A social token is a type of cryptocurrency used to monetize a brand. [1] They can be personal (or creator tokens) or community tokens. [2] The value of a social token revolves around the brand issuing it, [3] and are used by holders as a way to feel belonging to a certain group. [4]
Social token are usually used by creators, as a way to monetize their personal brand. They provide creators with a means to get paid by selling the tokens, with buyers receiving special perks such as meet and greets with the creators. [5] The rewards associated with each token is determined by the creator. [6]
Animoca Brands Corporation Ltd. is a Hong Kong-based game software company and venture capital company co-founded in 2014 by Yat Siu and David Kim. The company initially focused on developing mobile games, then shifted to blockchain gaming and NFTs in 2018.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.
Patreon is a monetization platform operated by Patreon, Inc., that provides business tools for content creators to run a subscription service and sell digital products. It helps creators and artists earn a recurring income by providing rewards and perks to its subscribers. Patreon charges a commission of 9 to 12 percent of creators' monthly income, in addition to payment processing fees.
Brave is a free and open-source web browser developed by Brave Software, Inc. based on the Chromium web browser. Brave is a privacy-focused browser, which automatically blocks most advertisements and website trackers in its default settings. Users can turn on optional ads that reward them for their attention in the form of Basic Attention Tokens (BAT), which can be used as a cryptocurrency or to make payments to registered websites and content creators.
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.
Tether is a cryptocurrency stablecoin, launched by the company Tether Limited Inc. in 2014. As of July 2022, Tether Limited has minted the USDT stablecoin on ten protocols and blockchains.
CryptoKitties is a blockchain game developed by Canadian studio Dapper Labs. The game allows players to buy, sell, and create NFTs using on Ethereum. These NFTs represent virtual cats. The game's popularity in December 2017 congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly.
Video games that include elements that use blockchain technologies, including cryptocurrencies and non-fungible tokens (NFTs), allow players to buy, sell, or trade in-game items with other players. The game publisher takes a fee from each transaction as a form of monetization. A subset of these games are also known as play-to-earn games because they include systems that allow players to earn cryptocurrency through gameplay. Blockchain games have existed since 2017, gaining more widespread attention from the video game industry in 2021. Several AAA publishers have expressed intent to include this technology in the future. Players, developers, and game companies have criticized the use of blockchain technology in video games for being exploitative, environmentally unsustainable, and unnecessary.
OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume, serving over 50 million people globally. It was founded by Star Xu in 2017, who is also the CEO as of 2023. The President is Hong Fang and the CMO is Haider Rafique. OKX is owned by OK Group, which also owns the crypto exchange Okcoin.
A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain, and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create. NFTs typically contain references to digital files such as artworks, photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible.
Justin Sun is a Chinese-born Grenadian cryptocurrency entrepreneur and business executive. He is the founder of TRON, a blockchain DAO ecosystem. Sun once served as Permanent Representative of Grenada to the World Trade Organization (WTO) in Geneva.
Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain, mainly Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high interest rates but are subject to high risk. Coding errors and hacks have been common in DeFi.
CryptoPunks is a non-fungible token (NFT) collection on the Ethereum blockchain. The project was launched in June 2017 by the Larva Labs studio, a two-person team consisting of Canadian software developers Matt Hall and John Watkinson. The experimental project was inspired by the London punk scenes, the cyberpunk movement, and electronic music artists Daft Punk. The crypto art blockchain project was an inspiration for the ERC-721 standard for NFTs and the modern crypto art movement, which has since become a part of the cryptocurrency and decentralized finance ecosystems on multiple blockchains.
SafeMoon LLC is a cryptocurrency and blockchain company created in March 2021. The company also has a SafeMoon token (SFM) which trades on the BNB Chain blockchain. The token charges a 10% fee on transactions, with 5% redistributed to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The token reached its all time high market cap in April 2021 of $17b. As of December 2022, it has since dropped 98.7% in value to $223m.
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.
The Creator economy or also known as influencer economy, is a software-facilitated economy that allows content creators and influencers to earn revenue from their creations. According to Goldman Sachs Research, the ongoing growth of the creator economy will likely benefit companies that possess a combination of factors, including a large global user base, access to substantial capital, robust AI-powered recommendation engines, versatile monetization tools, comprehensive data analytics, and integrated e-commerce options. Examples of creator economy software platforms include YouTube, TikTok, Instagram, Facebook, Twitch, Spotify, Substack, OnlyFans and Patreon.
Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech". The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms. The concepts of Web3 were first represented in 2013.
Crypto.com is a cryptocurrency exchange company based in Singapore. As of June 2023, the company reportedly had 80 million customers and 4,000 employees. The exchange issues its own exchange token named Cronos (CRO).
Pak, formerly known as Murat Pak, is a digital artist, cryptocurrency investor, and programmer. The identity of Pak is unknown and some speculate that it may be a team. Pak is known for creating the curation platform Archillect, an internet bot which reshares media based on user interactions with content hosted on various social platforms and for launching a platform for burning NFTs to receive tokens of the cryptocurrency Ash.
YouTube Shorts is the short-form section of the American video-sharing website YouTube, hosting content much like YouTube's primary service but with a focus on vertical videos at a maximum length of 60 seconds. Videos with a square aspect ratio or videos that are uploaded before its launch are also accepted. As of January 2022, Shorts have collectively earned over 5 trillion views since the platform was made available to the public on July 13, 2021 which include video views that pre-date the YouTube Shorts feature.