Social Tokens: The Biggest Cryptocurrency Market

The cryptocurrency industry is proceeding along. There is a lot happening in a relatively short period of time.

Over the last few years we saw many different phases with various tokens developed. So far we can see the different crazes that emerged.

  • ICO
  • Decentralized Finance
  • NFTs

Obviously, there were a host of tokens created, many which will be a part of this system going forward.

We are now about to embark upon one of the largest markets cryptocurrency ever say: **gaming. This is an arena with over 2 billion users and growing. Now that we know gaming is the next phase of cryptocurrency what comes after that?

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Social Tokens

What is bigger than online gaming? Social media. Is it any wonder why that is?

Humans are social beings. We enjoy, for the most part, interacting with others. The digital entities has done a fantastic job tapping into this human need. Many consider it "mind control" since they are using psychological tactics and, to a degree, it is most likely correct.

However, we cannot deny the deep-seeded need that exists for connection. Social media companies do a tremendous job accessing this. For this reason, more than half the Internet is on some type of social media platform. That is also a number that is growing.

For this reason, social tokens are going to be even bigger than those from gaming. They will be the largest market comprising of all those online. It is easy to see a time when almost all activity is tokenized in some way.

We see it added to another level when we recognize communities as the business structure. Suddenly, it all, for the most part, becomes social.

Having Fun And Earning

Of late, many are starting to grasp initiatives such as Play2Earn. This is part of the Blockchain Gaming community where people are starting to realize they share in the financial gain. It is a novel concept and a basis of what people are calling the Metaverse.

We see people posting on social media (and Hive) how they are amazed they are having fun and earning money. Some mention that they are paying some, if not all, their bills from it. This is a completely new experience.

It is also one people better get accustomed to.

The future with tokenization is one where communities are able to monetize engagement. Whatever the reason for coming together, a token is tied to it.

We all have areas of interest. This is the essence of voluntaryism. When someone opts to be a part of something, it takes on different meaning as compared to when he or she is forced to be there, such as a job.

In a world of tokenization, having fun and earning can be the regular course of action.

The Attention Economy

We already live in a world where attention is vital. This is a source of revenue. If they can capture your eyeballs, then they will monetize it. Social media is fantastic at this of course. They are not the only ones. Consider broadcasters who try to get your onto their stations so as to sell advertising at a higher rate.

The reality, right now, is there is a limit to where our eyeballs go. This might change with the development of AI, avatars, and the VR world. In the present, we are limited by time.

If we remove the traditional notion of work, think about what is left in our lives. What is important is often determined where we spend our time. Here we have a degree of freedom to choose. It is also where the social aspect of life arises.

As we see the blending of things due to technology, we are going to see this area expand a great deal more. As businesses are developed by members based upon community involvement, and all are sharing financially in it, then the choices we make for our social engagement is going to impact our monetary life.

There is little doubt as to why Facebook is one of the largest companies in the world by market cap. This is a platform that simply caters to social engagement. As much as many of us feel this particular entity is harmful, the success it enjoys by garnering people's attention tells the entire story.

When it comes to attention, Facebook captures it.

The key going forward, is to spread that out while giving more control to the communities and their members.

Hive Is Leading The Way

Hive is already showing what is possible. There are communities forming which appeal to a large cross-section of interests. Many of them are already tokenizing, providing a monetary value to their members.

The challenge in these early stages is infrastructure. There are not a lot of tools developed as such that allow for greater engagement. At the same time, we have seen few businesses spring up around these communities. That will change in time as they grow and more entrepreneurs enter the picture.

Nevertheless, even in these early days there are hundreds of different tokens on that platform. Sure many, if not most, have small followings and no use cases. However, as there are more options to create tokens and larger communities start to form, we can see how this will spread. To get to large, more smaller communities will arise.

This is going to result in millions of different tokens being created. They will apply to every walk of life we can think of. In essence, wherever we choose to spend out time (focus our attention) is where we will be monetizing.

