What are Social Tokens?
The idea of social tokens is to reward users for their actions on a platform with an asset that can be used within the platform or traded on an exchange.
Why are people creating tokens?
There are a few reasons why creators are using social tokens
Artists and creators want to be paid for their work. If you create music and other content and want people to pay you, you need some kind of payment system. Tokens can help facilitate this process by allowing creators and fans to transact directly with each other without going through middlemen
Tokens can help connect fans and creators in new ways by letting them transact directly with each other. People want to have control over their content, especially when it comes to how it is distributed and used. We are seeing more people demand ownership of their data and content.
The Disconnect Between Creators and Fans
The issue is that fans are not able to directly support the creators. It’s an indirect method where fans donate their money to a platform, which then gives it to the creator.
This is like how Kickstarter and Patreon work: they’re platforms that allow you to donate money without having a direct line of communication with your favourite content creator.
The problem with this model is that it doesn’t give fans the opportunity to interact one-on-one with creators or get access to exclusive content. There’s no way for you as a fan, even if you want to give your favourite creator $5/month on Patreon or whatever platform they use, because there isn’t any way for them to process payments directly from their audience.
Social tokens allow fans of digital creators to directly support their creators and in return access unique content or experiences.
Social tokens are a new way for fans to support creators and gain access to exclusive content in return.
They allow fans of digital creators to directly support their creators and in return access unique content or experiences. This could be anything from a behind-the-scenes look at the creative process and commentary on the making of their work, all the way through to an exclusive event that can only be attended by those who have purchased that artist’s social tokens.
Social tokens are also a great tool for monetising your work by giving you more choice over how consumers pay for it, whether that’s through advertisements or direct sales where they get something extra back (in this case social currency).
Putting it all together
Social tokens are a new way to monetize your music and content. They’re also a new way to monetize yourself. And they have the potential to connect you with your fans in ways that have never been possible before. But how do you get started?
The easiest way is by creating your own token, which can be done in less than 2 minutes using the Zimrii platform.
We’ve already partnered with music artists who are taking advantage of our new token-based model.
They’re using their own tokens to connect with fans and sell merchandise. And we’re helping them do it by providing the tools and resources they need to build their own token economy.
Conclusion
In a nutshell, using social tokens provides the opportunity for music creators and fans to connect in new ways, while also allowing them to monetise their content and grow their fanbase.
It’s a win-win for everyone involved in the music industry. And that’s why we’re so excited about social tokens, and why we’re helping artists use them to build a new kind of economy for themselves and their fans.