Monat: Januar 2022

 Social Token is otherwise known as social money, creator coin, or community token. It is a form of cryptocurrency that is based on digital ownership. It is used by brands, creators, communities, and certain individuals to place a monetary value on what they do. Unlike the mainstream media that controls the content and revenue of these people, social tokens eliminate this barrier by introducing security and decentralisation via blockchain technology.

 Social tokens can be based on an individual or a community. Just so you know, NFTs are, in a way, social tokens. They will possibly become more important with the incorporation of web 3.0. They can be used to incentivise community fans and compensate the creator.

 Most social tokens exist on the Ethereum blockchain. Companies like Seed Club, Fyooz, Rally, and BitClout have invested in social tokens projects. Like all cryptocurrencies, there is the risk of regulations. However, it is believed to be the future of branding and marketing.

 Your favourite artiste, athlete, or influencer might not have a social token yet, they would catch on soon. But while you wait for them to, consider the following social tokens.

1. SWAGG

 SWAGG is the social token of the SWAGG Network. It can be used to get their creations, participate in Forefront, enjoy SWAGG Drops, get SWAGG Rewards, and partake in any community-initiated projects. Holders are granted access to the private SWAGG Discord group. Also, they would be able to propose and vote on plans and actions of the SWAGG community.

 SWAGG allows holders to have to access the SWAGG House. It was created to promote collaboration, authenticity, and creativity among community members. Holders can redeem creations made in the community. They can use their SWAGG to provide liquidity on the Uniswap exchange.

 To enter the SWAGG community, you need nothing less than 400 SWAGGs in your Metamask wallet. To participate in future community governance, you will need 10,000 SWAGGs. It was minted on Roll and had a total supply of 10 million tokens with a 1299-day vesting period. One million will be reserved for community grants and rewards, while 2 million will be kept for community issuance.

 There are over 7 million in circulation right now. As of today, it costs $0.043. It reached an ATH of $0.26 in September 2020. It has a market cap of $330,843.

2. BAEPAY

 It is a social token created on the Ethereum blockchain by BAE. BAE was founded in 2018 as one of the first platforms for Crypto Art. It is an open platform for avant-garde, underground, and outsider artists to stage their artworks on the Ethereum blockchain.

 BAEPAY is used for rewarding community members and as a governance token. It can be used to make payments on the platform. It rewards both liquidity providers and artists for creating a stable economy.

 It is available on the Uniswap exchange, and it costs $0.05 right now. It peaked at $1.65 in March 2021. There is a total supply of 10 million, and over 5 million is in circulation now. It has a market cap of $256,616.

3. Rally (RLY)

 RLY is the social token of the Rally Network launched on the Ethereum blockchain. The Rally Network allows creators, brands, and communities to launch their social currencies. This gives their fans access to their benefits. Rally is an Ethereum sidechain for creators to build their digital economies.

 It supports easy integration with other platforms, including allowing authentication of fans and blockchain exploration. It is open, compatible, and secure. This would allow creators to enable transactions, control access, and create more economical solutions.

 Creating on Rally does not require transaction fees or liquidity. It is eco-friendly and supports payment cards. Fans need RLY to buy the tokens of their favourites. It is the number one social token.

 It is listed on Huobi Global, KuCoin, Coinbase Exchange, MEXC Global, Gate.io, and Uniswap exchange. Out of the 15 billion total supply, 2.3 billion is in circulation right now. As of today, it is worth $0.22 and has a market cap of $496 million. It reached an ATH of $1.20 in March 2021.

4. Friends with Benefits Pro (FWB)

 The Pro was added in March 2021 after the Roll social token exploit. The community consists of individuals, including web 3.0 artists, innovators, and thinkers, among others, interested in a decentralised future. The principles guiding the community include shared identities, responsibility, inclusion, diversity, and peace of mind. FWB is required to access the community.

 FWB is the most expensive social token. One FWB costs $46.40 as of today. It has a market cap of $27.7 million. Over half of the total supply (1 million) is in circulation now.

