Friday, 25 March 2022
Today’s entry is brought to you from work. Why? I have some free time between now and my meeting in half an hour and also from roughly 5 later to 6 (when I end work). Why am I doing this at work? Well… I am pretty certain I’m sick. Either way, the agenda, when I get back, is to check my temperature, have dinner and go to bed. That’s why I read up on a few articles just before lunch when I also had some free time and am going to record my learnings now.
So, I continued on the Zima Red Newsletter with 2 more articles. They were ‘Exploring The Social Token Revolution’ and ‘Cryptovoxels Investment Thoughts’. Here are some of the things I learned…
1) Social Tokens
Social tokens are crypto tokens issued by individuals or communities. They have 2 categories — Personal Tokens, which are issued by individuals and are usually used to exchange forms of labour. For such tokens, the individual drives value by performing the service. On the other hand, Community tokens are used for membership and communities. They are given as rewards or to incentivise behaviour.
They can be used for various purposes. For example, $SWAGG gives the holder access to the entire ecosystem surrounding the $SWAGG community. On the other hand, $JAMM gives access to Brian Flynn’s Newsletter, Jamm Session — This usage aligns incentives perfectly by harnessing network effects. $WHALE on the other hand is a special type as it is backed by a collection of NFTs in The Vault, as well as used for different functions in the community.
2) Cryptovoxels
CV is a blockchain-based virtual world. It is an open sandbox environment with no objective, in which users can build whatever they want.
CV’s main use case is to give those looking to display their NFTs an environment to do so. The crypto art community strongly adopted it — especially since it is relatively easy to build your gallery (and other structures) and display your art in it. The adoption also brings about network effects as more artists moving to CV brings about more buyers, and thus more artists, and so on. It is also becoming a social place as users are meeting each other on the platform. CV is greatly accessible — Can get on it on web browsers, virtual reality devices and smartphones. As it was built for integration with Ethereum, CV natively allows users to sell their in-world items. In-world items include ‘Wearables’ which are basically avatar outfits
Having just written all this out seems like I haven’t actually read as much as I thought. But, at least it’s something. My meeting hasn’t started yet as I write this but I am probably going to have to post it after the meeting finishes. Well, hopefully, I am not sick (will probably post on Twitter if I am). Until then, see you tomorrow!
