"Interview Date: March 14, 2024"
1. Can you introduce yourself and your achievements?
Hello everyone, I am Xiaofan. The founder of the Youyuyoufan community is committed to sharing information about the Web3 industry, including first-level investment research, secondary markets, Lu airdrops, POW projects, etc.
Youyuyoufan is jointly managed by Big Fish and I, undertaking the operation and traffic growth of the brand's IP, and being responsible for the operation of the community. We focus on video information sharing and live broadcasting. We share Web3 content through YouTube, Douyin and WeChat video accounts. We also publish real-time information on Twitter, as well as some funny jokes and interesting life stories.
In 2023, we operated a Web3 mobile game. Although funds and manpower were very limited in the bear market, through unremitting efforts, we finally obtained millions of dollars in strategic investment from a listed company in Hong Kong. This operational process of building a brand from scratch gives us a sense of accomplishment.
2. Can you share your opportunity to join the circle?
I entered the circle through the Filecoin wave. I once founded an IT Internet company and ran it for 11 years. But due to the mask period, our business has been severely affected and our performance has declined sharply. This made me re-examine the direction of development in the next ten years. I realized that innovation in the Internet and hardware fields has been relatively flat for a long time, which is not consistent with my personality of taking risks to develop markets, communicating with people, and pursuing innovation. Therefore, I began to think about whether I should switch fields to seek new development opportunities.
At that time, I had a very close customer who built an exchange. I thought it was similar to the Shanghai Stock Exchange or a securities exchange. Later I found out that it was a digital token exchange. The core switch of their exchange had data. I will talk about the cloud, the entire hardware and the Internet. I found that digital token exchanges are very similar to traditional exchanges, but their concepts and ideas are different. Through this project, I learned about the concept of decentralization, digital tokens such as Bitcoin, and projects like Filecoin, which inspired my enthusiasm. Looking back, I am very grateful to the people at that exchange. It was him who gave me some understanding of Web3. He exposed me to some new ideas and made me feel that I could do something innovative, which would be more in line with my personality.
Later, I started a business with several like-minded people to provide storage server hardware and software services. I was responsible for operations in the company and participated in some investment research and community management work. In the past ten years, my work has mainly focused on marketing and technology, mainly contract signing and technology development. Operating in this field is my first contact, and working with community brands is also a new challenge. During this period, we worked hard to let everyone know about our company, what Web3 is, our expertise in computer rooms and technology, and the hosting services we provide. This also allows us to gain a certain amount of wealth after the successful operation of the company.
It really is one year in the currency circle and ten years in the human world. When the price of BTC reached 69,000, we already had hundreds of millions of assets on our books. Perhaps at that time, we felt that the money came too fast and too easily, but we did not realize it in time. As a result, we entered a bear market, and we soon ran out of money. At that time, everyone was very frustrated, and there were differences in business philosophy. I finally chose to leave the company.
After leaving, I started traveling to explore the world, climbing mountains, visiting stores, and camping, and I always kept my attention on Web3. Later, I created Xiaofan’s account on Douyin. The videos I initially posted were all about travel and store visits, and gradually turned to Web3 themes. This experience allowed me to understand the gameplay of Web3, recognize its rules and bull-bear cycles, and how to operate and manage my own community. At the same time, I accumulated a lot of valuable experience.
Core content: Enter the circle through Filecoin. He once started a business and operated in the IT Internet industry for 11 years, but his business suffered a setback during the mask period, which triggered a rethinking of the future development direction. By cooperating with digital token exchanges, I have a new understanding of Web3. I am especially grateful to them for letting me understand the concept of decentralization and stimulating my interest. Subsequently, my team and I founded a company that provides storage server hardware and technical services, and achieved certain achievements in the storage field. However, the arrival of the bear market failed to realize the cash in time, resulting in the company's asset losses, and eventually chose to leave the company. After leaving my job, I began to explore travel and share travel and Web3 related content through Douyin, gradually accumulating rich experience.
