From Kuaibo to web3, what is FAIR³ supported by Wang Xin?

Authored by: Luke, Mars Finance

This afternoon, a piece of news has triggered widespread attention in the crypto community: serial entrepreneur Wang Xin has decided to purchase FAIR³ tokens with 200 SOL and pledged to invest half of the funds into the ‘Technology Fairness and AI Support Fund.’ This move caused the market value of FAIR³ to skyrocket instantly, surpassing $50 million directly. However, it has also sparked many speculations: why did this entrepreneur, who once changed the landscape of the Internet industry with ‘Fast Play,’ choose such an idealistic project for his first foray into the Web3 field? From being a disruptor in the past Internet to now exploring Web3, Wang Xin’s decision seems to reveal a deeper level of thinking—whether his ‘technology fairness’ ideal can once again ignite the spark of industry revolution in this new digital era?

From Kuaibo to Web3

Wang Xin, as the founder of Kuaibo, once caused a huge wave in the Internet industry. His unique combination of technology and idealism is admirable, but also comes with considerable commercial controversy. As the “father of Kuaibo”, he once made streaming technology a part of everyday life for the masses, but also got involved in many legal and social controversies, making his exploration between technology and business particularly complex and tense. Now, this entrepreneur who once made a splash in the streaming media field has turned to the Web3 world, declaring that he will open up new horizons in this emerging field with a “learning mindset”. Although he seems low-key, his goals are not to be underestimated - to promote technological fairness, empower every digital creator, and change the deep-rooted power imbalance in the Internet ecosystem.

In the Space on January 10, Wang Xin delved into why he chose to join Web3. He mentioned, ‘I see the unfairness in Web2, and I don’t want to be part of a system where technology only serves a few.’ His words not only reveal a deep dissatisfaction with the current technological landscape but also show his expectations and determination for the future. Despite Wang Xin repeatedly emphasizing that he does not intend to issue coins personally, but chooses to realize his vision through investing in FAIR³, his actions have already caused quite a stir in the industry. In his view, FAIR³ is not just a cryptographic project but also a tool for realizing ‘technological fairness,’ which he firmly believes can be a crucial opportunity to reshape the digital creative ecosystem through blockchain technology.

As the CEO of Horizons Ventures, Wang Xin’s investment experience in hard technologies such as healthcare and new energy undoubtedly provides him with more strategic depth in entering the Web3 field this time. When talking about his entrepreneurial philosophy, he mentioned, ‘In my past experiences, I have always adhered to one principle: to make technology serve the masses, not just a few elites.’ This statement not only reveals the goals he pursued in his early entrepreneurial endeavors but also sets the tone for his exploration in Web3. Through FAIR³, Wang Xin hopes to promote a more open and fair creative environment, where technology and capital are no longer tools of power in the hands of a few, but empower every ordinary creator.

With the promotion of FAIR³, Wang Xin’s ideas have been further expanded. In his view, Web3 is not only a decentralized network, but also a revolution revolving around "technological fairness", he firmly believes that blockchain and AI will strongly promote the democratization of creation. For him, FAIR³ is not just a project, but also a new social model that can break through the “exploitation” of creators by traditional Internet platforms and achieve a more reasonable value distribution.

What is FAIR³ project?

The core concept of FAIR³ is a challenge to the ‘exploitation model’ of traditional Internet platforms. First, FAIR³ seeks to reconstruct the value distribution model - through blockchain technology and smart contracts, directly returning copyright income to creators, reducing the cut taken by intermediaries. For example, on traditional platforms (such as YouTube), 45% of advertising revenue is usually taken by the platform, leaving creators with only the remaining portion. FAIR³ automates all of this through decentralized smart contracts, allowing creators to receive more actual income. As Wang Xin said: ‘FAIR³ is not just a tool, it is about changing the rules of the industry, the value of technology must return to the hands of every creator.’

