Raoul Pal Predicts Mainstream Adoption of Social Tokens to Be Next
Former Goldman Sachs Executive and Real Vision CEO Raoul Pal has identified the next big thing in crypto that will be making it mainstream.
Speaking to Angelo Robles on his YouTube, FamilyOffice, Pal predicts that social tokens, or crypto assets that serve as equity for blockchain-based communities, will soon be integrated in popular global segments, such as sports and music. The macro guru said:
“Social tokens are a way to organize complex adaptive societies, big communities. They create a reward system and incentivization to drive network growth by being a good community member and creating value for the community.
The behavioral economics of a social token is extraordinarily powerful, and we are going to see this at scale across sports, music, guilds, skills, there are so many different use cases that we’re going to see this come into.”
There is still significant ambiguity around on whether what coins are considered “social tokens”, according to Pal. He holds that the top cryptocurrency Bitcoin (BTC) and top altcoin Ethereum (ETH), can have multiple layers and economies build on top. He told Robles:
“Bored Ape Yacht Club, that’s basically a social token for Bored Ape Yacht Club owners. BTC is essentially a social token for people who have beliefs in Bitcoin. People don’t like to say that, but that’s really what these things are.
And then what happens with the social token, you can build an economy on top of it. Ethereum would be another one. So they are utility tokens in that respect.
They’re composable which means you can build stuff on top of it, but they have a value to your community, and if your community is vibrant and growing then the value of social tokens can go up. It’s a very attractive way to build a layer of value above equity that doesn’t exist.”
Further strengthening his analysis of seeing popular mainstream industries adapt social tokens, Pal refers to the likes of Nike, Adidas (and Under Armour) as examples of businesses that are stepping up their digital efforts and are venturing into NFTs and even the metaverse:
“In terms of brand, you’re seeing Nike right now and Adidas moving into the NFT space. What is that all about? This is about the brand on a balance sheet right now [being] intangible. Once you digitize the brand – it becomes tangible. And that’s what these tokens do.”
Last week, Pal took to his Twitter audience and provided them with a forecast for the year 2022. Among other things, he said to be on the lookout for the following cryptocurrencies as well as not to discount NFTs:
“If you want to use leverage, add small premiums in options that you can write off. Layer 1’s of BTC, ETH, Luna, AVAX and SOL are the better core holdings. NFT’s are most speculative but are also innovating fast so have a bit of that too.”
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Source: igaming