Whether it is gaming, creating content, watching videos, volunteering, exercising, or eating nutritional food, all of that is going to be monetized. We see this in the early stage on Hive. Many of communities or applications offered tokens for engaging in that behavior.

Social tokens will end up dwarfing all other aspects of cryptocurrency. They will be the biggest cryptocurrency market we create.

In time, all will use them.


If you found this article informative, please give an upvote and rehive.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 68 of my contest just started...you can now check the winners of the previous week!
!BEER
7

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Social tokens are going to be 'the next big thing' for crypto! Powered by several amazing communities. On Hive, the best part is that anyone can create one and reward users for socializing within the community.

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Yes. For example now I give you some !PIZZA.

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I think gaming is going to squeeze in there if we are looking at this in terms of phases. But you are right, there is so much to powering communities, what they might be.

Even businesses can be built around this concept.

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I see a lot of potential with new social media platforms such as hive that reward in crypto. Rewarding the people the create the content on the platform instead of the platform capitalizing on the content creators while shadow banning them etc.

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People can even reward each other with various tokens.
I give you some !PIZZA.

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It seems that Twitter is shadow banning people talking about Hive.

Oh well, we will just reach the masses another way. We have many avenues to pursue.

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Yeah, its funny how I can never ever go over 100 followers, and I always hashtag Hive.

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If Hive is getting shadowbanned by Twitter, maybe we should talk about the various front-ends or tokens instead. ctp-fixes-this, leofinance-fixes-this, we-are-alive-fixes-this, etc.

I just read this post today, so it's too late for me to upvote it. Please accept a slice of !PIZZA in place off the upvote.

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Social decentralized tokens to overcome the upcoming global social credit "digital currencies" of central banks is one of the few options left. It does not matter if your Euro account is made invalid, if the local community accepts the new tokens.

The options are nearly limitless, from time-based means of exchange to gift certificates, the old virtual credit/debit databases called money will become obsolete. It is up to us, how the future will turn out.

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It is not hard to envision how a shift is taking place and that it will affect everything.

Cryptocurrency is going to be a foundation for a lot of stuff constructed. Social Tokens are going to allow everyone to participate.

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We already live in a world where attention is vital. This is a source of revenue. If they can capture your eyeballs, then they will monetize it.

Facebook and Google of course has done this for ages and became multi-billion dollar ventures, with attention shifting to monetization of games and blockchain prospects, people now find it even more rewarding to be paid for being entertained, I mean, the power of attention can create wealth beyond imagination. Stunning read, I was just thinking about how far we've totally come with this.

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(Edited)

Facebook and Google of course has done this for ages and became multi-billion dollar ventures,

These entities are now trillion dollar companies.

I mean, the power of attention can create wealth beyond imagination

It always has just the distribution sucks.

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We are social animals, therefore we would love to relate to a bigger group or community.

If we remove the traditional notion of work, think about what is left in our lives. What is important is often determined where we spend our time. Here we have a degree of freedom to choose. It is also where the social aspect of life arises.

Indeed many people are always glued on their social media even during work hours, there is a way dopamine is so powerful.

I keep telling friends not yet in crypto that it is going to reach a time whereby everything we do is monetized. I always give them an example of Actifit, I cannot leave home without the App open, I want to monetize every step of the day hehe.

Let us hope after the play2earn craze people will realise that they can also take part in socialize2earn and Hive is already well positioned with the many communities around.

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@actifit is a great example. What is more common to most people than walking and there is a way to monetize it. While it might not be a fortune, it is something coming in each day.

Now multiply that by 100 or so applications.

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Actifit is a great example health and exercise is not only something that is very important and useful to people. It's relatable to a large amount of people across many sectors. Same thing with ubi.. a ubi crypto you probably would have 80% or more people globally would support it.. however the problem is we still have this minority pool of investors controlling the bulk of these crypto projects and they are pushing the less valuable and less useful crypto projects to the forefront. That's why right now the most useful projects that should be top 10 projects aren't.

