Take stock of 42 projects at SocialFi: social, ecological, DAO and governance tools
Blockchain + Social is an interesting racetrack that always attracts developers to keep trying.
As one of the hot tracks in the industry, the social token ecosystem is growing. After 2020, DeFi era begins, Influenced by the concept of open finance and the way of liquidity mining, SocialFi has also started the transformation from “Social + Finance” to “Society + DeFi.”
After the arrival of the DeFi era, NFTFi and GameFi broke out one after another, and Social Fi is expected by the community. In fact, in the first half of 2021, a number of new projects of the Social Fi concept are being added to the track.
At present, the track is still in the early stages of development, most of the ecological participants based on social tokens (Social Token), concept divergence and technical update. In most of the data statistics platform, the platform that classifies the concept of Social Fi is still relatively small, and some projects often overlap with NFT, GameFi and other concepts. On Coingecko platform, 33 kinds of social tokens are included in the explicit “Social Money”; On the Zerion platform, there are 18 social tokens classified by Social Tokens.
Definition and classification
The Social Fi track project is based on the following definitions and classifications:
Social Tokens are defined as “a token backed by an individual’s reputation, brand or community.”
Social tokens are built on the premise that the value of the community will continue to increase. Among them, casting and distribution, content capitalization are the mainstream project ideas.
Social projects manage their own communities by issuing coins. They can divide levels according to the activity and contribution of users in the community and enjoy the token rights to increase the income for creators, cultural producers and relevant participants. There are many tools available to support this.
Most of the social tokens are based on ERC-20, and mainly from the distribution model, asset preservation, pass model, community management four main directions of technical extension and project innovation.
From the function, to personal tokens, community tokens, social platform tokens for the main categories. In a more detailed classification, social platform tokens tend to emphasize the creation of value flows within the platform, while social tokens emphasize the services and values provided by individuals. The development of community tokens has also been promoted by means of Dao organization and mobile mining. Many projects also intersect with other concepts.
Currently, the existing distribution of social tokens involves personal financing, private community, fan economy, platform subscriptions, sports entertainment, personal funds, community brands and more.
SocialFi Ecological Overview
● Personal tokens
RAC (https://rac.fm/)
RAC is the brainchild of Grammy Award winners DJ RAC (André Allen Anjos) Based on the Ethereum launch of the fan token. Holding the token gives users access to exclusive Discord channels and the opportunity to pre-air drop and pre-receive unreleased content. In addition, holders of a certain amount of RAC can participate in exclusive privileges such as exclusive product launches held by RAK in digital product exchanges such as Zora or Super Rare.
ROLL（Creator Token） (https://tryroll.com/)
Roll is one of the established social token distribution platforms. In this platform issue mode, Roll will create ERC-20 tokens on behalf of users, that is, to issue individual social tokens for content creators, each individual social token supply is 10 million, Two million go directly to content creators, 1.2 million go to the Roll platform, and the rest will be linearly unlocked every month for three years. At the same time, ROLL also provides a storage and trading platform.
Currently, 200 content creators issue their own social tokens through ROLL. But in the first half of this year, Roll platform was hacked to steal 3000 ETH event triggered discussion, and to a large extent, dampened the entire market for social tokens enthusiasm.
Whale （https://whale.me/）
Whale is a well-known personal token issued by individual buyer Whale Shark based on the Roll platform. Its token value is based on the NFT assets held by Whale Shark himself, and the valuation is available according to NonFungible.com. Whale allocates 50,000 tokens a month to acquire NFT, donate to artists, team salaries, community events and more, and records via Discord, one of the mainstream social platforms overseas.
In addition, creators can earn WHALE by pledging their own NFT works and can sell their works at the Whale price on Opensea.
RALLY （Creator Token）（https://www.rally.io/creator/）
RALLY, one of the early well-known social token issuing platform, The utility model is characterized in that the original governance token RLY can be combined with the social token of the creator and cast into a new personal token, and the conversion of the personal token must be through the RRY. The platform covers the whole process of issuance, channel, financing and transaction. Rally uses Layer 2 solution to optimize the mechanism of real-time transaction. The token holder has management rights over Rally Network.
Currently, RLY is available for mobile mining on Uniswap and Balancer.
MeTokens（all.me）
Individual token offering platform MeTokens aka “Strike on Me.” Users can create their own meToken, or buy someone else’s, with the idea of “investing in their future and benefiting from their own appreciation.” In this platform, individual tokens are exchanged by pledging tokens, such as ETH, The total supply of a single MeTokens is fixed to the number of pledged tokens in reserve, so the individual token can always redeem a portion of the pledged tokens.
