Original link: https://andrewsteinwold.substack.com/p/-exploring-the-social-token-revolution

Author: Andrew Steinwold

Word Count: 1571

Translator: ethan

Proofreading: Shirley, Gangnam Seido

Translation agency: DAOSquare

Social tokens are a new class of tokens that are getting more and more attention: some individuals and communities have started to issue their own social tokens, and I want to understand this growing ecosystem as soon as possible and Explore some basics.

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What are social tokens?

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

Personal tokens are created by individuals, usually in exchange for labor. For example, paying 100 tokens to ask a designer to work for you for an hour is using personal labor to drive the value of the token.

Community tokens are typically used for membership and community. For example, you need community tokens issued by community creators to enter private telegram groups, access special services, news, and more. 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 information on personal tokens and community tokens, please click here to follow twitter.

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

social token project

Note: I am a holder of all of the following social tokens.

As mentioned, 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 on the market.

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

ALEX is attractive, attracts a lot of attention, and attracts a lot of people to hold it. . Initially Alex Masmej raised $20,000 through an initial offering to support him in San Francisco to start his own blockchain business. ALEX earns meager income from sharing agreements and personal IPOs. The revenue sharing contract is very interesting: 15% of the total revenue 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 on $ALEX please visit the medium blog .

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

SWAGG is a multi-purpose community encrypted token. His 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, and his benefits include:

• Allow access to the content of the SWAGG network
• Allow moderation of content published by SWAGG
• Receive rewards for community independent projects
• Get rewarded for sharing content
• Exchange tokens in the community
• Suggest and vote on actions for the SWAGG community

In the near future, holders of at least 10,000 tokens will gain voting rights in community governance. 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 used to access an electronic journal called "[ JammSession ]( https://outpost−protocol.com/jamm )", by BrianFlynn . (There is very good information in it, I recommend everyone to subscribe to him). To browse his e-journal you need to spend 1000 JAMM tokens. This is some news with a unique point of view, and if I buy a journal to read by credit card, I have little incentive to tell my friends. But if I buy through Jamm Session, I'd be more than happy to share it with a friend. Because the more people who buy $JAMM, the more I can earn myself.

The newsletter and incentive mechanism using social tokens are perfectly connected. Most e-journals are monetized in a linear way, such as a user can subscribe for $5 a month. But based on JAMM , news providers can make money exponentially. Users spend 1000 JAMMs, buy news, and are more interested in introducing this e-journal to their friends, so more users will sign up and make $JAMM in greater demand. Such a mechanism has led to the collective prosperity of the Jamm Session community. Brian, his creator, has received a lot of investment and social support, and has achieved good results in all aspects.

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

What I find interesting about COIN is that it is always adding new features to it. Each release of COIN is also very interesting because it is an "inclusive and experimental gaming community network".

Holders of COIN now have access to a community called " E − Den ", which has direct and exclusive investment in COIN. There are fun things to do in the community like designing cryptographic puzzles. There is also an interesting feature, COIN holders can stake 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 soon. I'm very excited to see social tokens used in gaming, and I really hope that more similar areas will use social tokens. To learn more about $COIN, click here .

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

WHALE is by far the most successful token to date, WhaleShark was first released in May 2020, and WHALE quickly gained dominance in the social token space. It even hit the $30 million market. WHALE has now expanded to the entire ecosystem and community, but it actually started as a personal project, which makes people have to be amazed. What makes WHALE stand out is that its value is backed by a large number of NFTs that are kept in so-called "Vaults." The total value of NFTS in the vault is estimated at $1.4 million (figures as of September 2020 - audit conducted by Nonfungible.com) $WHALE is not only backed by NFTs, but also used for a range of different functions in the community.

• event
• game
• playing cards
• Governance decisions by staking $WHALE to the DAO
• buy special assets
• other

In particular, WHALE creates a DAO , which makes WHALE fully participant-led governance. The $WHALE community is continuing to grow and we'll have to wait and see.

Social Token Ecosystem

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

Forefron t - "CoinGecko+" in social tokens

Forefront is the go-to site for social tokens, where you can browse all social token news, resources, introductions, and (my favorite) a section dedicated to the social token market.

Rally - The main tool for creating social tokens

Rally is a platform where Twitch streamers can create their own social tokens, called "creator tokens." These tokens serve various purposes, but primarily reward creators and members in 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 an accelerator for social token creators. As an exchange service, participants need to provide Seed Club with a small amount of tokens. Finally, the value of Seed Club's own tokens represents both the value of the community and the value of the basket of social tokens supported by it.

Cooper Turley - Social Token Manager

This is a guy, Cooper Turley who once created a social token agency. There he curates and discovers best practices around creators and their social tokens. I think this is valuable because social tokens are new tokens and are 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 rapidly growing and becoming a very important player. You can learn more after I dive into more social tokens and study the impact it has on the entire ecosystem, because social tokens are what I focus on.