Elroy Cheo of ARC: 'Asia Is a Web3 Powerhouse, and It's Time We Capture Mindshare'

Elroy Cheo, co-founder and architect of influential Web3 collective ARC, is on a mission to redefine the dynamics of digital communities.

Elroy Cheo set out to redefine the dynamics of digital communities with ARC, a Web3 collective. Together with fellow entrepreneur Kiat Lim, son of billionaire businessman Peter Lim, they established ARC as a hub for collaboration within the global Asian diaspora. Members can use a Stellar NFT and a Soulbound Token called Fyrian to access the ARC app, exclusive events and merchandise. Cheo's vision is to build a meritocratic network rooted in shared goals and collective action.

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Here, Cheo discusses his vision for ARC, how his background in property development and music has influenced his approach and why Asia is uniquely positioned to lead the next phase of NFT innovation. Cheo will be a speaker at Consensus Hong Kong in February.

The following interview has been edited for clarity and brevity.

CoinDesk: How have your personal experiences shaped your approach to creating and building ARC?

Elroy Cheo: My journey is a bit unconventional — I started in commodities and property development. Before crypto, my last big project was overseeing a mega-city development in China. When I first arrived, it was just barren land, farmers and fields. We bought the land, built the infrastructure and now it’s a bustling city with a high GDP. That experience stuck with me — seeing how you can bring people together to create something meaningful out of nothing.

In 2016, I got into crypto thanks to my uncle — a 73-year-old software developer. We worked on a blockchain-based music copyright project to tackle siloed databases. Disputes over ownership are so common in the music industry and blockchain felt like the perfect solution to consolidate ownership records. Even today, that project’s still alive, and I’m proud it never relied on a token to survive.

That foundation as a builder shaped how I view crypto — it’s not just about investing or speculation; it’s about creating value. That led to ARC, a Web3 collective inspired by Balaji Srinivasan’s network state theory. While Srinivasan talks about these communities becoming nation-states (something we’re not doing), we are focused on building a digital-first institution driven by alignment and collective action.

CoinDesk: The word “community” gets thrown around a lot in Web3, often losing its meaning. How does ARC create genuine connections and stay grounded in principles?

Elroy Cheo: Community isn’t just about numbers or floor prices; it's about relationships. Without bonds between members, you’re building an audience, not a community. We realized that members value four things. First, access to professional networks, which means curated connections with builders and investors. Second, opportunities to make money, such as token allocations to investments. Third, lifestyle experiences, such as meeting someone like soccer star Cristiano Ronaldo, or engaging in exclusive brand partnerships. Finally, growth, whether it’s through finding a job or receiving personal mentorship.

We also promote a “give value to receive value” ethos. This idea is drawn from the concept in Chinese culture of guanxi and emphasizes mutual support. Members aren’t just here to “ask for alpha.” They support one another.

CoinDesk: What sets Asian Web3 communities apart from their Western counterparts?

Elroy Cheo: One big difference is how vocal Western communities are. They dominate crypto Twitter, while Asians tend to be more reserved. Culturally, platforms like Twitter aren’t as widely used here — Chinese users, for instance, are more active in private WeChat or Telegram groups.

Despite that, Asian liquidity is massive. A small Chinese community can drive $1 billion in DeFi protocol TVL in a day, which is rare in the West. At ARC, we recognize this strength but also encourage members to engage more publicly. Asia is a Web3 powerhouse, and it’s time we capture mindshare, not just liquidity.

CoinDesk: How do you see NFTs evolving, especially with respect to digital identity and utility?

Elroy Cheo: The shift toward pseudonymity excites me. People are moving from polished profiles on Facebook or LinkedIn to avatars. It’s empowering — kids can hide behind a PFP, yet their skills and knowledge shine through. At ARC, we’re exploring NFTs as status symbols. Imagine walking into a hotel or event, and your NFT gives you instant recognition. Beyond collectibles, NFTs can represent expertise or achievements, like badges on Stack Overflow. It’s about creating digital identities with real-world impact.

CoinDesk: With ARC’s membership capped at 888, how can the organization’s exclusivity and status-driven model continue to scale?

Elroy Cheo: Exclusivity works when it’s tied to brand value and proper community management. We’