Social Token: The next big Hype?

Who has the feeling that to happen to always be late for a Hype for the the Social tokens could be Ecosystem a Chance. According to DeFi and NFT is on the horizon and now with the new “Social Money” the next stage of the Web 3.0. What is Social tokens and why they are now driving record.

The dynamics in the crypto sector is brutal. In just a few months the focus from one topic to the Next. The year 2020 in the field of Decentralized Finance applications (DeFi), it is now the Non-fungible Token sector (NFT), which dominates the year 2021. Already now the next Hype announces, however, is that Social Token.

Between I-AG and Facebook 2.0

The term Social tokens is quite spongy and includes all the tokens can be assigned to individual persons or Community networks. For example, you can authorize each man himself tokens via a Smart Contract on his Person, respectively, its services offered to monetize. That’s not like only blades of something obscene, but it’s basically. A graphic Designer can, for example, to give a unique Token, which embody in return for a claim, such as the completion of work hours.

Isolation of a single Person but can also be constructed in social networks, “Social Money”. An example of this would be that a celebrity or artist’s Social tokens which entitle the buyer to get access to a specific Community, such as an exclusive Telegram group. The fantasy of the embodiment, there are no limits. These can range from the tokenization of the simplest Social Media Accounts to try a new Facebook building.

Why now Hype?

The attempt to use the Blockchain technology to a fairer and better Social-Media-allow the Ecosystem, is not new. The Re-decentralization of our data belongs to the basic narrative of Blockchain protocols, which are intended to help us regain control of our data. Currently, there are to be verified, especially inter platforms such as Facebook, which collect our data, and monetize.

To change this, had already formed in 2016, the crypto Alternative Steemit (Steem). After a short initial Hype, the enthusiasm for the crypto Facebook is flattened Alternative, however, quickly. Just like for Non-fungible Token (NFT) or DeFi applications, it was still too early. Especially the Protocol were immature solutions is still much to be impractical and far away from any substantial Ecosystem. Just like in the case of DeFi and NFT happen much indicates that it is a Token also comes with Social to a second, and fierce calls that lies ahead of us.

Social Token: The logical consequence after NFT

The courses of Social tokens rise, both at the Protocol level as well as at the Individual level, as well as, many of the new projects in this Ecosystem, in particular, with the Hype NFT. To understand this better, we need to take a look at the value added in the NFT sector. NFT-producers, such as, for example, artists have an interest in not only sell digital items or rights of use. Rather, it may be interesting for you to monetize the interaction with your followers. A sought-after artist, or Influencer can use Social tokens quantify his public Reputation in terms of range and make money.

A practical example can be found in the artist Connie Digital with the website or collection danky.art for NFT-art and music. Connie Digital, Social tokens HUE using the Social-Money-Blockchain-infrastructure Roll published to offer the holder access to certain services. Who would not want to have to purchase its NFT-products and, where appropriate, to act, but also to his Community, can acquire HUE.

In the Social-Token-information service Forefront is disclosed to the editorial deadline for a market capitalization of $ 230 million for a personalized Token. The mark size shows that it is still pure “Gimmick”. The Token Social-Blockchain protocols are not included, of course. Only the three largest Social-Blockchain-crypto-currencies – Status, Steem and Hive – come together on a market capitalization of over a billion US dollars.

However, for the Bulk of the holder of the speculative character is in the foreground. As with other crypto-projects meant nothing more than the hope that the price of a token increases due to a rise in popularity. Thus, it can be assumed that the buyer of HUE are more interested in quick money, as the Creative Products of the artist Connie Digital.

BitClout: It is not without Elon Musk

What are the dynamics of this particular crypto-sector attracts, the project BitClout. The “Social-Crypto-Exchange” in the Look of Twitter has already well-known donor to win. The Silicon Valley heavyweights, Sequoia Capital and Andreessen Horowitz are joined as investors, as well as the crypto exchanges, Coinbase and Gemini. For a short period of time can be BitClout Token acquired, to acquire Creators Coins that belong to a specific Social Media Account. Also, without the consent of Elon Musk or Kim Kardashion BitClout used their Twitter Account as “Investment-based”. Those who hope that the Twitter Acccount of Elon Musk on BitClout gains in popularity, it can invest in their Social Coins.

The aggressive approach, so ungefragtes Mirror of over 15,000 Twitter Accounts, not, of course, remains without any public criticism. On the other hand, some buyers of the BitClout hope for tokens that could be traded in the future on the stock exchanges. Currently, there is no possibility, in other crypto-currencies to exchange. However, Bitcoin have found the equivalent of about 200 million US dollars in the way to BitClout. This follows from the corresponding Bitcoin Address forth.

Interdependence as an opportunity and a risk

As for the DeFi – and NFT-sector, also applies to Social Token that is dependent on the maximum from the crypto-market environment. Whether your rates are rising, it is more driven by market sentiment, as the hard-to-define fundamental value indicators.

The crypto should market in the near term is likely to collapse in a severe correction through life, no matter what the trigger, then the courses of Social-Token protocols, and people to the South.

Irrespective of that, the dynamics of speaking in the sector, but that Social tokens are the next big Hype. You can build almost consecutively NFT and expand their value-added. So if you want to be at the beginning of a hype, then you should throw under certain circumstances, an eye on the Social-Money projects. With views of the innovation cycle, we should stand here at the very beginning. Consequently, a bubble is expected of us, with all the opportunities and risks, before standing up.