Talking NFTs with Cold Rabbit: From Web2 to Web3, the XRC Universe Has Only Just Begun
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Talking NFTs with Cold Rabbit: From Web2 to Web3, the XRC Universe Has Only Just Begun
Cold Rabbit's content is created based on topical scenarios, with some material emerging from interactions with users, generating strong resonance. Once this resonance occurs, it leads to organic, self-driven dissemination.
Navigating Web3 tides with focused insights
Text: 0xAlex
Crypto Punk is rebellious...
Bored Ape (BAYC) is somewhat gloomy...
Lengtu—Never back...
If you're a meme enthusiast, you might already have Lengtu saved in your collection. Open it up and take a look—perhaps those comforting days of "Believe in Lengtu, no heatstroke" and "Believe in Lengtu, pass every exam" will return.
We’re all familiar with the first two—natively Crypto PFP NFTs known for their high prices and open communities. In contrast, Lengtu feels different—it originated from Web2 and is now launching toward Web3.
The phrasing may sound exaggerated, but seasoned NFT players might recall that recently, Chinese-speaking crypto circles were scrambling for whitelist spots for XRC—the NFT project created by the Lengtu team. The founder, Yi Shuihan, even urged users not to FOMO.
I was quite curious why he would say that—after all, FOMO is often a key part of value discovery.
Here’s how Teacher Yi responded: “We certainly don’t reject FOMO, but we don’t want people jumping in purely out of hype or speculation. We’d like everyone to first understand XRC, decide whether they truly like it, and then use and hold it.”
Yes, understanding matters—and that’s exactly the purpose of this article.
From Lengtu to XRC
From comics to memes to humorous short videos, Lengtu has continuously evolved in recent years. It now boasts nearly 65 million followers across platforms and a range of merchandise, making it a classic Web2 IP.
In an interview, Yi Shuihan said: “Lengtu's content is topic-driven, often co-created with users, generating strong resonance. Once that resonance exists, organic virality naturally follows.”
Though the term 'meme' wasn't widely used back then, this was essentially the core of what a meme is.
In 2017, the founding team hosted an art exhibition in Hangzhou titled “Corridor of Time—Lengtu Meets Masterpieces,” replacing figures in famous paintings like Girl with a Pearl Earring with Lengtu characters, blending internet pop culture with fine art and bringing Lengtu from online into physical spaces.
Now, this year, it’s moving from Web2 to Web3—truly impressive hustle!
As I dug deeper through interviews, I realized their hustle stems from a deeper ambition: building a global IP. “Our dream is for Lengtu to one day spread Chinese culture worldwide, just like Disney or Pixar, through great stories, compelling formats, and smart commercial execution,” said Yi Shuihan.
Fortunately, this dream began gaining momentum when it encountered borderless “Crypto.”
On January 7,神fish, co-founder of Cobo, announced on social media that Cobo had partnered with the comic IP Lengtu—holders of Cobo’s 4th Anniversary NFT would get priority access to the whitelist for XRC, created by Lengtu.
Within days, XRC blew up on Twitter, Weibo, Discord, and other social platforms.
XRC stands for X Rabbits Club. While it inherits Lengtu’s original visual foundation, it’s a brand-new “species” born for going All-in on Crypto.
Yi Shuihan joked, “If you like, you can think of XRC as Lengtu’s ‘fork’ in the Crypto space.”
A fork? At first glance, it sounds like leveraging an old IP for secondary traffic monetization in Crypto.
But in reality, XRC isn’t targeting Web2 audiences. Instead, its target users are NFT players. Previously, XRC collaborated with native crypto communities, offering whitelist access to holders of native NFTs such as Bored Ape Yacht Club and Cobo’s 4th Anniversary NFT.
This strategy not only attracted attention from the player community but also allowed the Lengtu team to declare their full commitment to Crypto—Never back!
From Web2 to Web3
Why Never back?
To answer that, we need to go back to Lengtu’s former slogan: “Spread joy with heart.”
Teacher Yi explained that running Lengtu started from a初心—to bring joy not just to users, but to himself as well. Doing the right thing—even if difficult—is worth never turning back. Going All-in on Crypto today is no different.