3. Can you tell us in detail about the projects you are working on?
Currently, the project I am working on is the construction of a community with fish and food, and I am jointly responsible for it with Big Fish. We got acquainted on Douyin and found that our ideas were very consistent with each other, so we decided to merge the two communities into a stronger whole, so we established the Youyuyoufan community. Now there are multiple groups in the community that are basically full, attracting thousands of fans. Together we make videos about Web3, undertake some new creative project plans, incubation, promotion, brand operations and link more communities, with the goal of bringing more new project ideas from scratch to reality. We are currently screening a few projects, but I can’t reveal too much due to the confidentiality involved. We also hope to build Youyuyoufan into a community that is well-known in the Web3 field.
Core content: Big Fish and I jointly built a community of fish and rice, attracting thousands of members. We produce videos about Web3, and also undertake new project solutions, promotion and brand operations. The goal is to promote more projects from concept to actual implementation and build a well-known Web3 community.
4. What is your most memorable experience in Web3?
I am from a technical background, so my most unforgettable experience is in the technical research of POW. Over the past few years I have been involved in projects such as HNT, CRU, CHIA and most recently ALEO and SMH. Participating in these projects makes me very happy because I like to try new things, such as the DePin track, which was a big hit last year, and I am keen to study various projects within the track. Every time I think of these experiences, I remember them vividly.
At that time, I heard that the HNT project was carried out through radio, and I thought it was very novel. After I started contacting it, I discovered that the investment in new equipment could pay for itself in a few days. Then I bought a large number of high-priced HNT machines, which are similar to the set-top boxes at home, as well as some antennas and matching accessories. Later, we discovered that the machines do not need to be placed on the roof or balcony. We only need to put the machines in one room and remove the antennas, which can also generate revenue, which makes the efficiency higher.
Soon, after the official discovered this cheating bug, they implemented a strict blacklist mechanism, allowing members of the community to report each other. Anyone who found cheating could vote to report, resulting in consensus differences, and the pass The price plummeted, and the project also hit rock bottom. Because it is a new Leek, it entered the bear market for the first time, but it has not realized any cash. More and more equipment has been invested, and the losses have become more and more serious. This experience is very unforgettable for me. But in some subsequent new projects, such as good projects like ALEO and SMH, there are still good results.
Core content: Have an unforgettable experience in POW. It makes me very happy to be involved in projects such as HNT, CRU, ALEO and SMH. I like to try new things, such as DePin, and am keen on studying various technologies. In particular, HNT's method of using radio to generate income makes me feel very novel. Later, due to cheating, the equipment suffered serious losses.
5. Can you share the skills or fields that you think you are good at?
In Web3, although I am good at technology, my areas of expertise are food and travel. I absolutely love frying steak and enjoying the process of making it. I may not be able to cook Chinese food at home, but I will definitely cook Western food. I also love red wine, travel, and especially shoot landscapes with my DJI drone. As a pilot, I have bought many DJI drones. But now because I am busy with Web3, I have almost no time to go out and explore new places. Some people joke that I am a traveler delayed by Web3. But I hope that in the next bull market, if I can get rich suddenly, I will cash out immediately, travel to various places, taste delicious food, appreciate the local customs, and enjoy life to the fullest. When the next bear market comes, I'll come back and build my career.
Core content: I am a technical person who is good in the field of Web3, but my real interest lies in food and travel. I like cooking western food and am also passionate about tasting red wine. In addition, I am also a flyer who loves traveling. Although I am currently busy with Web3 work, I am eager to achieve financial freedom in the next bull market and pursue my dreams of travel and food. When the next bear market comes, I'll come back and build my career.
6. What do you think are the potential development tracks in Web3 in the future?
The track I am currently optimistic about is zero-knowledge proof. Because BTC has reached saturation in terms of profitability, you have to buy a mining machine and find a suitable place to place it, especially in China where the situation is not ideal, but there are better options abroad. In addition, BTC’s L2 is adding technologies like ZKROLLUP, which makes the entire zero-knowledge proof track even more important.