Projects like Singularity.Net that is dealing with decentralized ai.. something that can stop rogue nations from getting super ai's and taking over the world making us all slaves. We still are investing and pushing the baloney projects to the top of the heap. To me this shows such a high level of ignorance.

Good news i think very soon all that will change. I think people will stop promoting those projects and through grassroot effects one guy won't be important anymore to supply half the liquidity pools solely on his own. I think we're going to move away from all those sad areas of crypto and to more egalitarian methods.

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I like Singularity.Net and watched that one form. Didnt invest in it but would not get against Goertzel.

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Exactly Ben is a great human being. They should be in the top 10. This is the negative stagnation of the false version of capitalism we use and false idea of freedom. That we stop progress to chase money. We won't invest in singularity.net..or actifit or btcmyk but we invest in projects where like one guy supplies half the liquidity pool and we call that progress. I don't call it progress that doesn't impact the network community of users i don't think. That still feels like it's not participatory.

So crypto is completely oblivious still to what progress really means. yes that will change in the future. However those type projects that represent a false sense of progress and economic prosperity i don't think they will be around in the future.

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(Edited)

Indeed many people are always glued on their social media even during work hours, ....

You know Hive hit it big when workplaces block Hive Social just like they block Facebook, Instagram, Twitter, etc.

Play2Earn is a big deal, and there is room for a wide variety of games. Some kinds will do better than others, but all can offer players something of value.

It's too late for me to upvote your comment, so please accept this slice of !PIZZA.

Speaking of PIZZA, the people behind the PIZZA token are major players behind the scenes (which I didn't know until recently). It just makes sense they would get involved with gaming in some way (whatever that is).

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crazy, earning money by playing wonder how that's happening. It's crazy, definitely milleniums and younger forks leading the video gaming craze son't you think?

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It would make sense that younger people will drive a lot of this. They are the ones who are technologically inclined.

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The silvergoldstackers (SGS) community on hive keeps an eye on all developments. ;)

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Glad Hive is leading in that category.
Any idea about project blank?
The incorporation on the tribe/community
change for a while the attribute of Hive
for good.
It seems value works parallel with the whole market
Hive is worth more than 1000+ satoshis.
Volatility is acceptable.

!BEER

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millions of different tokens being created

It's going to be a nightmare to keep track of everything if you are randomly earning various tokens everywhere.

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Yeah you will have money stashed everywhere.

In fact we already see that to a degree. Look at all the stuff in a H-E wallet and try to learn what it all is.

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Congratulations @taskmaster4450! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 1010000 upvotes.
Your next target is to reach 1020000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Feedback from the August 1st Hive Power Up Day
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The power of communities is really something amazing. We have a community for everything here and in the odd chance you can't find a community to share one of your interests, you can just start your own.

This is really gonna change the landscape of social interaction.

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Or it could also happen like Hive does that combines crypto gaming and social interaction, so I wonder why Hive is so undervalued and silenced if it offers unmemorable benefits?

Because while everyone is chasing a ridiculous dog token, we at hive are growing as a community with many applications such as NFT art, NFT games, second layer blogs, etc...

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Hype is what is selling right now. There is no need to fall into it or worry.

We are building, developing, and growing. @splinterlands is adding a large number of sign ups. That will have an overall impact.

After that, just need other projects to follow suit.

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Exactly. Splinterlands is what introduced me to Hive. And every day I become more and more of a Hive maximalist. I think many others will enter the Hive ecosystem this way, too.

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That is great. However one gets here is not really important as long as he or she arrives.

Hive Maximalism is not the worst thing to be in the world, especially these days. A lot going on. Fun to see.

If we keep the activity level up, things will start to happen on a larger scale.

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As far as being silenced, one reason could be that Hive doesn't "play the game" played by Web 2.0 services like Twitter, Facebook, and others. Twitter sees Hive as such a threat that it is shadowbanning people mentioning Hive.

