A Beginner's Guide to Social Tokens and Google's New Link Highlighting Feature

Kazuki

Hatched by Kazuki

Aug 22, 2023

4 min read

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A Beginner's Guide to Social Tokens and Google's New Link Highlighting Feature

Social tokens have emerged as a powerful tool for creators and communities to foster collaboration and share ownership. These tokens, issued by individual creators or communities, enable community members to contribute and earn rewards in the form of tokens. These tokens can then be used for various purposes like granting access to exclusive chat groups or voting on community decisions.

What makes social tokens unique is their ability to form strong communities, much like Non-Fungible Tokens (NFTs). In fact, a single community can make use of both social tokens and NFTs, leveraging social tokens for governance decisions and NFTs for rewarding contributors. This combination creates a dynamic ecosystem where participants are not only rewarded but also have a say in the community's direction.

The applications of social tokens can vary greatly. While they can be used for governance over a Decentralized Autonomous Organization (DAO), they can also serve non-governance purposes such as rewarding supporters with early access to merchandise or exclusive opportunities. This flexibility allows creators and communities to tailor their token systems to their specific needs and goals.

In the early days of social tokens, there were interesting experiments with "personal tokens." These tokens represented an individual's unique skill set or future income, tokenizing blocks of their time or income sharing agreements. This novel approach showcased the versatility and creativity of social tokens, opening up new possibilities for individuals to monetize their talents.

Fortunately, there are now several platforms that make it easy for creators and communities to mint their own social tokens. Platforms like Coinvise, Rally, and Roll provide the necessary infrastructure and tools to create, manage, and distribute tokens. This accessibility has democratized the token economy, allowing anyone with a vision to tokenize their community and empower their members.

While social tokens offer numerous benefits, it's crucial to consider their impact on community morale and cohesion. Freely traded tokens can introduce volatility and disrupt the sense of unity within a community. To address this, some communities choose to make tokens non-transferable in the early stages, ensuring that members are committed for the long term. Additionally, long vesting schedules can align community members' interests and foster a shared vision.

Beyond communities, social tokens also have the potential to create social graphs. These graphs are based on the tokens individuals hold and help people discover new communities and connect with like-minded individuals. By leveraging social tokens, individuals can tap into a vast network of communities, expanding their horizons and finding new avenues for collaboration and growth.

In a somewhat related development, Google has introduced a new feature in Chrome 90 that allows users to create links to highlighted text on a webpage. This feature, known as "copy link to highlight," is already available on desktop and Android devices for some users and will soon be coming to iOS. To create a link to a specific section of a website, users simply need to highlight the desired text, right-click, and select "copy link to highlight." A URL with a pound sign () is generated, which can be shared with others.

The introduction of this feature by Google opens up exciting possibilities for content creators and researchers. By creating links to highlighted text, users can easily direct others to specific information within a webpage, making it more convenient to share and reference relevant content. This feature has the potential to enhance collaboration and knowledge sharing, streamlining the process of exchanging valuable information.

In conclusion, social tokens have revolutionized the way creators and communities collaborate and share ownership. These tokens enable individuals to contribute, earn rewards, and have a say in the community's direction. With the availability of user-friendly platforms, anyone can tokenize their community and unleash its full potential. However, it's important to carefully consider the impact of freely traded tokens on community dynamics and implement measures to ensure long-term alignment.

As a creator or community member looking to leverage social tokens, here are three actionable pieces of advice:

  • 1. Define your token's purpose: Before minting a social token, clearly define its purpose and how it aligns with your community's goals. Whether it's for governance, rewards, or exclusive access, having a clear vision will help guide your token design and implementation.
  • 2. Foster community cohesion: Implement measures to foster community cohesion and prevent token volatility from disrupting unity. Consider making tokens non-transferable in the early stages and introduce long vesting schedules to align community members' interests for the long term.
  • 3. Explore the power of social graphs: Leverage the social graphs created by social tokens to expand your network and discover new communities. Engage with other like-minded individuals, exchange ideas, and find opportunities for collaboration and growth.

By following these actionable steps, you can harness the potential of social tokens and create a thriving community that empowers its members. Combined with Google's new link highlighting feature, the possibilities for collaboration, knowledge sharing, and content referencing are endless. Embrace the power of social tokens and elevate your community to new heights.

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