MeTokens completed its pre-seed round of funding this year, and now has an App version.
MintGate (HTTPS: / / www.mintgate.io /)
MintGate is an Erc20 Individual Token Offering platform where most individual token issuers distribute to their fan base via Twitter and act as a pass to the relevant communities. Fans with a specified number of tokens can get different service experiences.
Mint Gate related content can be hosted on Filecoin. It is also currently working with the Matic Network.
ALEX
ALEX may be the earliest exploration of social tokens. Founder Alex Masmej, who created the token to raise enough money to move to San Francisco to continue working in crypto, raised $20,000 from the initial ALEX offering. The approach was unprecedented at the time.
◆ Community Tokens
1) Community Content Financialization
Mirror（ https://mirror.xyz/ ）
Mirror, from the perspective of content financialization, provides a platform for every article to have “NFT + governance” attributes, these content can be invested, traded and governed. Creators who meet the requirements can launch crowdfunding under the article. Users can get involved in crowd-funding. Each transaction of “Article NFT” is linked to investor dividends. In addition, the invitation token “WRITE” is used to create columns, and the holder has voting rights. “WRITE” can also act as a form of admission under certain platform preset conditions.
Mirror’s NFT token casting is done with the Zora platform. The platform, founded by Denis Nazarov, a former partner of a16z crypto, has been widely followed in the field of social tokens.
Cent（https://v.cent.co/）
V.cent.co is a celebrity social network that turns celebrity tweets into NFT and then auctions them off. In the transaction, 95% of the original tweet creator owned, 5% to the platform; Of the secondary sales, 87.5 percent went to sellers, 10 percent to creators and 2.5 percent to platforms.
Yup (https://yup.io/)
Yup is a protocol that tracks social activity and behavior, tokenizing the impact of social activity such as likes and comments on content quality. In the platform, each user and content address (URL link) will be corresponding to a certain impact score, the platform based on user likes, comments and other social behavior, will be awarded to more social value of the content, content producers and intermediaries can earn assets.
Matataki（https://www.matataki.io/）
Matataki (based on Meta Network) is an RMB denominated social token offering and content platform. Fans can use the Matataki platform to buy personal tokens for features such as unlocking articles. The platform is supported by META coins, which are also platform governance tokens that can be pledged.
The platform supports NFT sales and supports creators dropping social tokens to their fans.
SWAGG（ https://swagg.network/ ）
SWAGG is a diversified social networking site centered on SWAG community. The founders are doing more of a “social experiment,” and SWAGG can be used for a variety of purposes, and token holders can participate in the entire ecosystem built around SWAG tokens. This includes access to works of art in the SWAGG network, obtaining airdrop rewards prior to public sale, funding for community-sponsored projects, sharing valuable content to receive rewards, exchanging tokens for community creation, and The SWAGG community makes recommendations and votes and so on.
2) Social Token + Dao
Karma DaO (https:\ twitter.com / karma _ dao)
KarmaDAO is a very typical DAO community, originating from the social experiment of crypto lovers. Designed to create a shared investmentviewpointA community that provides insights and advice, leads the community, helps raise funds for projects, hosts virtual conferences, and more. The main values of a community are information and insights.
Karma DAO has three ways to interact: members holding tokens, peer-to-peer tipping, and wearable NFT. In this community, members need to hold $200 KARMA to enter private group chat.
Friends with benefits（ https://www.fwb.help/join ）
FWB is a private social platform based on Discord’s private server, bringing together a group of cryptographic creators and thinkers. Participants need to hold a certain amount of native token $FWB to join the social circle. $FWB has a constant supply of 1 million.
Ark（https://ark.gallery/）
Ark is an investment-oriented DAO organization, members can create their own “ARK” to call other members together to buy a specific Cryptopunk; You can also participate in an ARK and get a share of the Cryptopunk that you buy together.
Seed Club（https://twitter.com/seedclubhq）
SeedClub is an incubator for social tokens that aims to make the value of social tokens clearer by working with creators and helping them create templates. The group regularly publishes a list of creators involved in projects and provides financing and support.
Forefront（https://forefront.market/）
Forefront (FF) is a DAO-based aggregator focusing on topics such as social tokens, NFT, and DAO. Within the community, Front distributes tokens to members who complete tasks on behalf of the community. These tasks range from promoting a blog post to designing a POAP badge for an event to building a Discord robot.
Flamingo（ https://flamingodao.xyz/ ）
Flamingo is a DAO organization focused on investing in crypto art, Its members have the right to decide jointly on the NFT art to be purchased, and can split, loan, mortgage, curatorial and other activities.