At this point, FAIR³’s ambition is not only limited to “fairness”, but also to “empowerment” - it not only provides a fair platform for creators, but also empowers them with AI toolchains. These toolchains will greatly reduce the threshold of creation, helping those who have been excluded from the creation field due to technical difficulties to enter. For example, the AI tools provided by FAIR³ can help creators automatically generate poems, perform multilingual translations, and even ensure the ownership of creators’ digital assets and creative achievements through decentralized storage technology. All of this allows creators to express themselves freely, without being restricted by cumbersome technical operations. Wang Xin clearly stated: “Technology is the freedom of creators and should not be their burden.”

In the process of building the entire ecosystem, Wang Xin also emphasized the importance of ‘community governance.’ He used 100 SOL to purchase FAIR³, committing to supporting technological development and the universal application of AI, aiming to promote the community’s governance together. This concept of ‘governance’ is fundamentally different from traditional corporate governance structures; it is more decentralized, fully embodying the spirit of Web3. Wang Xin’s thoughts on the ‘governance’ mechanism are expressed in his words during the conversation: ‘We want to establish a true creator economy, one that is shaped by every creator and every user together, not decided by a few.’

The core mission of FAIR³ is not only to challenge existing Internet platforms, but also to launch a ‘movement for equality’ to the entire creative ecosystem. Wang Xin raised a rather radical question in the FAIR³ manifesto: ‘When AI can paint like Picasso, why can’t it help every child create their own style?’ This question is not only a technical challenge, but also a profound reflection on cultural and social levels. FAIR³ hopes to break the monopoly of elites in creation through technology, allowing those ‘invisible creators’—such as graffiti by factory workers, herbal formulas by traditional Chinese medicine practitioners—to obtain the economic autonomy they deserve. Behind this idealism is Wang Xin’s profound pursuit of ‘fairness’ and ‘freedom,’ as well as the hope that the Web3 world will provide opportunities for countless ordinary people.

public opinion

During the launch of FAIR³, it is imaginable the public pressure that Wang Xin faced. Although his original intention was to promote technological fairness, the project’s release has sparked controversy and doubt. Some comments pointed out, ‘Mr. Wang, doing this is just creating a token, you won’t make money in the end, and you’ll be scolded.’ Some criticized his high-profile entry at this time, almost as if ‘letting the front-row addresses make a wave of profit first,’ they believed Wang Xin’s operation was ‘too obvious,’ almost ‘playing’ the community. Some voices were even more straightforward, criticizing the release model of FAIR³ as almost ‘insider trading,’ with early investors making substantial profits while ordinary investors are left holding the bag. They said, ‘As soon as you call, everyone comes to take over the front addresses. It’s supposed to be a fair launch, how could it be like this?’

However, there are also some supporters who defend Wang Xin, believing that he did not “harm” anyone, “Mr. Wang’s intelligence is not lower than yours, everyone should reflect on the reasons for their losses, it’s not about poor technology, it’s about your choices and judgments.”

Of course, there are still many nostalgic fans: “Late membership fees, are you better off without the membership fee?” After all, who can deny the joy Wang Xin brought us before?

Marsbit Note: Wang Xin reiterated, ‘Fast Video itself does not belong to me personally. I will not issue coins personally, nor do I have the qualifications to issue coins for Fast Video. I will not benefit from this matter. Any tokens issued in the name of me personally or Fast Video QVOD are not related to me, please do not believe.’

Summary

In the face of these reactions, whether Wang Xin can fulfill his commitment to “fairness” and truly make creators profitable through technology, rather than only providing windfall profits for a few early investors, remains an unsolved mystery. The emergence of every new technology is accompanied by doubts about its fairness and transparency. In order for FAIR³ to stand out in this challenging market, Wang Xin and his team will inevitably need more efforts to achieve true decentralization and fair competition. As Wang Xin himself said: “I am not here to do a short-term profit project, but I hope to do something that can benefit people in the long run.”