The Social Token Report: The State of Social Tokens 2023
The PurpleTrader presents its first-ever report, “The Social Token Report: The State of Social Tokens in 2023”. The report aims to educate the community about the current social token ecosystem and the significant developments, emerging players, highlights from 2022, and critical things to look out for in 2023.
While 2022 proved to be a rough year for the crypto industry, one of its worst in recent memories, the social token ecosystem survived and is moving forward.
Our fifty-page report covers the following:
- What Social Tokens Are
- A Snapshot of the Social Token Ecosystem
- Major Predictions of Drivers of Growth for Social Tokens
- Problems Social Tokens Can Solve
- Benefits of Social Tokens For Issuers
- Benefits of Social Tokens for Holders
- Difference Between NFTs and Social Tokens
- The Growth of Fan Tokens in 2022
- Emerging Players in the Social Token Ecosystem
- $ApeCoin: Token Highlights of 2022
- $GCR: Token Highlights of 2022
- Key Social Token Highlights for 2022
Here are Five Key Highlights to look out for in the report:
- Fan Token Growth: Despite a bear market, Fan Tokens sales totaled around $62B, up 17% from 2021, and leading platforms such as Chiliz continued to double on its development and technology, an indication that they are betting big on fan tokens.
- Benefits of Social Tokens: We must understand that social tokens are not meme coins; they differ from traditional crypto tokens because they have strong social and utility components. With social tokens, creators, brands, and communities have new abilities to monetize their content and engage with their fans in a way that rewards them for participating in their digital economy.
- Emerging Players: With over $403M in venture capital (public information) poured into the ecosystem. Companies and Investors are betting big that Social Tokens are here to stay. The development of tools, platforms, and exchanges in the social token ecosystem set up a foundation for growth in the years to come.
- Social Token Highlights: There’s a saying in crypto that bear markets provide the best opportunities for projects to build. 2022 was a significant year in development for projects across the social token ecosystem, and some took this time to find ways to provide value to their communities and better position. In 2022, we saw a rise in new partnerships and membership growth across the social token ecosystem. The progress of $ApeCoin, $GCR, $FWB, and $CULT are just a few of the many tokens we cover in this report.
- Creator Tokens: 2022 demonstrated that fan tokens & community tokens are leading the charge in the social token ecosystem. That isn’t to say that creator tokens won’t play a significant role in the future. However, it will take severe development, education, and new metrics to help strengthen the creator token ecosystem.
Make sure to download the free copy above to read the whole report.
Click here to download the free copy of the Social Token Report.
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Disclaimer: Please be aware that this report is neither financial nor investment advice. You should always conduct your own research, and consult an independent financial, tax, or legal advisor before making any trading or investment decisions. Nothing contained in this report is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to under take any investment or trading strategy with respect to any of the tokens discussed in this report.
PurpleTrader does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this report