Innovation projects can be divided into two types. One is to provide solutions for a given proposition, such as L2, or various AMMS. Depending on the development path of technology, the value of such projects can be judged. The other is to put forward a proposition. For example, bitcoin proposed whether we need to decentralize currency. It is difficult to make a judgment on this kind of project before verifying the market demand in the early stage, but it will be very hard to miss it. Therefore, China defi is most open to the concept of social token which is biased towards propositional verification.
Recently, social token has gradually gained some attention in overseas communities, but it is still in a very early stage. Forefront shows that there are 15 kinds of related types of tokens. At present, the overall market value is only 42 million US dollars, and the 24-hour trading volume is 270000 US dollars. We will continue to pay attention to whether there will be amazing agreements in projects like social token.
Social token is here!
Social token is a token to gain value from the growth of the shared community. It uses the most attractive aspects of Web3, focusing on the new narrative of viral marketing and ownership.
Over the past few months, I’ve doubled my social token.
The social token ecosystem consists of a few experimental friendly creators, such as Alex masmej(), (jamm) and Andrew Lee ($karma).
Although it is the first time that I put forward the social token, it is not a critical point for me and the creators of this topic.
Since then, we have witnessed many high-profile creators using their own social tokens to promote, including but not limited to:
- Coin Artist （$ COIN）
- Whaleshark Pro （$ WHALE）
- RAC （$ RAC）
- Evan Van Ness （$ EVAN）
- Spencer Dinwiddie
- Friends With Benefits （$ FWB）
- Pak （$ PAK）（SoonTM）
Despite the growing list, the key point here is that social tokens are no longer a trend for amateurs, but a booming industry that will continue to be.
Whether it’s governance, the superposition of composability and adoption driven development, or “sharing the strengths of your favorite creator or brand,” social tokens are the next logical cornerstone of bringing Web3 into mainstream vision.
Social token Market
Next, we’ll introduce the emerging publisher ecosystem, along with a set of distribution tools, and aggregators that come together.
With an incredible, highly intuitive set of protocol tools, it is rapidly laying the foundation for the vigorous development of social tokens. To be an early adopter of an active social community, its advantages will be comparable to that of last year’s largest difi competitor.
In Forefront.news You can view the token market value and transaction of social token in
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