 It peaked at $196.19 in August 2021. It is listed on Uniswap exchange and Bitget.

5. MORK

 This is the social coin of the Hackatao art collective and its community. The MORK cafe can be accessed through Discord. It was launched in August 2020 on the Ethereum blockchain. It is listed on the Uniswap exchange.

It has a total supply of 10 million, and over 8 million tokens are in circulation right now. It peaked at $14.79 in November 2021 but is trading at $2.41 now. It has a market cap of $19.3 million.

6. WHALE

 WHALE was launched in May 2020 by WhaleShark, an NFT collector. It is the first token pegged to an entity- The Vault and governed by a DAO. The Vault is a publicly audited safe that comprises WhaleShark’s myriad NFT collections. WHALE was developed using the ERC-20 standard.

 It has a maximum supply of 10 million; 10% is allocated to the founder and his team, 10% is sold privately, 42.6% is distributed to the community, and 37.4% is kept in the WHALE Foundation reserve.

 Holders will enjoy numerous benefits. Some of which include renting NFT from The Vault, purchasing exclusive NFTs, and buying selected NFTs from The Vault. Also, they would participate in the governance of the community and the DAO’s projects. Holders can use their WHALE to support liquidity mining for rewards.

 Holders would also enjoy exclusive access to NFT airdrops, channels offering games, WHALE airdrops, networking opportunities, and one-on-one with WhaleShark. Unlike most social tokens, it has numerous use-cases, is pegged to digital assets, and is governed by a DAO.

WHALE is listed on Uniswap exchange, Huobi Global, KuCoin, Hotbit, and Hoo. It peaked at $52.37 in March 2021 and is now worth $7.84. It has a market cap of $57.2 million. 7.3 million is in circulation right now.

Ending Note

 Asides from the tokens listed above, you can check out GCR, GENRE, YUP, and ALEX. Social tokens are cryptocurrencies and as such are volatile. They are a risky investment, so only buy tokens with the money you can do away with. Do your research and always deal wisely.

The post Top Social Tokens to buy in 2022 appeared first on Coin Journal.

Blockchains used to be known for cryptocurrencies only and maybe dApps. However, this was changed around 2017 with the possibility of creating digital assets. These assets were named non-fungible tokens. Unlike the tokens of that time, they are not equal in value.

 A unit in a collection may be costlier than another unit in that collection. In essence, you can’t interchange one for another; they were one of a kind. The creation of NFTs was made possible by the ERC-721 standard of the Ethereum blockchain. Moreover, these have led to other blockchains, like Solana, Algorand, Cardano, and others, joining the bandwagon.

 NFTs had no value initially, however with the massive attention from the media, they became valuable. While some still see it as a bubble, some individuals have positioned themselves as creators, collectors, and flippers. NFTs vary from digital artworks to domain names, in-game items, essays, and digital collectibles, among others. Digital artworks are the most explored right now.

 NFTs are bought on specialised marketplaces with ETH, SOL, or relative tokens, unlike cryptocurrencies. These include OpenSea, SuperRare, Rarible, Larva Labs, NBA Top Shot Marketplace, Axie Marketplace, and many more. While saving them on software wallets is not bad, it is safer to use hardware wallets.

 Now that you’ve gone through the basics consider these top 5 NFTs. They are the ones you should invest in before this year fully takes off.

1. Bored Ape Yacht Club (BAYC)

 This NFT collection comprises 10,000 units of Bored Apes. They were created by Yuga Labs on the Ethereum blockchain and were hosted on IPFS. In April 2021, when it was launched, a Bored Ape cost 0.08 ether. While this may still be true according to BAYC’s official website, it has a floor price of 86 ethers right now.

 Each Bored Ape has unique characteristics endowed on it by a program of over 150 possible features from colour to expression, clothing, and headwear, among others. While they are all dope, some Bored Apes are rare to come across. Of the 10,000 Bored Apes, 6,000 have already been bought by people, and over 338,000 ethers have been traded as of today.

 The club has a graffiti board called the bathroom. It is accessible to members only. There are plans to unlock more perks and areas as the project progresses.

