Non-crypto natives launch social tokens to engage with community and fans.
Social tokens could be the next big trend in crypto this year, but regulatory concerns and specific use cases remain unclear.
The COVID-19 pandemic, along with other recent events, have revealed the need for a fully digital economy, giving rise to Metaverse ecosystems, Web3 platforms and the adoption of digital currencies.
For example, the Ukrainian government recently reached out to the crypto community on Twitter asking for donations in Bitcoin (BTC), Ether (ETH) and Tether (USDT). Nonfungible tokens, or NFTs, have also gained mainstream adoption as artists and creators across the globe have discovered new forms of monetization with these models. While innovative, these use cases also demonstrate the notion that blockchain-based concepts that emerged early on often take years to resonate with mainstream society.
Social tokens in 2022
This also appears to be the case with social tokens o tokens that are issued by individuals and communities to create engagement. Trong khi mã thông báo xã hội được dự đoán là xu hướng lớn tiếp theo trong lĩnh vực tiền điện tử vào năm 2020, họ dường như đang cất cánh trong năm nay do sự quan tâm ngày càng tăng từ người bản địa non-crypto.
Jan Baeriswyl, chuyên gia thiết kế mã thông báo tại ngoại lệ Ventures - một công ty vốn mạo hiểm hỗ trợ sự phát triển của các công nghệ mới - nói với Cointelegraph rằng các mã thông báo xã hội có thể làm nổi, mã thông báo ERC-20 có thể được sử dụng cho các trường hợp khác ngoài mục đích tài chính. “For example, social tokens can be used to gain access to specific communities, like on Discord. By being less financially focused, social tokens are more accessible to the mainstream, which is why we are seeing increased interest,” Baeriswyl explained. He added that social tokens can take different forms for various purposes, noting that these digital tokens can be used by creators to engage with fans, or by communities to increase awareness for certain causes.
In addition, social tokens are also being leveraged to help creators and communities gain access to Web3 platforms that offer decentralized models and incentives for community participation. Andrew Berkowitz, Giám đốc điều hành tại Socialstack - một nền tảng phát hành mã thông báo xã hội được xây dựng trên Ethereum, Polygon và Celo - nói với Cointelegraph mà xã hội đã phục vụ cho các cộng đồng bản địa phi Crypto để giúp phát triển các mã thông báo xã hội cho phép phát triển hệ sinh thái Web3. “At Socialstack, we realize that 99% of the world are not crypto-natives. Chúng tôi tin rằng các cá nhân cần một nền tảng nơi họ có thể chỉ cần sử dụng thông tin đăng nhập email để tận dụng các khả năng của Web3, "ông nói.
Để đưa điều này vào viễn cảnh, Berkowitz giải thích rằng Socialstack gần đây đã giúp dự án Zero - không Tổ chức lợi nhuận tập trung vào việc bảo vệ đại dương khỏi biến đổi khí hậu - khởi động một mã thông báo xã hội để tạo ra một hệ sinh thái của giá trị có lợi cho cả hành tinh và người tham gia. Michele Clarke, founder and CEO of Project Zero, told Cointelegraph that their social token, PZero, enables community members to earn rewards by taking specific actions. Non-crypto natives launch social tokens to engage with community and fans.
Social tokens could be the next big trend in crypto this year, but regulatory concerns and specific use cases remain unclear.
The COVID-19 pandemic, along with other recent events, have revealed the need for a fully digital economy, giving rise to Metaverse ecosystems, Web3 platforms and the adoption of digital currencies.
For example, the Ukrainian government recently reached out to the crypto community on Twitter asking for donations in Bitcoin (BTC), Ether (ETH) and Tether (USDT). Nonfungible tokens, or NFTs, have also gained mainstream adoption as artists and creators across the globe have discovered new forms of monetization with these models. While innovative, these use cases also demonstrate the notion that blockchain-based concepts that emerged early on often take years to resonate with mainstream society.
Social tokens in 2022
This also appears to be the case with social tokens o tokens that are issued by individuals and communities to create engagement. While social tokens were predicted to be the next big trend within the crypto sector in 2020, they seem to be taking off this year due to increased interest from non-crypto natives.
Jan Baeriswyl, token design specialist at Outlier Ventures — a venture capital firm supporting the development of new technologies — told Cointelegraph that social tokens are fungible, ERC-20 tokens that can be used for instances other than financial purposes. “For example, social tokens can be used to gain access to specific communities, like on Discord. By being less financially focused, social tokens are more accessible to the mainstream, which is why we are seeing increased interest,” Baeriswyl explained. He added that social tokens can take different forms for various purposes, noting that these digital tokens can be used by creators to engage with fans, or by communities to increase awareness for certain causes.
In addition, social tokens are also being leveraged to help creators and communities gain access to Web3 platforms that offer decentralized models and incentives for community participation. Andrew Berkowitz, chief executive officer at Socialstack — a social token issuance platform built on the Ethereum, Polygon and Celo — told Cointelegraph that Socialstack caters to non-crypto native communities to help issue social tokens that allow for the development of a Web3 ecosystem. “At Socialstack, we realize that 99% of the world are not crypto-natives. We believe that individuals need a platform where they can simply use an email login to take advantage of Web3 capabilities,” he said.
To put this in perspective, Berkowitz explained that Socialstack recently helped Project Zero — a non-profit organization focused on protecting the ocean from climate change — launch a social token to create an “ecosystem of value that benefits both the planet and participants.” Michele Clarke, founder and CEO of Project Zero, told Cointelegraph that their social token, PZero, enables community members to earn rewards by taking specific actions.
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