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The social token trend is on the rise: Learn about these unique projects and ecological tools

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The social token revolution has just begun, let’s explore the seed players in this space.

Original title: "Exploring the Social Token Revolution"

Original author: Andrew Steinwold, partner of cryptocurrency investment fund Polynexus Capital, founder of NFT podcast Zima Red

Original translation: ethan, DAOSquare

Social tokens are a new type of tokens that are receiving more and more attention: some individuals and communities have begun to issue their own social tokens. I want to understand this growing ecosystem as soon as possible and explore Some basics.

The rise of the social token trend: Learn about these unique projects and ecological tools

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What are social tokens?

Social tokens are cryptocurrencies created by individuals or communities. They broadly fall into two categories: personal tokens or community tokens.

Personal Tokens are created by individuals and are typically exchanged for labor. For example, spending 100 tokens to ask a designer to help you work for an hour is to use personal labor to drive the value of tokens.

Community tokens are typically used for membership and community. For example, you need to have community tokens issued by community creators to enter private telegram groups, obtain special services, news, etc. Encourage everyone to contribute to the community by issuing tokens. For example, the community initiates a competition, and token owners decide the winner by voting.

For more personal tokens and community tokens, please click here follow twitter.

As you know, social Tokens have limitless uses, and this is just the beginning of this revolution. As the ecosystem continues to improve, more and more social tokens will be generated.

Social Token Project

Note: I am a holder of all social tokens below.

As mentioned earlier, a social token is what you want it to be, so it's always fun to explore different social tokens and their unique uses . Let's take a look at some of the social tokens in the market.

Alex Masmej - $ALEX - Circulation - 10,000,000

$ALEX is charming, It has attracted the attention of many people and attracted many people to hold it. . Initially Alex Masmej raised $20,000 through an initial offering to support him going to San Francisco to start his own blockchain business. $ALEX earns modest income from sharing agreements and personal IPOs. The income sharing contract is very interesting: 15% of the total income he generates will be distributed to token holders every quarter for the next 3 years. The token holder is like an investor, who can meet with the investee one-on-one and has the right to restrict the behavior of the investee. For more information about $ALEX check out the medium blog.

Carlos Gomes - $SWAGG - Circulation - 10,000,000

$SWAGG is a multi A community encrypted token with multiple uses, its creator Carlos Gomes said: "The purpose of SWAGG is to use encrypted tokens to closely link community culture and creativity." In other words, $SWAGG has countless uses. Holding $ SWAGG can enter the ecosystem around SWAGG. His benefits include:

Allow access to the content of the SWAGG network

Allow review and release Content of SWAGG

Receive rewards from independent projects in the community

Get rewards by sharing content

Exchange tokens in the community

For SWAGG COMMUNITY ACTIONS Suggest and Vote

In the near future, holders with at least 10000 tokens will get community governance voting rights. This gives community members the opportunity to directly control the network. For more information on $SWAGG visit the blog.

Brian Flynn - $JAMM - Circulation - 10,000,000

$JAMM is now available for access The electronic journal called "Jamm Session", its creator is Brian Flynn. (There is very good information in it, I recommend everyone to subscribe to him). You need to spend 1000 tokens $JAMM to browse his e-journal. This is news with a unique perspective, and if I buy a journal to read with a credit card, I have little incentive to tell my friends. But if I buy it through Jamm Session, I'm more than happy to share it with my friends. Because the more people buy $JAMM, the more I earn myself.

A newsletter and incentive mechanism that utilizes social tokens is perfectly connected. Most e-journals monetize in a linear fashion, for example a user can subscribe for $5 a month. But based on $JAMM, news providers can make money exponentially. The user spends 1000 $JAMM, buys news, and is more interested in introducing this e-journal to friends, so more users will sign up and make $JAMM have greater demand. Such a mechanism has led to the collective prosperity of the Jamm Session community. His creator, Brian, has received a lot of investment and social support, and has achieved good results in all aspects.

Coin Artist - $COIN - Circulation - 3,470,000

Makes $COIN interesting to me Best of all, it's always adding new features to it. Every version statement of $COIN is also very interesting, because this is an "inclusive and experimental game community network".

Holders of $COIN now have access to a community called "E-Den" that has direct and exclusive input on $COIN. You can do some interesting things like designing encryption puzzles in the community. There is also an interesting feature, $COIN holders can bet $COIN in the community to get $CRED, $CRED coins will be able to get rare items in the game Neon District, which will be released in the near future. I'm very happy to see social tokens being used in games and very much hope that more of the same will be used. To learn more about $COIN, click here.

WhaleShark - $WHALE - Circulation - 10,000,000

$WHALE has clearly become the The most successful token to date, WhaleShark was first launched in May 2020, and then $WHALE quickly gained a dominant position in the social token space. It even reached a $30 million market. $WHALE has now expanded to the entire ecosystem and community, but it really started as a personal project, which makes it amazing. What makes $WHALE stand out is that its value is backed by a large number of NFTs kept in so-called "vaults". The total value of NFTS in the vault is estimated at $1.4M (figures as of September 2020 - audit conducted by Nonfungible.com) $WHALE is not only backed by NFTs but also used in a range of different functions in the community.

Event

Game

Poker

By mortgage $WHALE to DAO for governance Decision

Purchase special assets

Other

In particular, $WHALE created a DAO, which Make $WHALE a fully participant-led governance. The $WHALE community is growing, so stay tuned.

Social Token Ecosystem

I think social tokens will become the blockchain space An important part of it, not only because of the increase in the value of token assets, but also the rapid growth of the ecosystem is also exciting.

Forefront - "CoinGecko+" in social tokens

Forefront is the introduction of social tokens The go-to site for all things social token news, resources, presentations and (my favorite) a section dedicated to the social token market.

Rally - the main tool for creating social tokens

Rally is a platform, Twitch live Participants can create their own social tokens called "creator tokens" on the platform. These tokens serve various purposes, but primarily reward creators and members within Twitch streamers. What I love about Rally is that they focus on mainstream audiences by encouraging non-crypto-native Twitch streamers to release their own social tokens.

Seed Club - Social Token Incubator

Seed Club is for social token creators accelerator. As an exchange service, participants need to provide a small amount of tokens to Seed Club. Finally, the value of Seed Club's own tokens represents not only the value of the community, but also the value of a basket of social tokens supported by it.

Cooper Turley - Social Token Manager

This is a guy, Cooper Turley was Created a social token agency. There he manages and discovers best practices around creators and their social tokens. I think this is valuable because social tokens are new tokens and very difficult to manage. Having someone else help manage the skins in the game will be very valuable.

The social token ecosystem may be small, but it is growing rapidly and becoming a very important player . You can learn more after I dig into more social tokens and study its impact on the entire ecosystem, because social tokens are what I focus on.