Meta Connection | Baiyu: DAOs Are the Inevitable Trend in the Development of Metaverse Production Organizations
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Meta Connection | Baiyu: DAOs Are the Inevitable Trend in the Development of Metaverse Production Organizations
A metaverse without NFTs is not a true metaverse; NFTs are the value markers within the metaverse.
Navigating Web3 tides with focused insightsInterview/Text: Fang Qinyu
"A metaverse without NFTs isn't a true metaverse. NFTs are the value markers within the metaverse," said Baiyu in an interview with Yuanyouhui's "Meta Connection."
Baiyu is a co-founder of C-Society and founder of SeeDAO, a well-known Chinese DAO community. Within the Chinese NFT space, C-Society has long played the role of evangelist. Two months ago, C-Society officially launched SeeDAO, which has since become one of the most prominent Chinese-speaking DAO communities, aiming to help more creators enter the Web3.0 world.
Recently, the 721 incident stirred widespread controversy, leading some to criticize DAOs. Baiyu stated that DAOs represent the inevitable evolution of production organizations in the metaverse. The 721 incident teaches us that DAO founders should not begin by considering profit distribution in the circulation sphere, nor should they rely on any individual’s influence to drive the organization forward. "What we must guard against most is extreme decentralized populism."
Below is the main content of the interview:
I. A Metaverse Without NFTs Isn’t a True Metaverse
Meta Connection: Many people working on NFTs now avoid saying they're doing NFTs and instead say they’re building the metaverse. As an expert in the NFT field, what do you think about this trend?
Baiyu: NFTs and the metaverse are inseparable but not identical. We define NFTs as value markers in the metaverse—tables can be NFTs, houses can be NFTs, articles can also be NFTs.
If a world lacks value markers, ownership cannot exist. Without establishing ownership relationships, it cannot truly be called a metaverse.
Once we embrace this concept of ownership, a wide range of digital assets can be properly priced, large-scale trading becomes possible, and people will invest their time, energy, and social connections into this space.
A metaverse without NFTs isn't a real metaverse.
Meta Connection: C-Society previously served many NFT projects and could be seen as a niche NFT-focused social media platform. From C-Society’s perspective, which NFT areas related to the metaverse should we watch this year?
Baiyu: I’d like to clarify something—many assume C-Society is a media outlet because we share, translate, and create NFT-related content. But our positioning has never been media, nor did we ever intend to become one. Our mission is to help more creators enter the Web3.0 space—that’s our overarching vision.
On a smaller scale, we operate as a mature NFT issuer. If you’re an IP owner or a creator with a strong idea and want to launch an NFT project—including development, launch, operations, and expansion—we can assist at every stage. We refer to this collectively as NFT issuance.
This year, several areas stand out. First, major overseas IPs will enter NFT issuance—either converting legacy IPs or launching new ones, such as Nike and Adidas last year. Second, native metaverse brands will gradually rise; for example, I know of projects planning metaverse streetwear, accessories, cars, and other consumer goods—all with NFT versions. Third, NFT issuance and incubation services, like ours, will grow significantly.
Meta Connection: Why did you start with crypto art, and why are you now shifting part of your focus away from it?
Baiyu: We initially chose crypto art because it was the first area recognized by the market at that time. It’s not that we’ve stopped doing it—we’ve temporarily paused our marketplace operations due to certain reasons, choosing instead to focus on strengthening our crypto art studio. We believe China's crypto art scene is still in its early seeding phase. To make greater impact, we need to produce more projects first. Once there are more studios, we’ll revisit platform-building and trading.
II. DAOs Are the Development Trend of Metaverse Production Organizations
Meta Connection: SeeDAO was initiated by C-Society. Could you talk about what C-Society and SeeDAO are doing in the metaverse? And where do DAOs fit in the metaverse? What developments do you expect this year?
Baiyu: Back in November 2020, we organized a crypto art exhibition about Wuhan and the pandemic. Then in March 2021, we completed fundraising. Initially, we entered through the crypto art track, which led to the creation of Fengchao, our crypto art studio.
As NFTs and the metaverse gained popularity, we realized we could support more creators beyond just art. So we helped launch Rivermen, which became the first relatively successful domestic project—selling 10,000 NFTs in three days. After that, our goal evolved into helping more creators launch their own projects.
SeeDAO aims to become the largest DAO in the Chinese-speaking community. Competition in Web3.0 is fierce, and traditional companies are limited in number. Sometimes people aren't ready to fully commit, but they can start contributing within a DAO. We hope SeeDAO helps everyone realize their dreams. Specifically, it serves as a strong DAO for Chinese speakers, but our ambitions extend beyond mainland users. In fact, many overseas Chinese members already contribute valuable Web3.0 insights and tools. Going forward, incubation will be our top priority.