To become a Flamingo DAO there are certain threshold requirements, need to donate some ETH as a condition of membership, followed by a maximum of 100 members.
◆ Social Networking Tokens
1) Casting / Distribution Platform
Chilliz（https://www.chiliz.com/）
Chilliz is typical of the “fan economy” of social tokens, focusing on the sports industry. CHZ is a native certificate of Socios, a body entertainment fan motivation platform based on blockchain technology. Socios currently issues fan tokens in partnership with 48 clubs or partners including AC Milan, Manchester City, Arsenal, Barcelona, Paris Saint-Germain and Juventus. Socios.com users can purchase club fan tokens by holding Chiliz. Holding the token can have community voting rights, decision-making rights and other interests.
In the community, fans with fan tokens can vote on matters such as the club’s shirt colour, stadium music and logo, friendly matches, charity lineups, entrance songs and more, and the results are binding. Enhanced user community participation.
Zora （ https://zora.co/ ）
Zora defines its protocol as a “universal market agreement for media ownership.” The platform allows art, article or music creators to issue their own tokens. Zora is also a co-issuer of RAC community tokens.
Currently, Zora makes a social media client, and the platform attributes are more NFT casting.
CircleUBI（https://www.joincircles.net/）
Circles can issue personal tokens belonging to users to build social networks based on personal tokens and social trust. Here, two parties that trust each other and have the same supply and demand can trade in individual token currencies to obtain services from individuals. The Circles UBI concept focuses more on socializing than on UBIs.
Martin, the project’s founder and developer, was also one of the people who proposed Uniswap’s AMM mechanism, giving the project its own aura. In the late 1920s, Circles UBI gained early user traffic when a large number of users promoted their own QR codes in the community and wanted to gain trust from others. The number of users exceeded 300,000 in the first half of this year, according to official information.
Loopss（https://www.loopss.me/#/）
Loopss is an infrastructure for programmable social networking that generates different application scenarios. The project originated with Dora Hacks DeFi Hackathon and was built on BSC. The most basic function of Loopss is: based on stream payment technology, individuals can issue their own personal credit currency, the value of the credit currency comes from personal credit, the transaction depends on the “trust” of both parties, and is regulated by “exchange rate” and “trust degree.” The project logic is similar to Circle UBI.
Using LOOP, we can establish a verifiable social relationship on the blockchain, and based on the social relationship, token distribution, governance, access, and ultimately evolve towards community capital and DAOs.
Fyooz（https://www.fyooz.io/）
Fyooz is a social token-issuing platform that assists people with certain influencers to issue individual tokens, which the platform calls “star tokens.” Fyooz works primarily with musicians, singers, athletes or influencers. Holding Fyooz often offers “fan privileges,” such as exclusive access to events, parties, discounts, etc.
At present, Fyooz is mainly composed of three modules: trading market, internal community and NFTs.
2) Decentralized Media Platforms / Applications
Bluesky（ https://blueskyweb.org/ ）
Twitter, an overseas head social platform, first announced the launch of Bluesky’s “Decentralized Social Media Project” in 2019, but it was delayed for various reasons. In August, Twitter’s CEO appointed former Zcash Core developer Jay Graber to lead the reboot.
In Graber’s Ecosystem Review for the Bluesky project in January, Analyze both vertically and horizontally on key topics such as identity, network, data, social, privacy, interoperability, scalability, application, governance, business model, etc.
For now, Graber is building the Bluesky team, and the “decentralized version of Twitter” still has to wait.
BitClout (https://bitclout.com/)
Decentralized social platform BitCloud, which itself benchmarked against Twitter, aims to create a decentralized alternative to Twitter through proof-of-work and blockchain building. The platform adds to the community hype by giving Twitter KOL celebrities passive social tokens, where individuals can own their own CreatorCoin and trade. In addition, BitCloud has a POW blockchain designed specifically for running social media and a dedicated DEX built in.
In March this year, BitCloud social media platform revealed the luxury investment camp, including Sequoia Capital, a16z, Coinbase Ventures, The buzz in the industry is rising, and then, as a number of Twitter celebrities “claimed” BitCloud accounts, BitClout’s wealth effect increased, and the gap with other blockchain social media projects.
Audius （ https://audius.co/ ）
The decentralized music streaming protocol Audius, through the native token AUDIO, enables the holder to directly relate to voting weight and value-added services. Audius is committed to bringing music creators and fans closer together.
Notably, in August, AudiusAudius announced a partnership with short video platform TikTok, Allows musicians on the platform to upload and share their work directly to Tik Tok’s SoundKit, and also allows musicians to redirect their followers back to Audius.
