A social token is a type of cryptocurrency used to monetize a brand.[1] They can be personal (or creator tokens) or community tokens.[2] The value of a social token revolves around the brand issuing it,[3] and are used by holders as a way to feel belonging to a certain group.[4]

Social token are usually used by creators, as a way to monetize their personal brand. They provide creators with a means to get paid by selling the tokens, with buyers receiving special perks, such as meet and greets with the creators.[5] The rewards associated with each token is determined by the creator.[6]

References

  1. ↑ Couvat, Eliot. "The next big thing in crypto is here, and it will revolutionize the future of work". Business Insider. Retrieved 3 March 2022.
  2. ↑ "Explained: What are social tokens and how are they different from NFTs?". CNBC TV18. 23 December 2021. Retrieved 1 March 2022.
  3. ↑ Woodbury, Rex (7 December 2021). "The next big thing in crypto is a little piece of you". Financial Review. Retrieved 1 March 2022.
  4. ↑ Ward, Aidan; Smith, John (2004). Trust and Mistrust. Wiley. ISBN 9780470868232. Retrieved 2 March 2022.
  5. ↑ Kaplan, David. "Why Some Brands Are Considering Social Tokens to Monetize Engagement". AdWeek. Retrieved 3 March 2022.
  6. ↑ Speechyls, Charles Russell (13 January 2022). "Social Tokens: What are the regulatory challenges in the UK?". Lexology. Retrieved 3 March 2022.


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