This is a guest post featuring forefront advisor and DeFi God and Social Tokens Messiah Cooper Turley
What started around the term "personal token" has quickly blossomed into a suite of vehicles sharing similar characteristics with different goals.
Personal tokens are those which focus on one key individual. The success of the token is directly linked to the success of that individual, either through tied in token mechanics or by the macro nature of their growth.
As a French entrepreneur, Alex Masmej offers a tokenized vehicle to support him as an individual as he creates his next crypto startup. Tokenholders benefit from governance decisions which directly influence Alex’s real life. In the "Control My Life" poll, ALEX holders voted on the best habit for Alex to follow in the month of July. After deciding on running 5km a day, Alex adhered to a vote to get in shape! Listen to the full story behind ALEX on The Defiant.
As a DeFi power user, Kerman Kohli has solidified his standing in the ecosystem through the advent of $KERMAN - a personal token which benefits from the growth of his newsletter, DeFi Weekly, along with future projects like Arc. Kerman places a number of interesting mechanics around his token’s growth including burns and tokenholder benefits in his innovative endeavors.
Community tokens are those which empower a specific community. The success of the token is tied to the success of a brand, either from the value gained from being in that community or in the ways in which the brand grows.
The JammSession newsletter is focused on the creative ways in which crypto reaches a mainstream audience. $JAMM is a means of accessing the high value community which subscribes to JammSession, along with curated drops and rewards for those who are most active within that community. While Brian Flynn is the creator of JammSession, $JAMM’s success is tied to the Jamm ecosystem rather than Brian as an individual. Let’s Jamm!
As a forthcoming community token, Coin Artist is creating a personal token for her community called "Coin’s E-Den". With a star-studded resume in crypto puzzles, COIN will play a fundamental role in the success of her next puzzle, along with numerous other gaming experiments which are unlocked by being a COIN holder. While Marguerite is the face behind Coin Artist, the success of COIN is directly tied to evolution of Coin’s E-Dens and the collaborative tasks the community bands together to solve. More on COIN here.
Both personal and community tokens benefit from similar tooling. This most common tool is the Collab Land Telegram bot - allowing any creator to spin up a token-gated chat room. The bot checks to see if a user has X amount of tokens in their wallet, and boots those who do not meet the minimum threshold.
Moving forward, this premise for tiered access is likely to evolve to a suit of different reward opportunities for those who hold at least Y tokens in order to complete Z task.
What’s important to keep in mind is that these tokens are bigger than those who create them, and we’re still in the extremely early stages of how they can be used.
To this end, I’ve created the Personal Token Agency - a collective to manage and advise token creators on best practices and standard for sustainability.
I truly believe that social tokens have the power to enable self-sovereignty to any creator bold enough to take a leap of faith. While the Agency is starting with crypto-native creators, the wider vision is to take these principles and package them in a way such that anyone can get involved, regardless of if they have MetaMask or ETH.
In the meantime, it’s projects like Forefront that are showing that social tokens are more than just a speculative game. The ability for community members to capture the upside of their favorite individuals or brands is one which has unlimited upside.
If you’re keen to keep the conversation going, DM me on Twitter. The first 5 people to message me with the phrase “Forefront is the future” will receive an airdrop of any creator listed on the Forefront market of their choice.