🧠 A Primer on Social Money by Holyn Kanake

Social Money is a branded digital token that individual artists and creators can issue to their online communities. It allows creators to own, control, and coordinate the value that they create across media platforms. It’s kind of like a personal loyalty rewards program, but with added benefits (and risks) for both creators and consumers.

As the workforce is increasingly atomized into a freelancer economy of solopreneurs, social tokens seem to offer a way for any individual to become a creator by printing themselves a kind of upfront loan, as discussed above.

Creator coins are a new type of asset class that is tied to the reputation of an individual, rather than to a company or commodity. They are truly the first tool we have as a society to trade "social clout" as an asset. If people understand this, then the value of someone's coin should be correlated to that person's standing in society.

In Web3, creators monetize through the issuance of a social token or NFTs, with non-fungible tokens acting as digital media ownership.