Acclaimed personalities can now easily contact their followers. This is due to the breathtaking growth of crypto collectibles. Similarly, actors, actresses, directors, influencers, athletes, brand ambassadors across genres are launching their personalized collectibles on different platforms. Fans can bid for them by participating in auctions. Are you an entrepreneur wishing to dominate the creative economy? To start social token developmentnow.
What is the meaning of social tokens?
Celebrities can launch their own collections on blockchain-based trading platforms. Users can bid on these collectibles by participating in auctions. For example, social tokens are of 3 types: community tokens, creator-exclusive coins, and personality-driven collectibles.
Can social assets represent both virtual tokens and physical collectibles? Yes! Thus, VIP and VVIP fans can purchase merchandise, never-before-seen shots, eye-catching videos, and premium content.
Above all, buyers can also support their favorite artists. Wondering how it works? They can buy digital tokens, run a crowdfunding campaign, and encourage other users to contribute a certain amount.
Thereafter, artists get complete freedom in pricing their content like emojis, GIFs, images, videos, products, etc. In the long term, creators benefit from advantages such as the absence of intermediaries, 24-hour contact with their fans, numerous opportunities for monetization, and the consistent building of a strong community.
Why is now a good time to start developing community tokens?
Multiple sources of income – When entrepreneurs like you decide to start developing Community Tokens, various revenue streams are guaranteed. You can pocket Creator Auction Fees, Auction Fees, Artist Minting Fees, Gas Fees, Listing Fees, and Transaction Processing Fees.
Additionally, you can charge additional fees for conducting private sales, implementing celebrity and influencer marketing campaigns, removing bugs from smart contracts, and running special auctions for premium items. ultra-rare collection.
Can game elements be introduced? Yes! You can captivate celebrity fans with puzzles and quizzes. So, shoppers have to play such contests and competitions, answer a certain set of questions and win exciting rewards. In the long term, subscribers can use their existing balance of digital tokens and unlock dazzling content.
Social token creators will also enjoy great flexibility. When they decide to organize a fundraising campaign, they can sell exclusive tokens to their fans and subscribers. It is a better alternative than selling goods. Additionally, they can eliminate middlemen from the process. Indeed, their hardcore fans will directly transfer funds using virtual tokens.
Scalability – Very often there is a war between fans when comparing one celebrity to another. However, NFTs help famous personalities stay ahead. For example, they can price their social tokens low. Additionally, celebrities can list these digital assets on well-known crypto trading platforms and decentralized finance (DeFi) platforms.
Thus, there will be a strong demand from investors. It is important to note that blockchain-powered trading platforms will experience an increase in trading volume as the number of buy and sell orders is high.
Acclaimed stars can also come out with innovative measures. They can share their latest snaps and personal videos with their most loyal fans. Additionally, a select number of people with many tokens will get exclusive access to premium content. Celebrities will see an increase in their wealth. This is because they can issue more tokens as their community grows stronger.
Fans can trade these tokens after a specific duration, sell them at a high price and make a profit. Celebrities can also introduce special promo codes, discounts and offers for their loyal followers. They can do this while performing parachute drops.
Hassle-free networking – Undoubtedly, domestic and international celebrities have a large fan base. However, talented artists and rising stars can also get more fame by using a white label social token platform. They can organize talk shows, meet-and-greet sessions for their fans, music concerts, and live performances by selling social tokens.
On top of that, they can build a large following by having personal interaction sessions with fans. Performers can select their most loyal followers and send photos and videos. Users will also receive a number of tokens.
They can unlock them and see the exclusive content directly on their devices. It is important to note that creators can come from different backgrounds and strata of society. Thus, they can be students, disc jockeys (DJ), influencers for a certain brand, athletes, podcasters, designers, journalists and researchers.
How does the payment mechanism work? Fans will receive a number of digital tokens. Thus, people seeking popularity have several choices in their hands. They can write personal interaction sessions, write newsletters and magazines, organize events and also sell branded products.
Above all, they can build a hyperlocal community. They can award points and tokens to fans. Later, their followers will trade these digital assets on crypto exchanges and decentralized finance (DeFi) platforms.
Finally, artists can closely monitor the number of daily and monthly active users (DAU and MAU), as well as the number of likes, comments, shares and views on their official channels and social networks.
In the long run, they will see an increase in engagement. There will also be a positive word-of-mouth (WOM) buzz as fans share their content with family members, friends and colleagues.
What social token trends to expect in 2022?
Subscription Models – Celebrities can do this by following a tiered structure. They can price their exclusive content at a specific price. Well-known personalities can introduce different levels to see photos, branded products and videos. So, fans have to pay a certain amount to buy these basic, standard and premium packages.
Fundraising campaigns – Superstars can support social causes by running crowdfunding campaigns. Fans will transfer funds by linking their hardware and software wallets. Later, celebrities can collect all the money and transfer it to charities and non-governmental organizations (NGOs).
This can relate to activities such as climate change, education, water conservation, health care, disability support and poverty reduction.
Undoubtedly, the creator economy is changing rapidly today. Social tokens tick the right boxes in terms of community building, providing a virtual experience for fans and also helping celebrities generate passive income. Do you want to enlighten the world of Web 3.0? Build a white label social token platform soon.