Author: Zen, PANews
In the golden era of internet development in China, KuaiBo was a legend in the hearts of countless people. The video player once held 80% of the domestic video traffic, serving over 500 million users. Wang Xin, the creator of KuaiBo, 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 completely new posture. However, his 'second spring' in entrepreneurship did not go smoothly; as the excitement for new products waned, he gradually 'retreated' and remained silent for a long time.
By early 2025, Wang Xin rekindled his entrepreneurial passion, announcing his full commitment to Web3, with a focus on the intersection of AI agents and the crypto economy. He also proposed the concept of 'technological fairness' and regarded it as the core value for the next stage of entrepreneurship.
In a recent interview with PANews, Wang Xin candidly shared his reflections on the past, his dedication to technological fairness, and his belief in starting afresh in the Web3 wave.
Passing through the doors of the blockchain industry without entering.
In 2011, Wang Xin first encountered Bitcoin. Out of curiosity about decentralized currency, he read the source code of Bitcoin and mined some coins. Since he was focused on KuaiBo's business at the time, he did not invest too much energy into it and did not spend much time studying it. At that time, BTC, in his view, was more like a geek's experimental product: highly volatile with uncertain prospects.
'Now looking at Bitcoin, my mindset is completely different.' More than a decade later, Wang Xin's view on Bitcoin has undergone a complete transformation. On one hand, he sincerely admires the technological innovation behind Bitcoin and its 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 established global trust, overturning his initial skepticism and providing him with much inspiration.
Compared to the current cooling period in the Web3 industry, 2018 was undoubtedly a year of hot money flowing in for most practitioners and investors. Many internet entrepreneurs all in after Xu Xiaoping, the founder of Zhen Fund, called out to 'embrace blockchain.' In February of that year, Wang Xin regained his freedom and made a 'high-profile comeback' during a small gathering with Xiaopeng Motors founder He Xiaopeng, 58 Group CEO Yao Jinbo, and Huanyou Times CEO Li Xueling. He Xiaopeng stated on social media that Wang Xin was healthy and had aligned thoughts with them, and they discussed the development of AI, video, and blockchain technology together. At that time, there were many rumors that Wang Xin was going to enter the blockchain industry.
On the left is He Xiaopeng, and on the right is Yao Jinbo.
However, Wang Xin ultimately chose to establish YunGe Artificial Intelligence in Shenzhen, diving into social and AI tracks, launching 'Toilet' and 'Ling Ge AI.' Due to previous experiences, Wang Xin stated that he could not lead a team into policy risks. 'At that time, going all in on blockchain was likely to cross the red line,' Wang Xin admitted.
Around 2018, although the ICO craze had not yet dissipated, regulatory policies were highly unclear, and the domestic blockchain entrepreneurial environment suddenly tightened. As a responsible entrepreneur towards his team and company, Wang Xin, after the incident with KuaiBo, requested the company to dismiss employees to enable them to apply for labor arbitration and obtain compensation. Therefore, during his second entrepreneurial journey, holding a responsible attitude, he was unwilling to let the team bear any risks. However, within the company, a small team continued to focus on the blockchain industry and maintain their learning and research on the technology.
After years of being hidden away and reflecting, he entered the Web3 space.
After launching the social application 'Toilet' and the flexible employment recruitment product 'Ling Ge AI', Wang Xin faded from the public eye for three to four years. Regarding this 'disappearance,' Wang Xin stated that it was intentional on his part and also due to the environment.
'Ling Ge AI' and 'Toilet', besides gaining attention initially due to Wang Xin's 'star entrepreneur' aura, did not create much of a stir afterward. Both products did not meet expectations, with the 'Toilet' project even being halted before launch. This rollercoaster experience made him realize the need for calm reflection. Wang Xin stated, 'This adjustment is quite important for a continuous entrepreneur like me. I have had brilliance and valleys; it requires a stronger mindset and clearer goals. I believe that only by refining myself can I move further.'
In 2019, during an interview with (The Beijing News), Wang Xin stated, 'I cannot be a very good investor; I will be a great entrepreneur.' However, during the years of reflection, he actually invested in many projects, mostly focusing on hardware and AI fields, such as the flying car company 'Xiaopeng Huitian', which is rumored to be considering going public, and a lidar company that occupies a major share in the global market. Wang Xin mentioned that he did not intend to become an investor, but rather responded to friends' invitations to provide some guidance and support, and as he learned more, he got involved in investments. He also revealed that he has not participated in investing in Web3 projects.
