KungFuDAO is an online community aims to co-create a KungFu ​novel on blockchain.

The project had ended due to limited budget and low liquidity.

The reason for creating KungFuDAO was quite simple: I was ​reading Joy of Life and re-reading The Legend of the Condor ​Heroes, both of which fueled my passion for kung fu novels. Unlike ​Harry Potter or The Lord of the Rings, which are famous ​worldwide, these kung fu novels are mostly known within the ​context of Chinese culture. I believe the fascinating elements, the ​weapons, and the unique techniques in these stories are truly ​captivating and deserve to be shared globally, allowing everyone to ​experience the magic of the East.

At the same time, I was exploring blockchain applications, ​reviewing numerous projects and reading a lot of white papers. I ​saw many applications integrating IP with Web3, and it struck me ​that getting started with these applications didn’t seem too ​challenging. They didn’t require advanced programming or ​development skills—especially since I have GPT to help me write ​code. So, I thought, why not create one myself?

So, I thought about combining kung fu novels with Web3. I’d ​previously seen someone attempt to use Web3 incentives to co-​write a sci-fi novel, and I thought maybe we could use a similar ​approach to collaboratively write a kungfu novel. And that’s how ​KungFuDAO was born.

Relying on the platform’s traffic, we quickly gained attention, ​achieving our target of 1,000+ Twitter followers and 300+ group ​members within a few weeks. It was time to set up our tokenomics ​carefully. But that’s where the challenges began.

Initially, we wanted to create a forum similar to the Backrooms ​concept, where everyone could contribute their own stories within ​a shared world. Stories could either interconnect or exist ​independently, and through a token-based incentive system, ​contributors would earn tradable tokens as rewards for their ​content.

However, our token, meant to be a utility token, started to resemble ​a memecoin. Our tokenomics design was too simplistic, and as we ​promoted it on Pinksale, our presale didn’t generate enough ​interest to support the token’s launch on a DEX. I invited friends ​who were interested in the project to join, and everyone pooled ​their savings. But after burning through nearly 30,000 RMB, we ​could only raise about one-fifth of the liquidity required for launch, ​and ultimately, our token didn’t make it to market. This plan ended ​in failure.

KungFuDAO was just my first attempt in the blockchain space. ​Success or failure didn’t matter as much as the experience I gained ​from this project. I started to recognize Web3 scams, learned how to ​ignite a community, and came to understand the many risks and ​challenges in a Web3 project through hands-on experience.

I’m looking forward to my next adventure.