This might sound overly idealistic. So we asked—won’t it seem too tame? Too un-edgy? Not enough “punk”? Not crypto enough? Not Web3 enough? Or international enough?
Teacher Yi channelled “Lengtu” and replied: “Moving from Web2 to Web3 is something the entire world is exploring. XRC won’t fabricate stories—we’re simply using ‘ourselves’ as the narrative. Within limited rules, we’re walking our own path to show people from both worlds what’s possible, and proving that there are quality projects and serious builders among Chinese creators—that’s enough.”
Lengtu is originally a Chinese IP. By entering Crypto and creating XRC, we must first let our domestic audience understand what it is! Is going global hard? The fact that XRC is minted on Ethereum means we’ve already stepped overseas. Once it ranks high on OpenSea, international attention will naturally follow.
Suddenly reminded of the book *“Method in Self,”* whose core idea urges people to “return to the self.” Using “self” as narrative shares similar logic—sometimes, returning to the essence of things is already cool enough.
The crypto world is inherently open. Its culture doesn’t have to be only dark, ugly, or countercultural—it can also embrace Lengtu’s “Never back.”
Currently, XRC’s top priority is perfecting the PFP (profile picture) experience. As Teacher Yi put it, if we can’t even make a good avatar, how can we justify doing anything bigger? The crypto industry is highly financialized, with many topics requiring study and research. The hardest part isn’t product design, selling whitelist spots, or clearing inventory on secondary markets—it’s what happens after everything is sold. That’s when our Web3 journey truly begins…
The End Goal: The XRC Universe
There are many ways to ignite an NFT PFP project—price appreciation being one. But relying solely on price isn’t sustainable. People crave stories, broad cultural penetration, a sense of belonging, and the ability to contribute passionately.
XRC aims to be the latter.
Take the iconic Bored Ape, for example. This NFT comes from the Bored Ape Yacht Club (BAYC), launched at the end of April 2021. It consists of 10,000 apes with unique traits and attributes. Though dressed differently and expressing various moods, they all share that signature bored expression.
Holding a Bored Ape NFT is like having a ticket to the BAYC club—membership status plus full commercial rights to your ape. You can license it externally or create derivative works. Every member can contribute to enriching the BAYC brand, merging the ape imagery with everything imaginable to build a rich ecosystem and community culture.
Similarly, the “C” in XRC stands for “Club.” The Lengtu team will start by building a club.
Teacher Yi believes NFTs are carriers of Web3 and the metaverse, offering Lengtu the opportunity to realize its vision. A Club serves as a vital organizational form for NFT growth—an archetype for future communities and the foundation of any NFT project.
Regarding the much-anticipated roadmap, Version 1 has been released. Staying true to its mission of building a free and vibrant metaverse while delivering tangible returns to the community, the official plan includes:
1. DAO
Establish a DAO to drive long-term project development;
Implement multi-signature and voting mechanisms so XRC holders can participate in community governance;
Under the DAO banner, support and collaborate with more artists and traditional IPs to enter the Web3 world together.
2. Airdrop
Airdrop limited-edition physical XRC merchandise and uniquely Chinese products to holders;
All XRC holders automatically receive whitelist access to future NFT series;
Collaborate with other NFT communities or artists to airdrop NFT artworks to XRC holders.
3. Branding
Partner with mainstream and niche brands to launch co-branded products;
Work with XRC holders to explore decentralized copyright management, licensing assets to third parties, and sharing revenue via tokenized distributions.
4. Metaverse
Purchase virtual land in the metaverse to continuously showcase X Rabbits Club content;
Collaborate with game studios to allow NFT holders entry into GameFi environments for Play-to-Earn;
Position XRC NFTs as essential avatar assets and status symbols within the metaverse.
That covers everything about XRC so far—I hope this helps you understand.
Finally, to wrap up with a golden quote from Xiao Ming (0xmin): No matter in the atomic world or the digital world, a truly powerful NFT must carry cultural significance. During my interview with Teacher Yi, I asked a similar question: As X Rabbits Club matures, what kind of cultural identity do you hope the community will embody?
Teacher Yi replied: “I can’t predict it, but the ultimate outcome will definitely be bright and righteous. The journey might be winding—just like the countless fan-made stories about Lengtu, some wise and uplifting, others twisted and dark.”
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