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New “extraordinarily powerful” sector of crypto assets to penetrate multiple industries: Macro Guru Raoul Pal

Real Vision CEO and macro guru Raoul Pal says he has identified which sector of the crypto market will next infiltrate the mainstream.
In a new interview on Angelo Robles’ podcast, Pal says that social tokens, or crypto-assets that are like equity for Blockchain-based communities are soon to be integrated into many popular industries such as sports and music.

“Social tokens are a way of organizing complex adaptive societies, that is, large communities. [They] create a reward system and incentives to drive network growth by being a good community member and creating value [for] the community.

The behavioral economics of a social sign is extraordinarily powerful, and we will be so in all areas of sports, music, guilds, skills, etc. [are] so many different use cases that we’ll see how it comes about. “

According to Pal, it may not always be as clear as to which coins qualify as “social tokens” like most crypto assets, including King Crypto Bitcoin (BTC) and top altcoin Ethereum (ETH) economies that build on it can be built on this.

“The Bored Ape Yacht Club is basically a social mark for the owners of the Bored Ape Yacht Club. BTC is essentially a social token for people who believe in Bitcoin. People don’t like to say that, but these things really are.

And then what happens to the social token [is] You can build an economy on that. Ethereum would be a different one. So they are utility tokens in this regard.

They are composable, which means you can build on them, but they are [also] have value to your community, and as your community is alive and growing, the value of social tokens can increase. It’s a very attractive way of building a layer of value above equity that doesn’t exist. “

As a result, according to the macro expert, social tokens also serve well-known companies as an opportunity to create a distinctive brand.

“In terms of brand, you’re seeing how Nike and Adidas are in the NFT– Advance area. Why is? This is about the brand on the balance sheet right now [being] immaterial. Once you’ve digitized the brand, it becomes tangible. And that is exactly what these tokens do. “

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Source: Crypto News Deutsch

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