Individuals can also issue social tokens? How will NFT and DeFi empower it?

Social tokens have shown signs of rapid development in recent months. The overall market value of social tokens has exceeded 200 million US dollars, and it was still almost negligible in May this year.

(The rapid development of the overall market value of social tokens, SOURCE: ROLL)

What are social tokens?

Social tokens are tokens issued by individuals. Blue Fox Notes has talked about "The Era of Personal Encrypted Bonds: NBA Players, Ethereum and Personal Bonds" before. This is part of social tokens, and personal value tokens culture, which can include jobs, assets, etc. Social tokens are often issued by individuals with certain abilities or influence, such as artists, athletes, experts, etc., and a certain number of people participate in the community. Of course, not only celebrities can issue social tokens, but various KOLs or experts can also issue social tokens. For simple understanding, social tokens can also be regarded as community tokens issued by individuals.

As of the writing of Blue Fox Notes, among the social tokens, WHALE has the highest market value, reaching more than 43 million US dollars, and its diluted market value exceeds 100 million US dollars. This is by far the highest achieved by a social token, even higher than the market cap of most project tokens. In today's more than 5,900 token markets, it can rank around 180. For social tokens issued as individuals, it has reached a relatively high level.

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In addition to WHALE, there are CHERRY and COIN with a market value of more than 1 million US dollars. In addition, the market value of KERMAN and SWAGG has dropped to 610,000 US dollars and 380,000 US dollars respectively.

Social tokens rely on individuals and the communities they lead to give them value. The value of tokens like WHALE is supported by its NFT library. There are a series of NFT collectibles in WHALE's NFT library. With the recent bullish sentiment in the NFT market, the value of NFT in WHALE's NFT library has risen to more than 1.4 million US dollars.

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(The value growth of WHALE's NFT library portfolio, SOURCE: NONFUNGIBLE)

WHALE tokens are issued by WhaleShark, which is an NFT collector. WHALE tokens can be used to purchase NFTs on the market and gain the right to participate in exclusive Discord groups with rewards.

However, even if these NFTs still have a lot of room for growth, the current valuation is not low, with a circulation market value of more than 40 million US dollars supported by assets of more than 1.4 million US dollars, and a diluted market value of 100 million US dollars. For this reason, WHALE also needs to expand its possibilities from all levels to support the fundamentals of its value.

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At present, WHALE's NFT library has not yet had a direct connection with WHALE tokens, but it plans to establish a direct connection between NFT and WHALE tokens through the DAO governance form. The NFT in the NFT library can be used for lending, and thus obtain rental fees, and can also cooperate with some digital artists to produce some digital art collections that can only be purchased with WHALE tokens. WHALE attempts to expand its value capture capabilities through its owned NFT and partnership programs.

In addition, in order to guide liquidity, WHALE also provides WHALE token incentives for users who provide liquidity for WHALE/ETH on Uniswap.

From the perspective of WHALE's social token model, it is essentially more like an NFT investment fund initiated by individuals and participated by the community. With the launch of DAO governance in the later stage, WHALE can also capture value through other methods such as cooperation, especially with the development of the NFT field, it also has more possibilities. It can make full use of the power of the community to capture more value in the NFT field and the DeFi field.

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Let’s take a look at COIN, which is also a social token with a market value of around $1.7 million. It was released by Marguerite deCourcelle, the CEO of Blockade Games, and COIN is her personal issued token. If users want to join the Coin’s E-Den (Blockades signature game Neon District) organization and have private dicord chat rights, they must hold a certain amount of COIN tokens. COIN will also launch a liquidity mining plan, allowing users to earn more COIN and CRED (the exclusive privileged token of Coin Artist NFT). The Coin Artist ecosystem will introduce NFT mining, Neon District game character mining, etc. In addition, Neon District users can also mine unique NFTs by staking COIN tokens.

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From the perspective of the COIN model, it integrates social tokens, NFT, mining and other elements, and uses all the current main gameplays in the encrypted world one by one. The development of its value is closely related to the development of game NFT.

KERMAN is also an earlier personal social token. It is Kerman Kohli's social token. Kerman is an engineer, a product expert, and has research on the crypto economy. KERMAN tokens can be used to obtain services such as retweeting, consulting, and a one-year personal weekly newsletter. This model relies more on the ability of individuals to support the value of its tokens, and its value comes from the degree of demand for services.

(Kerman issues social tokens for personal services, SOURCE: ROLL)

From the current point of view, social tokens have achieved initial success. WHALE, CHERRY and COIN all have a certain market value. More and more individuals will participate in social tokens, especially social tokens backed by actual asset values or actual service needs will be welcomed to a certain extent.

From the current point of view, if it is only to issue personal tokens, it may not be easy to win the favor of investors based on personal time or work, because it is difficult to determine its value support. However, with the in-depth development of NFT and DeFi, this situation may change.

Currently well-developed social tokens, such as WHALE, CHERRY, and COIN, are all combined with NFT and DeFi, which makes social tokens themselves have underlying value support. If WHALE's NFT library is becoming more and more valuable, then this means that WHALE will also become more and more valuable, and vice versa. COIN tokens can be associated with the value of NFT in the game. It's also very new practice, but at least it can be worthwhile to back up the possibilities.

According to this development trend, some game KOLs can also issue their own social tokens, which can use the NFT in their games to support the value of their social tokens; there are also investment experts who issue social tokens for their investment portfolios. Tokens, and then its investment portfolio will also be governed and controlled by DAO; digital artists and athletes can also issue social tokens. For example, there are some popular digital artists who can create a large number of digital art NFTs. The social tokens they issue can be supported by these NFTs. Only their social tokens can be used to purchase their NFT collections.

However, whether it is an investor or an artist, it is difficult to grow into a token with a huge market value in view of the fact that its ability to capture value has certain expansion restrictions when issuing social tokens. It is not easy for a project like WHALE to reach a valuation of 40 million US dollars and a diluted market value of 100 million US dollars.

If social tokens want to become tokens with a market capitalization of hundreds of millions or billions of dollars, it is necessary to expand the ability to capture the value of tokens, such as through the development of DeFi and NFT. This can be seen from the way WAHLE and COIN combine social tokens with NFT and DeFi. Of course, if the regulatory requirements can be met, and if celebrities can issue social tokens, tokens with a valuation of more than $1 billion may also be born.

As a new field of encryption, social tokens may continue to develop and make breakthroughs. In the process of development, it will be deeply integrated with NFT and DeFi to give it real value.

It may become a crypto phenomenon in the future as more individuals issue socialized personal tokens.

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