In the context of crypto, social networks are better described as socioeconomic networks. The major difference being that economic utility is built natively into your group chat. Communities are structured around a shared treasury, with each holder staked in its success through token ownership. Large treasuries are made up of primarily ERC-20 tokens, which offer more liquidity, diversification, and accessibility.
Despite this, not all communities need a token. In fact, most don’t. NFTs are an improved model for fungible social tokens.
Psychology of a non fungible holder