What are social tokens? What are some of the best social tokens to invest in?
Social tokens are one of the most important crypto trends of 2021. These tokens are likely to be a major catalyst in the mass adoption of cryptocurrency. The term social token typically refers to a token that is based around the reputation or status of a celebrity, influencer, brand, or other content creator.
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The social tokens help creators (and others) monetize themselves and their content beyond what would traditionally be available to them. The exact features, benefits, and purpose of social tokens will depend on the platform and smart contracts they are tied to.
Fans and speculators may be able to “invest” in their favorite creators by buying up large amounts of social tokens belonging to their favorite celebrity, for example, and the value of those tokens may increase with the celebrities popularity. Celebrities could use the tokens as a gatekeeping mechanism, providing premium access to content only for their largest token holders.
