004 Coins and Tokenizing 22 Sec

Social Token by MERCAFANTASY
Social tokens are crypto tokens created by individuals or communities. They fall into roughly two categories: personal tokens and community tokens.

Personal tokens are created by individuals and often used to exchange forms of labor. For example, a graphic designer will do one hour of work if paid 100 of their social tokens. In this example, the individual drives the token’s value by performing a service.

Community tokens are generally used for memberships or communities. For example, creators will launch a community token that users must acquire in order to gain access to private Telegram groups, Discord servers, newsletters, etc. They are also given as rewards and thus incentivize behavior within a community. For example, a community could launch a competition where participants compete to create the best infographic and then token holders vote on the winner.

For more info about personal vs community tokens, check out this great Twitter thread.

As you can clearly tell, social tokens can be used for almost unlimited purposes, and we are just in the early stages of this revolution. As the ecosystem continues to be built, social token use cases will expand dramatically.