We currently have eight internal guilds. You can find suitable collaborators there, and we provide funding support and technical guidance so you can kickstart your own projects.
Our Translation Guild translated 33 articles in two months, with three gaining significant recognition in China. Some guilds are even developing their own brands. These guilds collaborate within SeeDAO, creating powerful synergies—far surpassing what a single company could achieve. A company’s ceiling is often its founder; a DAO’s potential is limitless.
Meta Connection: Are you modeling yourselves after BanklessDAO?
Baiyu: Our structure resembles BanklessDAO, but while Bankless leans toward media, our model is closer to Seedclub.
Meta Connection: Do you believe DAOs as an organizational form represent a trend in the metaverse?
Baiyu: Absolutely. People in the metaverse are international and globalized. In Web2.0, people join different communities based on interests, forming distinct groups. In the metaverse, affinity-based communities will similarly emerge.
The difference from Web2.0 is that here, we can generate economic value, build independent economies, and even issue our own tokens as small groups.
Under these conditions, DAOs arise naturally. When a group wants to accomplish something—with members in the U.S., Europe, etc.—it’s impractical to constantly form legal entities across jurisdictions. But putting funds into a smart contract, sharing a common goal, collaboratively executing tasks, and enabling automated revenue distribution makes perfect sense.
Meta Connection: Has your experience with DAOs matched your expectations? Where were the gaps? How did you overcome challenges?
Baiyu: There were some discrepancies between expectation and reality, but overall results exceeded expectations. I knew coordination within DAOs would always be the hardest part.
In practice, we’ve seen highly motivated SeeDAO members investing substantial time and effort—even those who work full-time at major internet firms willingly contribute. Secondly, as mentioned, we now have eight self-sustaining guilds, each developing internal governance rules.
One thing we need to watch out for is populism. At SeeDAO’s inception, some individuals baselessly attacked us and pushed for forks, repeatedly voting on whether treasury funds should be split. Through experience, we’ve learned that not everything should be subject to voting, nor should leadership roles be determined solely by charismatic speeches. Such populist systems risk replicating the decline of Athenian democracy in ancient Greece—the kind of environment that led to tragedies like Socrates’ execution.
Now we realize that ultimate decentralization isn’t the most important goal—openness and transparency are.
Meta Connection: The 721 incident prompted reflection on DAO feasibility in China. Did this affect SeeDAO? What reflections do you have on DAO governance?
Baiyu: After the 721 incident, our community didn’t question the feasibility of DAOs in China. We proactively discussed the event recently to learn lessons. Overall, we remain confident because SeeDAO doesn’t focus on profit distribution in the circulation domain, nor do we leverage any individual’s personal influence to drive the DAO. Our fundamental approach is quite different.
Our mission is to incubate NFT projects. We care deeply about content creation in the metaverse. It took us two months just to build SeeDAO’s current framework, and we still can’t claim it’s complete.
Additionally, we must clearly articulate our principles of openness and transparency.
Finally, regarding core team incentives in DAOs, we currently rely on two mechanisms: For smaller contributors, we record POAPs (Proof of Attendance Protocols), akin to work points, enabling retroactive community airdrops in the future. For larger contributions, we use treasury funds to pay salaries.
III. Decentralized IPs Align With the Vision of Web3.0
Meta Connection: When did you first get interested in NFTs personally? What triggered it? What specific event led you into your current projects?
Baiyu: When I graduated in 2017, I read the Bitcoin whitepaper and was drawn to its utopian vision. My academic background is in chip design. Later, I noticed Tang Han (founder of C-Society and SeeDAO) changed his profile picture to a CryptoPunk, which I thought was cool. He introduced me to NFTs. Soon after, he invited me to write an article, and we began researching together—eventually deciding to build this together.
Meta Connection: I noticed you previously used a BAYC profile picture. Are you a holder?
Baiyu: The first NFT PFP project I bought was BAYC. I had also purchased some 1/1 artwork NFTs earlier on Foundation.
I didn’t buy early—I purchased it after The New Yorker published its feature on BAYC, when prices were around seven or eight ETH. I was actually the one who translated that article into Chinese. It deeply resonated with me, especially the founders’ perspectives. So I decided to try it myself. After switching my avatar to a Bored Ape, I found I gained over 100 new followers in a single day—proving its real influence. Moreover, BAYC represents an expandable culture that challenges existing copyright systems. We summarize this as decentralized IP, which perfectly aligns with the vision of Web3.0.
Meta Connection: Who is someone in the NFT space you admire most, and why?
Baiyu: Artist PAK. I believe he truly defined NFT art. First, we must acknowledge Web3.0's financialization aspect—PAK’s works masterfully incorporate financial mechanism design. Second, interactivity with the public—he achieved that too. Finally, leveraging the programmability of smart contracts: true NFTs require technical experimentation via smart contracts, and I think he’s a genius in design.
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