Intro

Following the internet’s growth, social media’s emergence has triggered a new era of hyper-connectivity. In 2021, over 4.3 billion people were using social media worldwide, a number projected to increase to almost six billion in 2027, according to data from Statista. Everything is available to us at any time and from any location.

Technology plays an increasingly important part in the fan experience, adding features to meet the growing need for inclusion and connection. Radio, television, the internet, cell phones, and social media have all expanded the amount of material available and the variety of ways to interact with it, resulting in increasingly immersive experiences. In a 2017 study by loyalty360.org, 75% of respondents said they want to feel rewarded in some distinct way for their fan engagement. This makes fan engagement a key element of lasting success for celebrities. The growing market need can be perfectly met with the usage of social tokens. Social tokens are likely to play an increasingly important role in the interaction between celebrities and their fans, enabling direct interaction and a slew of additional activations that gives loyal fans the rewards they have been looking for.

For any fan, there is nothing more desirable than having an opportunity to get closer to their idols. The current approach can make interacting with celebrities expensive and hard, with only a handful of loyal fans being rewarded. At the same time, however, celebrities are happy to devote more time to their fans, but scaling remained a key issue before the introduction of social tokens.

Social tokens are cryptocurrencies that permit their holders to access a variety of fan-related membership perks like voting on decisions, rewards, merchandise designs, and unique experiences. With the cryptocurrency industry becoming increasingly ingrained in everyday life, companies are already tokenizing art, fashion brands, real estate, and automobiles. Using social tokens, actors, athletes, and other talented people are now able to reward their loyal fans in a more meaningful way.