Zero-knowledge proof technology can empower the BTC ecosystem, and can also empower some areas of the ecosystem such as ETH, such as ETH's Zks, Starknet and other projects. ZK's technology is very novel and efficient. Compared with other zero-knowledge proof technologies, ZK can process faster, so it may play a greater role in the fields of BTC, games, and privacy computing in the future.
If you want to choose an investment direction, I am more optimistic about BTC's L2 technology. Due to BTC's halving event and recent market trends, BTC's L2 construction and ecology are booming. Similar to the situation with ETH, BTC's L2 technology will also develop rapidly. At the same time, due to the large scale of Bitcoin's assets, some projects such as B2 and Merlin have attracted a large amount of funds.
Core content: ZK is an area of great concern, especially as Bitcoin mining becomes saturated. ZK technology can empower ecosystems such as BTC and ETH, and play an important role in the future of Bitcoin, games and privacy computing. In terms of investment direction, BTC's L2 technology has developed rapidly and attracted a large amount of funds.
7. What do you think about investing?
I believe the world of investing requires extreme caution, especially when dealing with money and risk. First of all, I firmly believe that investing should never be a blind act. I think deeply and evaluate my risk tolerance before investing. I ask myself, how much loss can I afford? I will consider the impact of losses on my life, family, and career. Only after I determine my risk tolerance will I develop a sound investment plan.
Secondly, I would not throw all my money into one project lightly. Instead, I will adopt a diversification strategy and spread my funds across multiple projects or assets. Doing so helps reduce the risk posed by a single asset or project, while also leaving me with more room for uncertainty.
When choosing investment targets, I will pay special attention to the development and upgrade opportunities of the project. For old projects, I will pay close attention to their subsequent upgrades and development, and whether they can adapt to market changes. For new projects, I will carefully evaluate their potential and participate in the early construction phase of the project to obtain more benefits.
In addition, I will also pay attention to investment opportunities in some emerging fields, such as AI. These areas may bring about some innovative projects worthy of our attention and investment. Finally, if POW is involved, I will ensure that I have the relevant technology and equipment and do a good job in risk management. If conditions do not allow it, I may choose to directly participate in currency market transactions instead of getting involved in the POW field.
Core content: In the field of investment, I am extremely cautious and do not invest blindly. First, assess your risk tolerance and consider the impact of losses on your life, family, and career. Secondly, adopt a diversified investment strategy to reduce risks and leave room to deal with uncertainty. Pay attention to project development and upgrade opportunities, and participate in the preliminary construction of new projects. Pay attention to investment opportunities in emerging fields, such as AI. For investments involving POW, ensure that relevant technology and equipment are available and risk management is done.
8. Do you have any questions that you would like to share proactively?
I firmly believe in continuously improving my knowledge level, whether in the blockchain field, AI or other fields. Reading books and learning new knowledge are essential for personal growth. From my personal experience, I knew nothing about Bitcoin and its concepts before entering the industry. Therefore, I firmly believe that when delving into the blockchain field, you must always keep up to date with the latest knowledge to stay competitive.
I recommend always keeping a keen awareness of the latest fields and technologies, and constantly learning and exploring new concepts. When you study in depth and master new concepts such as ZK, AI, etc., your knowledge base and insights will increase accordingly. I firmly believe that this pursuit and mastery of knowledge will not only bring about personal growth, but also lay a solid foundation for the accumulation of wealth.
Core content: I firmly believe that it is crucial to continuously improve the level of awareness, especially in the field of blockchain. Reading books and learning new knowledge is the key to personal growth. It is recommended to always remain sensitive to the latest fields and technologies, and constantly learn and explore new concepts, such as ZK, AI, etc., which will lay a solid foundation for personal growth and wealth accumulation.