Mastodon（https://joinmastodon.org/）
Mastodon, an open source social networking service based on the Activity Pub protocol, was launched in 2017 with a vision for a decentralized Twitter. Through the mammoth site, users can register, post messages, upload pictures and chat, just like a traditional social network. However, if a user wants to install one of his own nodes, the steps can be very complex.
Its style is similar to the early days of minority forum’s social network decentralized remake version, now has launched the IOS version of the app, the official announcement of more than 4.4 million registered.
Nafter （ https://nafter.io/ ）
Nafter is a social platform that transforms short content into NFT. Similar to Instagram, creators can convert their posts into NFTs and profit from selling the right to view them. At the same time, users can also pledge the platform’s native token NAFT or the content creator’s share of proceeds to their personal account.
Coinvise（https://www.coinvise.co/）
Coinwise is an API focused social token offering platform that allows developers to integrate tokens into their existing platforms. On the Coinvise platform, creators or communities can forge social tokens and create incentives across the Ethereum and Polygon (Matic) networks, Creators can also use tokens for reward, air drop, crowdfunding, access control and NFT applications.
Calaxy（https://www.calaxy.com/）
Calaxy is positioned in an open social market. It was founded and incubated by Spencer Dinwiddie, a Brooklyn Nets shooting guard and “jump shot guy,” who is also one of the most active athletes in crypto. One of the most popular recent events in Calaxy is the NFT for sneakers.
Clarion
Clarion OS is in the early design stages and at its core is a “friend to friend” messaging protocol that supports live video, chat and other features between encrypted identities. According to the official information, Clarion uses the Web Assembly plug-in to build different types of applications on Clarions OS, including tokens and smart contracts. Clarion OS can be viewed as Layer 0.
The main focus of the project is that it is the latest choice of former EOS founder BM after stepping down from his role as Block.one CTO and leaving the EOS community, and it is BM’s third project on the social circuit.
■ Third parties
Social tokens have strong social attributes, which often require third-party tools such as token distribution during project operations, which tend to cross with other eco-blockchain projects.
1) Middleware
Mask Network（ https://mask.io/ ）
Mask Network is a special “portal,” Mask does not create a new platform, but “plug-in” way to bridge Web2 and future Web3 concepts, Allows users to seamlessly send crypto messages, cryptocurrencies and even DAPps (Defi, NFTs, DAOs) on top of existing social networks without migration, This creates a decentralized applet (DA applet) ecosystem without using a centralized server.
Mask’s distribution method allows ordinary users to further access crypto assets without changing the current usage habits of mainstream social platforms. At the same time, Mask has been endowed with privacy social, decentralized storage, DeFi, DAO and other multiple attributes.
2) Tools / other
Collab.land（https://collab.land/）
Is a Discord and Telegram bot created by the Abridged.io team that creates chat groups with certain token holding conditions. Users who enter the group will link to a MetaMask wallet and will be kicked out of the group within minutes if they fail to meet a certain number of tokens.
The tool will also automatically pull eligible groups into the group and support snapshot governance voting.
Snapshot（https://snapshot.org/#/）
Centralize Total Ticket Upload Results Governance Tool Using Underchain Signatures
Tip.cc （ https://tip.cc/ ）
The more commonly used tipping bots on Telegram and Discoed can be used to send tokens. The tool uses a centralized server, no fees, no GAS costs, and is typically used for airdrops in chat software.
Communifty（https://communifty.org/）
Communifty (formerly DAOFi) is a dedicated DEX based on social tokens built on the success of KarmaDAO. Designed to help token creation, bringing early mobility to the community.
Outpost（https://outpost-protocol.with/)
Subscribe to blogs that accept crypto tokens.
The platform provides services for more individual tokens, more well-known is the first “out of the circle” social token Jamm Session (JAMM).
Kickback（ https://xdai.kickback.events/ ）
Kickback is a community currency event management platform, users pledge community currency can get the right to participate in activities.
SourceCred（https://sourcecred.io/docs/beta/cred）
Community data assessment and reward tools. Calculated using data such as posts, likes and replies, the community can offer rewards based on membership data and redeem social tokens.
Muzenetwork（ https://muzenetwork.org/ ）
BSC-based encryption community establishment and management platform. Can help users build their own encryption community.
Gnosis Safe（ https://gnosis-safe.io/ ）
Multi-signature management tools and digital asset management platform, most users from the Dao organization.
SuperFluid（https://www.superfluid.finance/home）
The protocol is suitable for DAO payment, regular payment, frequent reward allocation and other scenarios.
Source: Blocklike
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