Crypto Tokens

In a recent thread on crypto, I argued that crypto and tokens enabled the formation of businesses that heretofore could not be created. Some responded that cash could be used in place of tokens, and therefore the ‘innovation’ of crypto was not meaningful. I beg to differ.

here are some posts about online communities that I find very good for one reason or another (Not a full list, no particular order, mostly from the running list we keep at @capiche. screenshots in this thread are their quotes, not my notes) Please add to this list! 👇thread👇

Tokens give communities superpowers once reserved for countries or corporations. 💸 Generate and distribute value 🏦 Manage a shared "bank" account ⚖️ Global governance and decision making The hard work is figuring out how to use these powers for good. 🌱

Soulbound Tokens have create a lot of discussion on Twitter. I am aggregating all the posts in this thread. Please comment any posts that feel important to you.

Staking is a common element in crypto token designs. But staking in the classic sense originated with securing Proof-of-Stake blockchains, not embedding token features in apps that run on top of them. So what’s changed, and what new design opportunities could this open?

Hate to be a party poopoooor but... So much 101 startup knowledge seems to be forgotten in the race to just launch tokens in crypto these days. I think the space has *not* become useful enough that decentralized governance should be a priority. Lil thread 👇

0/ Token incentives are a popular way to distribute ownership to people that provide a useful service But as we've seen, some of these distributions are easy to game and are less effective in hitting their key objectives Here's my framework for thinking about this 👇

Are tokens are the new website? Like @cdixon I believe so, and here’s my take on why. 🧵👇

Tokens that get their value from "governance rights" are mostly bullshit. In order to assess whether the governance rights are actually valuable, look at 3 related areas: - Scope - Scale - Selfish Benefits Quick 🧵

Amazon stock (or most growth stocks) is no different from "useless governance token". Amazon doesn't give dividend. Being a share "owner" is in name only, w/ no benefit except hoping other people'll bet on it too so price go up. All risk asset market valuation is mostly a meme