Social tokens can be used to represent a wide range of access rights, from a person’s time, access to an exclusive group, or partial ownership of a community treasury. Their use cases can also evolve, with more features added over time.
False beliefs can be useful in a social sense even if they are not useful in a factual sense. For lack of a better phrase, we might call this approach “factually false, but socially accurate.” When we have to choose between the two, people often select friends and family over facts.
Founders typically experience the market problem themselves, hence why they come up with a solution. Therefore, if founders can find people like themselves from their own circles, that’s a good starting point. From there, let Metcalfe’s Law of networking effects take it forward. But this can be slow. My favourite way is to combine that initial... See more
Being active and engaged does not mean that the body must move. Active engagement takes place in our brains, not our feet. The brain learns efficiently only if it is attentive, focused, and active in generating mental models.
Since a social token can be used to represent all sorts of things, there are legal questions that each creator must consider to ensure their token is compliant with regulatory requirements.