Social Tokens and Creator-Centric Economies

I also don’t expect most people to know what a social token is, what an NFT is, or what the blockchain is. The best companies will abstract away crypto complexities to bring Web3 concepts to mainstream users.

This is a groundbreaking idea: tokenized fan communities reward the most devoted and earliest fans, rather than those with the most money. I’ll again use the example of Taylor Swift. For her Reputation tour, Swift pioneered a new model for concert tickets: only “verified” top fans could get a first pass at tickets, with the goal of ensuring ticket ... See more

Musicians are early adopters of tokens given the industry’s predatory economics. Some artists have innovated in new ways: the Grammy-winning artist RAC launched $RAC last fall, powered by Zora protocol. Fans can’t buy $RAC; they can only earn it. RAC distributed $RAC retroactively to fans based on their fandom—whether they’d been a Patreon supporte... See more