Given where Hive is positioned compared to the Web 2.0 services, it's sae to say that Hive doesn't play their game. If it does, Hive doesn't play by their rules. Control freaks can't have that, andWeb 2.0 services are run by control freaks.

The "game" played by Web 2.0 services involves total control at the expense of the freedoms of users of the services. Web 2.0 services are centralized, and they are exercising that control in questionable-to-dangerous ways. Hive is a leader in Web 3.0, the Decentralized Web. As the saying goes, "Hive fixes this."

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I really couldn't have said it better myself.

Hive is like ethereum but cheaper, faster and accessible to everyone, as you say they are afraid of it and that's why they silence it by all means.

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Social Media on the blockchain will expand, games created on blockchain will be used by many gamers, art will become almost all NFT ... and the beauty is that HIVE already has all of this.

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Still lacking the robust smart contract platform that would put us in Ethereum's class.

We will see that by the end of the year.

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are there any HIVE developers working on smart contarcts?

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Hive-Engine has smart contracts.

DLUX by @disregardfiat has smart contract capabilities and is adding to it.

I believe Blocktrades also has one planned.

@klye was working on creating a Hive version of EVM like BCS did.

So there are a few options appearing on Hive

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Hive is definitely leading the way... and the "first mover advantage" definitely matters. We just have to be able to execute in such a way that those who check out Hive and its ecosystem of communities are impressed not disappointed with what they find here.

This past weekend, our middle son was visiting us for the weekend and he's gotten very interested in the whole Play2Earn movement; he actually got onboard with Splinterlands after we had a nice chat about the future of gaming. So "technically speaking," he now has a Hive account... although I doubt he'll be part of the social site anytime soon.

We just need millions of tiny steps like that.

=^..^=

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He doesnt need to be involved in the social aspect if he is into gaming although being involved there is making him part of the @splinterlands community.

I hope he takes to the game and really starts to have a great deal of success.

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Great post. Doesn't matter how long we wait, the day is coming where people will realize it's all happening on hive.

Tokenized communities is the biggest development of crypto.

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I tend to agree with what you have written here and believe in Hive as a wanted token in the years ahead. Wanted may be the wrong word but more of a must have in your portfolio for staking on the platform. Early days so let us just be patient as the time is coming.

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Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

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totally agree.I start to play splinterland recently.I can get many tutors from hive and youtube.and I do want to donate some coin for those warm-heart people.

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Your posts have really helped me to envision what tokenizing communities I'm currently a part of might look like. I'm starting to get ideas for my business and customers, as well as some social groups I'm part of online and offline.

Do you have any good reading you can point me to on how to start building these communities? Should I start with making communities on Hive? Tribes? Should I dust of my very, very dusty coding skills and look at how to make tokens?

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To be honest the person who is well versed in that is @themarkymark. He knows how to set up things on Hive-Engine and is very knowledgeable about Tokenomics. He also seems to help those who are dedicated to creating and developing stuff on Hive.

As making a community, that is simple and can be done through Peakd. The token is the added variable. That is why I would check with Marky. I know of a couple projects personally that he assisted with (I am sure there are others).

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Thanks. I appreciate that. I'll give Marky a follow if I haven't already. And since there's so much !PIZZA sharing in these comments, have another slice. Can never have too much pizza.

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Good deal. And thanks for the Pizza.

By the way, you might want to hit him up on discord. You can find him through the Leofinance discord.

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Awesome. I'm not in the Leofinance discord, so I'll remedy that. Have an awesome day.

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My thoughts are is there a limit to this? Can we go on creating new coins forever? Imagine if tomorrow every user on Facebook for example could get their own token with the click of a button. Oh, and don't forget the ones created every day (usually from the same people) on Ethereum, BSC etc. 1500 new coins are created and listed on Pancakeswap every day. 500 on Uniswap. Every day.

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