 Since its launch, it has gained massive attention. Celebrities like Post Malone, Eminem, Jimmy Fallon, and Stephen Curry own Bored Apes. BAYC partnered with Adidas on their first NFT project. Also, one of the Bored Apes was featured in Rolling Stone magazine sometime last year.

2. LANDs

 These are pieces of land that exist in virtual worlds. Depending on the metaverse, the land can be used for various things. It can be traded, used for real estate purposes, or used to build offices, casinos, parks, or museums. There are two metaverses right now where you can own landed properties.

One is The Sandbox. The LANDs on The Sandbox is a digital piece of real estate that can create experiences or is populated with ASSETs. Over 166,000 pieces of LAND exist on the Ethereum blockchain. A conglomerate of LANDs forms an ESTATE, and an ESTATE owned by different people form a DISTRICT.

 The Sandbox virtual map can be used to check the land use and distribution. It has a floor price of 3.3 ethers with other 18,800 owners right now. A total volume of 139,800 ethers has been traded for LANDs.

 The Sandbox in itself is a play-to-earn metaverse that was launched in 2020. SoftBank, Atari, CryptoKitties, Snoop Dogg, and The Walking Dead have stakes in The Sandbox.

 The other is Decentraland. It was created by Esteban Ordano and Ari Meilich and was launched in 2017. At launch, its LANDs were sold for about $20. It has over 97,000 parcels of land and is worth thousands right now. It was one of the metaverses built on the Ethereum blockchain.

 It has a floor price of 4.159 ethers, and about 6,500 parcels of land have owners now. It has been involved in trades of over 235,000 ethers.

3. Doodles

 Doodles is a project created on the Ethereum blockchain and driven by its community. The collection features the works of Burnt Toast and is made up of 10,000 doodles. It comes in various colours, sizes, faces, backgrounds, and more. It was founded by Evan Keast, Jordan Castro, and Scott Martin in October 2021.

 It was sold for 0.123 ether at launch but has a floor price of 9.5 ethers right now. It peaked at 11 ethers earlier in January. 65,600 ethers have been traded in exchange for a doodle. Over 5,900 now have owners.

 Owners of Doodles can vote to make decisions on the Doodle Community Treasury. They also have access to exclusive meetings. Holders determine the roadmap of the project.

4. Azuki

 Azuki was created by Arnold Tsand and Churi Labs i. August 2021 on the Ethereum blockchain. It aims to give holders access to a metaverse that will be built and owned by them. The collection consists of 10,000 avatars. Holders gain access to The Garden, where artists, innovators, and web 3.0 enthusiasts can contribute to creating the decentralised future.

 The NFT drop is one of seven phases. Others include community development and input, metaverse creation (including Lookbook, Azuki 3D, digital drops, and a game), physical entities (like streetwear, IRL events, collectibles, and so on), experience bridge, and seedlings which include partnerships, DAO, and $BEAN token.

 It has a floor price of 3.44 ethers and 5,300 holders right now. Over 39,000 ethers have been traded so far.

5. World of Women (WOW)

 WOW is an NFT created using the ERC-721 standard and hosted on IPFS. It was launched in July 2021. It was created to promote representation, inclusivity, and equal opportunities for artists. It features 10,000 artworks of different women illustrated by Yam Karkai.

 It initially sold at 0.07 ether. 5,000 has already been bought with a floor price of 7.37 ethers. Over 45,000 ethers have been exchanged for WOW as of today. Reese Witherspoon, Huda Kattan, Liam Payne, Shina Rhimes, Logan Paul, and Eva Longoria are some of the notable owners of WOW.

Ending Note

 Unlike cryptocurrencies, NFTs have no liquidity or volatility. They get their value from speculation and sentiment, making them riskier than fungible tokens. As such, the best advice is that you know where you stand; are you collecting or buying to flip. As a collector, all you need is sentiment. However, as a flipper, you need in-depth research and analysis. Deal wisely; the crypto space is unpredictable.

The post Top 5 NFT collections to buy in 2022 appeared first on Coin Journal.