Although he has not formally entered the field, Wang Xin has always had a deep connection with the blockchain industry. KuaiBo's P2P technology allowed all users to publish shared files, which were difficult to control by central systems, and its philosophy resonates with that of blockchain networks. Additionally, KuaiBo once launched a traffic mining project aimed at aggregating idle bandwidth and CPU resources from personal handheld devices, home broadband, and enterprise nodes, optimizing real-time deployment through cloud computing, essentially utilizing a sharing economy model to create a CDN (Content Delivery Network). To some extent, this is also the embryonic form of today's DePIN.
As the AI industry rapidly develops, with the proliferation 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 greatly enhance productivity and improve production relationships, can be integrated. This entry point has also become his 'entry point' into the Web3 industry.
Focusing on Web3 + AI agents.
Looking at the entire AI industry, 'Web3+AI' is still a very niche track, and even many popular 'Web3+AI' projects have been criticized for being 'poorly made.' In reality, Wang Xin's time and understanding of the AI field may exceed that of most current Web3 practitioners.
Based on his personal experiences in entrepreneurship and investment, Wang Xin stated that if small companies and teams were to create a general-purpose AI platform, the cost pressure would be immense. Computing expenses often account for 80-90% of the budget, making it difficult for entrepreneurs to sustain. He believes that rather than creating a general platform, it is better to focus on vertical scenarios, creating 'small and beautiful' practical products, or finding alternative paths to combine AI with Web3 to explore new business models.
'AI is very centralized, including large models that are super centralized. It has nothing to do with Web3. At this moment, we pondered, which part of AI relates 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 selection of results by humans effectively contributes to 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 this agent. At this point, the ownership of the agent and the distribution of benefits should rightfully belong to these contributors. With Web3's public key/private key system, each agent can have a unique on-chain identity, and smart contracts can record every contribution and corresponding benefits in real-time, ensuring that 'data contributors' genuinely become 'value receivers'.
Additionally, Wang Xin believes that the two core aspects of Web3 are asset issuance and asset transfer, with the former becoming increasingly accessible 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, operating teams, and ordinary users all gain their due benefits within the ecosystem. He pointed out that the solution lies in enhancing product capabilities and effectively utilizing Web3 to reshape production relationships, which contains enormous potential for innovation. For example, addressing pain points such as high learning costs in Web3, private key management, and gas fee settings, to avoid alienating the majority of netizens. Only when on-chain experiences are closely aligned with people's daily operations can new professions, communities, and entrepreneurial opportunities emerge.
'Hidden' gaming giants' views on chain games?
Aside from video players, KuaiBo's gaming platform 'Kuaiwan Game Box' was once a significant income source for the company. This platform, integrated with a vast number of games, opened the door to the world of single-player games for countless players. At its peak, it was even on par with Steam in China, with over a million monthly active users, surpassing most blockchain game projects. However, the once-promising gaming track in the Web3 field is now in a prolonged slump.
'Playability and decentralization are hard to achieve simultaneously.' When asked if he is optimistic about the prospects of Web3 games, Wang Xin admitted that truly fun games do not depend on Web3 for their existence. In fact, whether it is a blockbuster game or past classic web games and single-player titles, players chase immersion and fun, not the underlying technical implementation. The correct path should be to start from 'a certain link.' For example, using on-chain low-cost payments to replace traditional credit cards and App Store revenue sharing, saving 3-10% in transaction fees to alleviate the pressure on game manufacturers to acquire users and monetize. Additionally, in the process of cross-border distribution, completing player top-ups, revenue sharing, and withdrawals using stablecoins or multi-chain wallets allows developers to reduce costs without expensive advertising.
'If a new game carries both innovative gameplay and a Web3 model, the chances of success are extremely low.' Wang Xin pointed out that the core of gaming has always been content. Regardless of how technology evolves, players pursue storylines, visuals, controls, and social experiences. The correct path should start from 'a certain link'. For example, using low-cost on-chain payments to replace traditional credit cards and App Store revenue shares, saving 3-10% in fees to alleviate the pressure on game manufacturers for acquiring users and monetization. Furthermore, in the process of cross-border distribution, using stablecoins or multi-chain wallets for player top-ups, profit-sharing, and withdrawals allows developers to reduce costs without expensive advertising.
When payment and profit-sharing are seamlessly integrated into the game without players noticing, they enjoy the traditional gaming experience while unknowingly using Web3 infrastructure. Developers will also reduce intermediary profit-sharing, and with more revenue, they can continue to provide better products. 'Therefore, how to ensure they make a profit, I believe it should be through these changes in production relationships brought about by Web3.'
Why support the meme coin Fair3?
