Under the thought of Social token and DAO, the next wave of blockchain trends is about to rise

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 and are usually used for labor exchange. For example, if you spend 100 tokens to ask a designer to help you work for an hour, this is the use of personal labor to drive the value of tokens.

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

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

The power of social platforms is immense. Many of our social behaviors are inseparable from social interactions. Social interaction not only connects individuals, but also connects media forms of different cultures. People spend an average of 2-3 hours a day on social platforms. Funny, novel and fresh content captures the attention of users. Through social platforms, people with the same preferences and opinions will gather together to form the Quyuan Body, and each Quyuan Body will form its own cultural content. These cultural contents will continue to attract new fans and form a strong community. Projects such as Rally and Bitclout also took a fancy to this huge group and made innovations.

After 2021, the era of DeFi and NFT will begin. Under the influence of the concept of open finance and liquid mining methods, SocialFi has also begun to transform from "Social + Finance" to "Social + DeFi". Any combination and cross innovation of "Social + DeFi+NFT+Gamefi".

On August 17, 2021, the Social DeFi Alliance was established. These include Mask Network Polygon, SushiSwap, QuickSwap, Gitcoin, and a number of DAPPs with strong social attributes developed based on Mask. The main goal of the alliance is to launch more social DeFi projects suitable for social network users to participate in and promote Web2. .0 Connect with Web3.0, guide more top Internet social platform users to access DeFi, promote the large-scale application of Web3.0, and so on.

Using the creator token, the creator can establish a supporter group, which is controlled by the supporter and supported by the creator. Although the creator’s reputation and community drive the basic value of the creator’s token, fans (or token holders) can also control, manage, and contribute to the creator’s economy.

The emergence of social token will definitely be questioned at the beginning, but blockchain and Web 3.0 provide great support for the creator economy. From the current point of view, innovation on social platforms is a new breakthrough point, but the future development depends on the strength of the project in this field and the development of the ecology.