Innovative projects are divided into two types. One is to provide solutions to established propositions, such as L2, or various AMMs. Value judgments can be made on such projects based on the development trajectory of technology. The other is to put forward propositions. For example, Bitcoin proposes whether we need a decentralized currency. It is difficult for such projects to make judgments before the market demand is verified in the early stage, but it will be very difficult to miss it. Therefore, ChinaDeFi has the most open attitude towards the concept of proposition verification like Social token.
Recently, Social Token has gradually gained some attention in overseas communities, but it is still in a very early stage. Forefront shows that there are 15 related types of tokens, and the current overall market value is only 42 million US dollars, with a 24-hour trading volume of 270,000 US dollars. We will continue to pay attention to whether there will be amazing agreements in such projects as Social Token.
Social token is here!
Social Token is a token that derives value from the growth of the shared community, using the most attractive aspects of web3, a new narrative around viral marketing and ownership.
In the past few months, I have invested twice as much money in social tokens.
The social token ecosystem consists of a few experiment-friendly creators, such as Alex Masmej (), (JAMM) and Andrew Lee ($KARMA).
Although these people were not the earliest creators of social tokens, they were the first to put forward afterthoughts for this, which marked the critical point of my curiosity about this topic.
Since then, we have witnessed many high-profile creators using their own social tokens for promotion, including but not limited to:
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Coin Artist （$ COIN）
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Whaleshark Pro （$ WHALE）
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RAC （$ RAC
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Evan Van Ness （$ EVAN）
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Spencer Dinwiddie (Caraxes)
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Friends With Benefits （$ FWB）
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Pak （$ PAK （（SoonTM）
Although the list continues to increase, the key point here is that social tokens are no longer a trend for hobbyists, but a booming industry that will continue to be maintained.
Whether it's the superposition of governance, composability and adoption-driven development, or "sharing the advantages of your favorite creator or brand," social tokens are the next logical cornerstone to bring web3 into the mainstream.
Social Token market situation
In the follow-up, we will introduce the emerging issuer ecosystem, a complete set of issuing tools, and aggregators that come together.
With an incredible and highly intuitive protocol tool set, it quickly laid the foundation for the vigorous development of social tokens. To become an early adopter of an active social community, its advantages will be on par with last year's largest DeFi competitor.
In Forefront.news, you can view the market value and transaction status of Social Token:
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