Recognized personalities can now easily reach their followers. This is due to the staggering growth of crypto collectibles. Likewise, actors, actresses, directors, influencers, athletes and brand ambassadors of all genres bring their personalized collectibles to the market on different platforms. Fans can bid by participating in auctions. Are you an entrepreneur looking to dominate the creator economy? begin Development of social tokens
What is the meaning of social tokens?
Celebrities can launch their own collections on blockchain-based trading platforms. Users can bid on these collectibles by participating in auctions. For example, there are three types of social tokens: community tokens, creator-exclusive coins, and personality-centric collectibles.
Can social assets represent both virtual tokens and physical collectibles? Yes! So fans of VIPs and VVIPs can buy merchandise, unseen snaps, eye-catching videos and premium content.
Importantly, buyers can also support their favorite artists. Wonder how this works? You can buy digital tokens, organize a crowdfunding campaign, and encourage other users to contribute a certain amount.
Artists are then given complete freedom in pricing their content such as emojis, gifs, images, videos, products, etc. and consequently building a strong community.
Why is now the right time to start developing community tokens?
Multiple revenue streams – When entrepreneurs like you decide to start developing community tokens, various revenue streams are guaranteed. You can pocket creator auction fees, bid fees, artist embossing fees, gas fees, listing fees, and transaction processing fees.
Additionally, you can charge additional fees for conducting private sales, running celebrity and influencer marketing campaigns, debugging smart contracts, and organizing special auctions for ultra-rare collectibles.
Can game elements be incorporated into it? Yes! You can captivate fans of celebrities with riddles and quizzes. Therefore, buyers have to play such contests and contests, answer a certain set of questions and win exciting rewards. In the long term, followers can use their existing balance of digital tokens and unlock dazzling content.
Social token creators are also given ample flexibility. If they decide to organize a fundraiser, they can sell exclusive tokens to their fans and followers. This is a better alternative than selling goods. In addition, they can exclude intermediaries from the process. This is because their die-hard fans transfer funds directly using virtual tokens.
scalability – Quite often there is a war between fans comparing one celebrity to another. However, NFTs help celebrities stay ahead of the game. For example, they can offer their social tokens at a low price. Additionally, celebrities can list these digital assets on reputable crypto trading platforms and decentralized finance (DeFi) platforms.
Therefore, there will be high demand from investors. Importantly, the blockchain-based trading platforms will see an increase in trading volume as the number of buy and sell orders is high.
Celebrated stars can also come up with innovative measures. They can share their latest snaps and personal videos with their most loyal fans. In addition, a select number of high-token holders will gain exclusive access to premium content. Celebrities will see their wealth increase. This is because they can spend more tokens as their community grows stronger.
Fans can redeem these tokens after a certain duration, sell them for a high price and make a profit. Celebrities can also introduce special promo codes, discounts and offers for their loyal followers. They can do this while performing airdrops.
Hassle free networking – Undoubtedly, national and international celebrities have a large following. However, talented artists and rising stars can also gain more fame by using a white-label social token platform. They can run talk shows, meet-and-greet sessions for their fans, music concerts, and live performances by selling social tokens.
Also, they can build a large following through face-to-face interaction sessions with fans. Performing artists can choose their most loyal followers and send photos and videos. Users also receive a certain number of tokens.
They can unblock them and see the exclusive content right on their devices. Importantly, creators can come from different backgrounds and sections of society. They can be college students, disc jockeys (DJs), influencers for a specific brand, athletes, podcasters, designers, journalists, and research scientists.
How does the payment mechanism work? Fans receive a certain number of digital tokens. So, people who crave popularity have several options at their fingertips. You can write face-to-face interaction sessions, write newsletters and magazines, run events, and sell branded items too.
Most importantly, they can build a hyperlocal community. You can give points and tokens to fans. Later, their followers will trade these digital assets on crypto exchanges and decentralized finance (DeFi) platforms.
Finally, artists can closely monitor the number of daily and monthly active users (DAUs and MAUs), as well as the number of likes, comments, shares and views on their official channels and social media networks.
Over the long term, they will see an increase in engagement. There will also be positive word of mouth (WOM) as fans will share their content with their family members, friends and colleagues.
What social token trends can we expect in 2022?
Subscription Models – Celebrities can do this by following a tier-based structure. They can offer their exclusive content at a certain price. Celebrities can introduce different layers for displaying photos, branded products and videos. Therefore, fans have to pay a certain amount to purchase these basic, standard and premium packages.
fundraisers – Superstars can support social causes by running crowdfunding campaigns. Fans will transfer funds by linking their hardware and software wallets. Later, celebrities can collect all the money and send it to charities and non-governmental organizations (NGOs).
This can be related to activities such as climate change, education, water conservation, health care, support for people with disabilities and poverty alleviation.
Undoubtedly, the creator economy is changing rapidly now. Social tokens tick the right criteria in terms of community building, providing a virtual experience for fans and also helping celebrities generate passive income. Do you want to brighten up the world of Web 3.0? Build a white label social token platform soon.