Asia’s Unique Approach to Web3: Insights from ARC’s Elroy Cheo
Elroy Cheo, co-founder and architect of influential Web3 collective ARC, is on a mission to redefine the dynamics of digital communities. Cheo and fellow entrepreneur Kiat Lim, the son of billionaire businessman Peter Lim, have made ARC into a hub for collaboration for the global Asian diaspora, enabling members to use a Stellar NFT and a Soulbound Token called Fyrian to get access to the ARC app, as well as exclusive events and merchandise. Cheo’s vision is to build a meritocratic network rooted in shared goals and collective action.
How Personal Experiences Shape ARC’s Vision
Elroy Cheo’s journey from commodities and property development to crypto has shaped his approach to ARC. His unconventional background in overseeing a mega-city development in China emphasized the power of bringing people together to create something meaningful out of nothing. This experience instilled in him the importance of creating value, which led to the founding of ARC as a digital-first institution focused on alignment and collective action.
Creating Genuine Connections at ARC
At ARC, the emphasis is on building genuine relationships within the community. Members value access to professional networks, opportunities to make money through token allocations, lifestyle experiences like meeting celebrities, and personal growth through mentorship. The community promotes a “give value to receive value” ethos, drawing from Chinese culture’s concept of mutual support and guanxi.
Asian Web3 Communities and NFT Evolution
Asian Web3 communities differ from their Western counterparts in their reserved nature but massive liquidity potential. Cheo highlights the need for Asian communities to engage more publicly to capture global mindshare. The evolution of NFTs towards pseudonymity excites Cheo, as they can serve as status symbols representing expertise and achievements, creating digital identities with real-world impact.
Overall, Elroy Cheo’s insights into Asia’s unique approach to Web3 and NFT innovation shed light on the power of community, value creation, and genuine connections in the digital space. His vision for ARC as a hub for the global Asian diaspora exemplifies the potential for collaborative networks to drive innovation and change in the Web3 landscape.