Is a social token a new trend?

How does social token work and why is it needed?

The main goal of social tokens is to reflect community membership to receive some special benefits from purchasing a piece of art or a music record. For instance, you can buy a social token and get access to some courses, media products, or goods. Then, by buying a token, you can trade with it on the cryptocurrency market. As a result, the more people who invest in a social token, the more valuable it becomes. In other words, the traditional model of cryptocurrency trading applies here as well. Nowadays, more than 300 social tokens are circulating on the market. For example, RAC (Andre Allen Anjos), a Grammy-winning American-Portuguese singer, created a social token for creative individuals based on the Zora platform. Everyone could have an opportunity to gain access to various benefits and exclusive content with this token.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

bit4you is an european crypto exchange platform. We are facilitating the transition between crypto currencies and traditional currencies such as euro.