March 3rd, 2022

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