The arrival of cryptocurrency has provided equal opportunities to all digital creators in the digital space. It had provided many benefits and innovative inventions for the creators to monetize their product, whereas, before the introduction of cryptocurrency, it was very difficult for digital creators to gain attention and monetize their creation.
The cryptocurrency domain has paved the way for the new arrival of an innovative system called the social tokens. Social tokens are fungible tokens that are created as a brand or community-centred tokens.
Non-fungible tokens and social tokens are two sides of the same coin, and their operation in the token domain is almost similar, with the exception that NFTs are non-fungible and social tokens are fungible. At Blockchain App Factory, we have extensive experience in developing non-fungible tokens, and similar to that, we are updated with the current topic of the token domain, and we possess the tools to launch social tokens based on our customer’s specifications.
What Is A Social Token?
Social Tokens are a type of fungible token that is built on a blockchain platform and exists in a decentralized ecosystem. It is a community-centred token. It allows creators, brands, or a community to monetize their work and develop a direct relationship with the creator and the collectors. Social tokens can be classified into two types, such as personal tokens and community tokens.
Personal tokens are operated by individuals in the digital field. Digital creators can develop their own customized tokens and distribute them to their collectors. This way of developing personalized tokens allows the creators to avail themselves of the complete benefits of digital currencies. For example, digital artists can distribute these newly developed tokens to their fans or collectors as they purchase their digital art. This type of trading allows the fans to own a small portion of their artwork in the future.
Community tokens are developed by communities, organizations, or brands. The community can develop the digital token according to their own specifications. It is a way of initiating direct connections between the organization and the collectors. Receiving a community token allows the user to have access to a small portion of their digital products. For example, if a shoe brand provides tokens to their customers for purchasing the product, and the customer will gain membership access to a small portion of their creation, such as suggesting a new design or colour for the shoes.
Key Functionalities Of Social Tokens
- It establishes an income share agreement between the creators and the collector.
- It grants the creator the ability to have control over the community.
- Social tokens are supported by non-fungible tokens and digital assets.
- The distribution volume of the tokens represents the creator’s quality of work.
- It allows the collectors access to the community via the tokens.
The Social Token Benefits We Provide In BAF
- Our social token distribution increases popularity for the creator.
- Our social tokens based on our customer’s specifications help in the reduction of intermediates.
- It eradicates transaction charges and third-party commissions.
- Our social token encourages community participation.
- It provides a bridge between the community and the collectors.
- Our social token offers high-level transparency and security
Future Of Social Tokens
Social tokens have paved the way for digital creators to monetize their content. Individuals and organizations have taken notice of this new type of fungible token. Before the arrival of social tokens, the digital creators had to promote their work on social media and content sharing platforms, and these platforms charged them a 10-20% of commission from the total profit, which was disliked by the majority of the digital content creators. Then, the cryptocurrency world introduced social tokens, which eliminated the commission fees and provided full control over the digital content.
In the near future, all applications and platforms are becoming digitized, all the work and processes are done digitally. From purchasing real-life products digitally to purchasing digital art, everything is striving towards the concept of digitalization. Thus, it has made the creation of social tokens successful among digital creators and organizations. NFTs and social token launch management domains will gain high-level popularity and support from the creators as well as the customers. The social token will emerge as a revolutionizing factor in the future for the communities and organizations that are focused on attracting customers and fans.
Why Hire Blockchain App Factory For Launching Social Tokens?
Blockchain App Factory is a well-equipped token development company that has been providing solutions to token-related problems and providing services to the development of digital tokens. Our blockchain enthusiasts have developed many digital tokens on many different blockchain platforms, such as EOS, TRON, Ethereum, etc. We are well-versed in the current token development protocols, and we are dedicated to launching your own customized social token. We have extensive experience in developing non-fungible tokens at different token standards, which provides a great booster for the customer to hire us since we hold global expertise in the field of fungible and non-fungible tokens. We provide top-notch NFT and social token launch management services to our customers during the launch of their crypto project. Our post-deployment services are one of the best in the crypto space. We deliver highly sophisticated crypto projects to our customers and support them with 24×7 around-the-clock post-marketing services to submit their crypto project as one of the best in the digital ecosystem. To avail of our NFT and social token launch management services, contact us soon!