Before the advent of cryptocurrency aka Social tokens digital creators faced many problems in introducing and monetizing their products. As a result, it was difficult for the artists to attain attention and financially benefit from the digital art they created. Cryptocurrency put an end to this and has opened numerous avenues for digital creators. It has given equal opportunities to all digital creators across the globe.
The cryptocurrency platform has introduced a new creative system called social token. These fungible tokens are created as a brand or as a community-centered token. NFTs (non-fungible tokens) and social tokens are almost identical, except that NFTs are non-fungible while they are fungible (mutually interchangeable). At Blackhole USA, we have high expertise in developing non-fungible tokens and social tokens per customer requirements.
What Is A Social Tokens?
Social tokens are decentralized fungible tokens built on a blockchain. They are community-centered and permit their makers, brands, or community to benefit monetarily from their creation. They form a direct relationship with the collectors and creators of the token. These are of two types; community tokens, and personal tokens.
Organizations, brands, or communities make community tokens. These are also customized according to the makers’ needs. Also, they help make a direct connection between the collectors and the makers. The ownership of a specific community token means that the owner has access to a small portion of the digital product.
For example, if an apparel brand gives tokens to their customers upon purchase of a product, then the customer will have access to a small portion of the creation. For instance, they can suggest new colors or designs for the apparel.
Personal tokens are the tokens that a digital creator operates. These individuals custom create their tokens and distribute them amongst their collectors. By making their token, the owner gets to keep all the monetary benefits from that token.
For example, a digital artist can give his social tokens to his collectors or fans when they buy his digital artwork. These tokens give his fans accessibility to a small portion of his artwork. In addition, they can provide suggestions about his work and become a member in a small way.
Social Tokens in the future
The future is digital. Everything is being digitized, from buying real-life products to buying digital artwork. As a result, many organizations and individuals are shifting towards this trend. Social tokens and NFTs will play a pivotal role in the future of e-commerce as they are gaining a lot of popularity amongst customers and organizations. Although digital creators relied on social media and other online public platforms to advertise their work before the advent of social tokens. These platforms charged a significant amount from the profits earned.
Social tokens resolved this problem by making the digital creator the sole beneficiary of their art. Thus eliminating commission fees and providing total control to the digital creators. They are also proving to be very effective in gaining customers’ attention as they entitle the customer to be a member of the artwork in a small manner.
Why Hire Blackhole USA for making Social Tokens?
Here at Blackhole USA, we provide state-of-the-art token development services. We have developed many digital tokens on different blockchains, including Ethereum, TRON, etc. We provide solutions to all token-related problems and have immense experience creating both non-fungible tokens and social tokens.
Furthermore, we facilitate our clients by customizing the token according to their desire providing a transparent and user-friendly environment. In addition, Blackhole USA provides excellent post-deployment services where our dedicated team is ready to help around the clock.