The Currency of Community

So the larger question we might ask, then, is what advantage creators get from issuing social tokens as their fungible currency rather than not only NFTs but a currency like Ethereum. And there is a simple answer: these projects get to keep a number of the tokens for themselves, effectively issuing themselves free money out of thin air and watching... See more

status is relative and qualitative, rather than determined and quantitative, it may be possible to create communities that not only reward the greatest contributors but give everyone status in ways that can never be properly compared. In a division of labor, who is to say that the programmer is more valuable than the artist, or vice-versa, if we us... See more

So the simpler heuristic we might devise is this: fungible tokens are better for building economies while NFTs are better for building communities.