns from "consumption + investment."
He also pointed out that traditional delivery workers work hard but lack a sustainable profit mechanism; once they stop working, they have no income or security. In a decentralized token economy, early builders and active consumers can continuously share in the platform's growth dividends through holding tokens and promotion.
KuaiBo Can Only Represent the Past
After Wang Xin was imprisoned, the phrase "Owe KuaiBo and Wang a membership" became a popular meme in China. To some extent, this joke also reflects support, gratitude, and emotional recognition for him. Based on this grassroots support, Wang Xin seems to have the conditions to issue a personal token to "collect" membership fees.
"This is just an internet meme," Wang Xin responded with a smile. When KuaiBo was forced to shut down, it was the voices of these users, like "many grains of sand forming a tower," that helped him through tough times, and he is deeply grateful for this bond. However, he clearly stated that tokenizing this sentiment poses a risk of "overdrawing fans" for him, which neither aligns with his pursuit of technology fairness nor could it capitalize on the emotional capital of supporters; therefore, he "absolutely will not issue a personal token."
Moreover, he believes that KuaiBo can only represent the past, while high-quality memes (like cats and dogs) can transcend time and space, representing future cultural symbols. The "pastness" of KuaiBo means it is not a good meme and thus not suitable for tokenization.
Regarding external doubts about him using his personal image to promote Fair3 and exploit supporters, Wang Xin candidly admitted that he has also considered "backing out," fearing trouble. However, the support from the community has strengthened his resolve; many believe he is not here to "exploit" anyone, and making quick money is not his goal.
He revealed that He Yi, co-founder of Binance, had privately messaged him, advising, "Issuing tokens is like issuing bonds." Once a token is issued or supported, one must bear the responsibility and debt to the community. He sees himself as owing a "debt of technology fairness," which requires him to continuously voice for the community and build the ecosystem, rather than seeking one-time profits. Price fluctuations are inevitable, and freedom of speech allows for questioning, but the key is to persist in improving products and the community, ensuring that holders genuinely benefit through continuous feedback, thus achieving sustainable ecological development.
Wang Xin further stated that he and his team, as well as their fund, are working hard to improve products and business models, hoping that early participants can continue to receive returns. He likened the platform to a live-streaming ecosystem, where everyone has the potential to create value.
He also shared his experience of introducing Web3 to his family, saying, "I am also building a Web3 environment for my family." Wang Xin mentioned that he has introduced his wife and children to Web3, such as owning wallets and trading meme coins, even earning a little money in "PVP." He encourages his high school daughter to think about the needs of her peer group, such as game boosting and blind box exchanges, which could potentially form small-scale community economies through simple tools and token designs.
"I believe the future opportunities lie in AI and Web3, and if she starts engaging with it now, it would be a particularly good thing," Wang Xin added.
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