Social Tokens: The Next Big Crypto Thing?
A new hype is slowly emerging in the crypto scene: the so-called social tokens.
After the massive medial attention of NFTs, another potentially interesting investment case gains traction.
As the ICO boom in 2017, the hype around DeFi applications and the current buzz around NFTs shows a lot of potential in the still fresh crypto-scene.
Makes it obvious that crypto enthusiasts are trying to find “the next big thing”. And there is much to suggest that the next crypto trend has already been determined: social tokens.
What Are Social Tokens?
The term social token is not strictly defined and covers all tokens that can be assigned to individual persons or communities. In this case, it is not a company that issues tokens, but rather individual people or communities. For example, a musician can issue social tokens via smart contracts that are directly linked to his or her reputation or earnings.
On the collective level, however, social tokens can also be issued by communities.