After entering the Web3 industry, Wang Xin's identity seems to have shifted from a continuous 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, it is not a traditional 'project,' but an ecosystem centered around the core concept of 'technological fairness.'
Wang Xin stated that Fair3 originated from a purely meme coin, and after a group of core members (the CTO team) took over, they began to contemplate a more profound vision: not only the cultural attributes of the community but also 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 traditional internet, transforming the culture of 'sand piling up into a tower' into tangible ecological value.
'Every transformation of production relationships in history has solved the core issues of the time: agriculture solved food problems, 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 take high commissions from creators, with e-commerce customer acquisition costs reaching 30-40%, and content distribution cuts even reaching 90%, all of which are unfair practices. What Fair3 aims to do is to gather the 'sand grains' of countless small individuals, through community cohesion and voice, to reveal injustices and utilize decentralized technology to achieve a shift from cultural construction to ecological implementation.
For example, the CTO team has organized several small-scale meme culture creation and sharing activities, where community members record their 'unfair stories,' documenting personal encounters and providing mutual support. Recently, the community also initiated the 'Delivery Fairness' campaign, encouraging community members to support JD Delivery and airdrop tokens to participants, revealing and correcting the unfairness in platform subsidies and commissions through actual consumption behavior, etc.
Wang Xin revealed that Fair's overseas community has reached a scale of 20,000 to 30,000. As 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 to holders and consumers.
What is technological fairness?
During the interview, Wang Xin repeatedly mentioned 'technological fairness'. He also shared with us the detailed connotation of this concept: to truly achieve technological fairness, it is essential to meet three criteria 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 allowed. Only when participants can clearly see the logic of the algorithms can they maintain trust in their results; once algorithms become opaque, it will trigger widespread skepticism and resistance. Wang Xin stated, 'All our projects will adhere to algorithm open-sourcing to ensure all users have equal rights to know the system rules.'
In the training of large models and various digital services, massive amounts of personal data are often harvested by platforms for free and used for commercial monetization, while original creators and ordinary users struggle to gain any benefits or rights. Technological fairness demands that every piece of data should be owned and used by its creator, and there should be clear proof of rights on the chain. Only in this way can individuals truly become 'masters' in the digital economy, avoiding scenarios where they contribute value for free but are deprived of their earnings.
Wang Xin believes that individuals should not only be able to participate in technology construction and data provision but also continuously earn economic returns through their contributions and consumption behaviors. He cited his friend Li Xueling as an example—after Li received an injection for weight loss, he shared his experiences in the community and purchased stocks in the biotech company; when more people benefited from his recommendation and further invested, both the original recommender and the audience received dual returns of 'consumption + investment'.
He also pointed out that traditional delivery workers, despite their hard work, 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 total 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 mass foundation, Wang Xin seems to have the conditions to issue personal tokens and 'collect' membership fees.
'This is just a meme,' Wang Xin responded with a smile. When KuaiBo was forced to shut down, it was precisely these users' voices, like 'sand piling up into 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 'overdrafting fans' for him, which does not align with his pursuit of technological fairness and could capitalize on supporters' emotional capital. Therefore, 'I will absolutely not issue personal tokens.'
Furthermore, he believes that KuaiBo can only represent the past, while high-quality memes (such as cats and dogs) are cultural symbols that can transcend time and represent the future. The 'past nature' 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 hype Fair3 and take advantage of people, Wang Xin candidly admitted that he also had moments of 'backing down' for fear of causing trouble. However, the support from the community solidified his resolve, as many believe he is not here to 'take advantage of people,' and quick money-making is not the goal.
He revealed that Binance co-founder He Yi had privately communicated with him, advising, 'Issuing tokens is like issuing debt.' Once a token is issued or supported, one must take on the responsibility and debt to the community. He sees himself as owing a 'debt of technological fairness' and must continually 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 lies in consistently improving the products and community, ensuring that holders genuinely benefit, thereby achieving sustainable ecosystem development.
Wang Xin further stated that he and his team, as well as their fund, are striving to improve products and business models, hoping that early participants can continue to receive returns. He likens the platform to a live-streaming ecosystem, hoping that everyone has the potential to create value.
He also shared his experience of educating his family about Web3, stating, 'I am also working on a Web3 construction for my family.' Wang Xin mentioned that he has introduced his wife and children to Web3, such as having wallets and trading meme coins, and even made some small profits in 'PVP'. He encourages his high school daughter to think about the needs of her peers, such as game boosting and blind box exchanges, which may be realized through simple tools and token designs to form a small-scale community economy.
'I believe that future opportunities lie in AI and Web3. If she starts getting involved now, it would be a very good thing,' Wang Xin added.
