Social tokens are also known as social money, creator coins, or community tokens. This is a form of cryptocurrency based on digital ownership. Used by brands, creators, communities and specific individuals to put monetary value on their work. Unlike mainstream media that manages the content and revenue from these people, social tokens remove this barrier by introducing security and decentralization through blockchain technology.
Social tokens can be based on individuals or communities. As you know, NFTs are, in a sense, social tokens. These can become even more important with the inclusion of Web3.0. They can be used to incentive community fans and reward creators.
Most social tokens are on the Ethereum blockchain. Companies such as Seed Club, Fyooz, Rally and BitClout are investing in social token projects. As with all cryptocurrencies, there are regulatory risks. But it is believed to be the future of branding and marketing.
Your favorite artist, athlete, or influencer may not yet have a social token, they will catch up soon. But while you wait for them, consider the following social tokens.
SWAGG is a social token for the SWAGG network. You can use it to get your work, participate in Forefront, enjoy SWAGG drops, get SWAGG rewards, and participate in community-led projects. Holders are granted access to the private SWAGG Discord group. You can also suggest and vote on the plans and actions of the SWAGG community.
With SWAGG, the owner needs access to the SWAGG house. Created to promote collaboration, credibility and creativity among community members. Owners can redeem works created in the community. You can use SWAGG to provide liquidity to the Uniswap exchange.
You must have at least 400 SWAGG in your Metamask wallet to participate in the SWAGG community. You will need 10,000 SWAGGs to participate in future community governance. It was cast in rolls and had a total supply of 10 million tokens with a vesting period of 1299 days. One million is reserved for community grants and rewards, and two million are retained for the community issuance.
Currently, there are over 7 million distributions. As of today, it costs $0.043. ATH reached $0.26 in September 2020. Market capitalization is $330,843.
This is a social token created by BAE on the Ethereum blockchain. BAE was founded in 2018 as one of CryptoArt’s first platforms. This is an open platform for avant-garde, underground, and outside artists to stage their artwork on the Ethereum blockchain.
BAEPAY is used to reward community members and as a governance token. Can be used for payments on the platform. It rewards both liquidity providers and artists to create a stable economy.
Available on the Uniswap exchange, it is currently $0.05. It peaked at $1.65 in March 2021. With a total supply of 10 million, more than 5 million are currently in circulation. Market capitalization is $256,616.
RLY is a social token of the rally network launched on the Ethereum blockchain. Rally Network allows creators, brands and communities to launch social currencies. This allows fans to take advantage of their benefits. Rally is an Ethereum sidechain for creators to build a digital economy.
It supports easy integration with other platforms such as fan authentication and blockchain exploration. It’s open, compatible, and secure. This allows authors to enable transactions, control access, and create more economical solutions.
No transaction fees or liquidity are required to create a rally. Environmentally friendly and supports payment cards. Fans need RLY to buy their favorite tokens. It’s the number one social token.
It is listed on Huobi Global, KuCoin, Coinbase Exchange, MEXC Global, Gate.io, and Uniswap Exchange. Of the total supply of 15 billion, 2.3 billion are currently in circulation. As of today, it is worth $0.22 and has a market capitalization of $469 million. In March 2021, ATH reached $1.20.
4. Benefit Pro (FWB) friends
Pro was added in March 2021 after the exploit of Role Social Tokens. The community is made up of individuals such as Web 3.0 artists, innovators, and thinkers who are interested in a decentralized future. The principles that guide the community include shared identities, responsibilities, inclusions, diversity, and peace of mind. You need FWB to access the community.
FWB is the most expensive social token. As of today, the price of one FWB is $46.40. Market capitalization is $27.7 million. Currently, more than half (1 million) of the total supply is in circulation.
It peaked at $196.19 in August 2021. It is listed on the Uniswap Exchange and BitGet.
This is a social coin for Hackatao Art Collective and its community. You can access the MORK Cafe from Discord. It was launched on the Ethereum blockchain in August 2020. Listed on the Uniswap exchange.
With a total supply of 10 million, more than 8 million tokens are currently in circulation. It peaked at $14.79 in November 2021 and is now trading at $2.41. Market capitalization is $19.3 million.
WHALE was launched in May 2020 by NFT collector Whale Shark. This is the first token pegged to the entity Vault and managed by DAO. Vault is a publicly audited vault made up of a myriad of whale shark NFT collections. WHALE was developed using the ERC-20 standard.
The maximum supply is 10 million. 10% will be assigned to the founder and his team, 10% will be sold personally, 42.6% will be distributed to the community and 37.4% will be kept in reserve at the WHALE Foundation.
Holders have many benefits. These include renting NFTs from The Vault, purchasing exclusive NFTs, and purchasing selected NFTs from Vault. They also participate in community governance and DAO projects. Holders can use WHALE to support liquidity mining of rewards.
Holders can also enjoy NFT airdrops, game-providing channels, WHALE airdrops, networking opportunities, and exclusive one-on-one access to Whale Shark. Unlike most social tokens, it has many use cases, is fixed to digital assets, and is managed by DAO.
WHALE is listed in Uniswap Exchange, Huobi Global, KuCoin, Hotbit, and Hoo. It peaked at $52.37 in March 2021 and is now worth $7.84. Market capitalization is $57.2 million. Currently, 7.3 million people are in circulation.
In addition to the above tokens, you can check GCR, GENRE, YUP, ALEX. Social tokens are volatile because they are cryptocurrencies. Buy tokens only with the money you can throw away, as they are dangerous investments. Do your research and always deal wisely.