How-to Create a Blockchain Social Token for your Global Community with no Code
As blockchain-based social tokens become a new online marketing primitive for community engagement, more and more online communities (even brands) will turn to the technology to better serve them and their business models/requirements.
In 2021, we saw a proliferation of new social token projects hit the internet – most of them leveraged Ethereum or DeSo. Today we will discuss how to choose the right blockchain and ask the right questions when planning your social token strategy in 2022.
What are the benefits of leveraging community social tokens as part of your community engagement efforts?
The benefits of social tokens are less obvious in the short-term, but quite evident in the long-term when considering the natural evolution of digital marketing. This is because a lot of the key pieces of infrastructure needed to serve the growing needs to token-based communities are in the process of being built right now (app.whaleroom.org is a perfect example of such infrastructure).
In short, blockchain-based social tokens will ultimately allow community managers and/or brands to:
- Accommodate a global decentralized community
- Increase community engagement via token-based voting
- Improve revenue potential for creators/brands
- Create unique loyalty rewards experiences for holders
- Capture useful insights based on social token usage/activity
Need more convincing? Check out this article by Forbes.
Important inputs to make sound social token decisions
So what do you need to consider when deciding how to launch a social token for your project or at the company you work at?
Let’s take a close look:
- Does your social token strategy require automation? (ex: y/n)
- Do tokens need to be auto-dispersed after key actions? (ex: y/n)
- How often do you think this occurs per day on average? (ex: 10k)
- What is the network fee per transaction (if any) (ex: feeless)
- What is your budget to fund your token minting operations? (ex: $5k)
- How technically proficient is your community or fanbase? (ex: GenZ)
It is important to choose a blockchain for the long-term that will check these 3 boxes at the very least. If not, is it really worth it to move away from your old strategy? Not always!
Benefits of choosing the right blockchain for your social token project
Choosing the right blockchain for you is an important decision that can make or break your budget. Be sure to assess your project requirements carefully and consider the inputs to yield the following outcomes:
- Delight customers with a friction-free experience
- Avoid depleting your budget from expensive network fees
- Measure community engagement based on token activity
We would would love to hear about your project!
Clear example: step-by-step social token creation with HTR
So you can get a clear idea of how easy it is to create a social token in 2022, please check out the video below. It shows the process of minting tokens with HTR (Hathor Network).
Once your token is created, Hathor Network makes it easy to send it out to your fans or community without having to pay ANY network fees. That’s right, it doesn’t matter if you have to distribute them to 10 or 10,000 people.
To receive tokens, Hathor Network has already built an easy to use wallet that can be downloaded from the AppStore for free. Learn more about Hathor Network by visiting the website. Hathor Network social tokens will soon be supported by Whaleroom via the Hathorpay web wallet, but that’s only the start!
As new amazing blockchains are released to the world, our job at Whaleroom will be to keep integrating them into our holder engagement solutions for hobby projects as well as enterprise.
We hope to see you launch a social token community strategy in 2022!
Let us know how we can help host your community!